12 March 2008

Business of Innovative Technologies – Saint Petersburg

Make the investor believe in you! – under this motto, the BIT|SPb Business Plan business contest "Business of Innovative Technologies - St. Petersburg" is being held in St. Petersburg for the second time. The Business of Innovative Technologies competition is already being held in Moscow for the fifth year. The success of the previous bits is due to the fact that this competition allowed students and employees of leading technical universities, scientific organizations and business schools to bring innovative ideas to the market. The purpose of the competition is to initiate the creation of new technology companies and promote the development of a culture of entrepreneurship in the Russian high tech sector.

The entrepreneurial BIT Competition is based on the principles of the famous MIT $50K competition, which is held annually by the Massachusetts Institute of Technology. This is not just a competition of innovative ideas, it is a competition of business plans and teams that are able to turn good ideas into a successful business. The jury of the competition is made up of successful entrepreneurs whose experience and knowledge will be indispensable at the stages of discussion and evaluation of your idea.

The organizers of the BIT contest|St. Petersburg are: Ilya Antipov, Sergey Poduzov, Ivan Grigoriev and St. Petersburg State University

A distinctive feature of the competition is the free educational program conducted within its framework, which allows participants to acquire the necessary skills to create a successful business. In addition, special team building events will help unite students and employees of leading Russian technical and economic universities, scientific organizations and business schools into teams to introduce innovative ideas to the market.

The prize fund of the BIT contest|SPb is 90,000 rubles: 50,000 rubles of them are awarded for the first place, 30,000 rubles and 10,000, respectively, for the second and third. In addition, the finalists of the competition receive the right to participate in the educational program "Start in Garage". In addition to cash prizes, the winner of the BIT-SPb contest gets into the semifinals of the BIT in Moscow, the final of which is held in June. All participants of the competition will also be given the opportunity to demonstrate their inventions and products at the Corridor of Innovations fair, which will be held on the day of the final of the competition.

Also, the MARTISHKINO Business Park allocates 1000 square meters with a zero rental rate for the first year for the formation and development of the most promising projects submitted to the competition on the territory of the Business Park. The winners of the competition, as well as the participants of the final, selected by the organizers of the business park, will have the opportunity to commercialize their ideas and use the infrastructure of the MARTISHKINO Business Park for free during the year.

BIT Contest|St. Petersburg was accredited under the program "Participant of the youth scientific and innovative competition" ("U.M.N.I.K."). In accordance with the program, the winners of the competition in the nomination "For scientific results with significant novelty and a medium-term (up to 5-7 years) prospect of their effective commercialization" receive funding from the fund in the amount of 200 thousand rubles for 2 years (information and terms of the program are here: www.fasie.ru ).

However, the main thing in the BIT contest|St. Petersburg, as in the Olympic movement, is not a victory, but participation. An opportunity to learn something and "shine" in front of investors within the framework of the competition (to the BIT|judging panelSt. Petersburg includes representatives of the Russian and American community of venture investors, representatives of technology companies and Russian universities) brings quite concrete benefits.

The final of the BIT contest|St. Petersburg will be held on May 24. The last day of application submission is April 26.

Details are available on the contest website

Portal "Eternal youth" www.vechnayamolodost.ru12.03.2008

Found a typo? Select it and press ctrl + enter Print version