The Roscongress Foundation, the Far East High Technology Fund and the Russky Technology Park are announcing the opening of the application period for Business Priority — a contest of hi-tech startups from the Russian Far East. The contest will be supported by the Government of the Primorye Territory, and its results will be announced during the 5th Eastern Economic Forum held on 4 — 6 September 2019 in Vladivostok as part of the Startup Lounge project.

The contest was announced by Ruslan Sarkisov, CEO of the Far East High Technology Fund, at the meeting with the Russky Technology Park residents held on the campus of the Far Eastern Federal University (FEFU).

Any hi-tech startups that are based in the Far Eastern Federal District and have a finished product may present their projects for the contest. The expert panel will select 7 winners based on the following criteria:

• Potential of the company’s product to change the landscape of the future;
• Availability of a finished product (mature phase of the project);
• Forward-looking team;
• Valid title to the product or ability to protect intellectual property;
• Demand for the product in the market (sales);
• Potential in the Russian and international market;
• Strong competitive advantages;
• Expected project risks;
• Company appreciation potential;
• Reasonable commercialisation scheme;

The contest winners will get an opportunity to present their projects to experts and potential investors on the Roscongress Foundation’s Startup Lounge platform as part of the Business Priority pitch session during the Eastern Economic Forum on 4 — 6 September. 

The expert panel will be composed of investment funds, representatives of federal and regional government authorities, corporations, big and medium business, and business angels.

Applications for the contest will be accepted online at: https://www.businesspriority.ru/ (section: EEF-2019) in the period from 5 August 2019 through 15 August 2019.

“A contest on a large platform like the Eastern Economic Forum provides hi-tech entrepreneurs from the Far East with an opportunity to tell about their ideas and projects to the investment community and potential public and business customers.  A contest of this sort will be held for the first time as part of the forum and we hope that this experience will prove its worth both for entrepreneurs and for investors planning to work in the region. The most interesting projects will be selected as the fund’s potential portfolio companies,” said Ruslan Sarkisov, CEO of the Far East High Technology Fund.

“I am sure that the Business Priority contest to be held on the sidelines of the Eastern Economic Forum 2019 will have a major visible effect for all participants.  The ecosystem of the Roscongress Foundation in its capacity of a major development institution represents an ideal infrastructure for a fast growth of hi-tech startups. Our objective is to support the new generation of entrepreneurs and we are ready to support the promotion of Russian technologies. The primary task of the Business Priority project is to create an international quality label for hi-tech startups,” says Yuri Cherches, member of the Management Board, Roscongress Foundation.

“The Government of the Primorye Territory is happy to support the initiative of our colleagues from the federal government. The contest will give a major impetus to the growth of hi-tech companies in the Far East, provide them with an opportunity to make it to the federal agenda, and attract investments from the High Technology Fund. In addition, we are inviting our neighbours from the Far Eastern Federal District to take an active part in the contest — please send applications with your ideas and join the companies from the Primorye Territory at the Eastern Economic Forum,” said Sergey Maksimchuk, Interim Vice Governor of the Primorye Territory — Department Director.

For clarifications and details, contact Marianna Skragan by email: info@businesspriority.ru or by phone: +7 (499) 579-82-78.