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Web Ready project competition expects applications

6 Oct '10
Source: Business incubator, Ingria Techno-park

Applications for participation in the Web Ready open international competition for Internet innovation projects are still welcome through October 24. The event is being organized by the Ingria techno-parks business incubator and supported by the St. Petersburg city administration.

Web Readys award fund amounts to $50,000. Eligible for the competition are projects addressing any of todays Internet technology areas, including social media, SaaS, loud computing, mobile technologies, development of Web-based games, Web-design, virtualization, eCommerce, etc.

The criteria for project evaluation are as follows: newness, technical feasibility, prospects of monetization, market capacity, teams strength, investment attractiveness, and some others.

The final will take place on December 2 in St. Petersburg and is expected to provide a venue for start-ups, investors and business angels to negotiate terms and ink deals.

The organizers have received so far 88 project applications in a variety of modern Internet areas.

A jury will consist of 18 VC sector representatives and IT company leaders; there will also be business angels and Russian and international software managers. Another 16 business leaders are expected to form an expert panel.

The St. Petersburg University Rector Council, the Russian Venture Company, the North-West branch of Sberbank, Megafon, EMC Corp.s St. Pete Development Center, TETRA Electric and 1C have been named as the partners of the competition. UMI.CMS, Microsoft Russia and Sun/Oracle are said to provide the prize money.

For more details please visit www.web-ready.ru
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