10 Dec '10
Source: Ingria Techno-park business incubator, St. Petersburg city administration
Russiaís Web Ready, an international open competition of innovation-driven Internet projects, has come to its end in St. Petersburg. Here are the results.
The competition drew 431 applications from 80 cities in ten countries. The panel of experts evaluating the projects consisted of 36 people. Twelve out of 54 semifinalists presented their projects at the final stage.
The final took place on December 2 and offered a great venue for leading domestic and foreign Internet start-ups and investors, including business angel ones, to negotiate terms and ink deals. It also provided a special platform for project owners to meet sizable companies and venture funds, including Venture Capital Corner investors, Microsoft, ABRT, Runa Capital, Minerva Capital, Troika Dialog, VTB Bank and others.
On the next day, December 3, an Open Studentís Conference called Web Ready Day was held at the State University of St. Petersburg. At the Web Ready closing ceremony city officials awarded the winners.
In the Best Start-Up nomination, Quadra with its complex outsourcing project for Internet shops was pronounced the winner with a $16,500 award. As the runner-up came YaM with its solution aimed at streamlining and managing data processing during high-level meetings; the company received $10k. Trailing it with a $3,300 prize was Alloka with its Internet-based promotion solution that provides for paying for clientsí incoming calls.
In the Best Seed-Stage Project nomination, number one ($8,300) was Ariadn with its project based on a set of highly customizable algorithms. An integrated Smailex online service helping choose and manage ways of express delivery came second ($3,300). The jury awarded the third prize ($1,600) to BabbleLABEL, a mobile Internet application Ďattachingí to any barcode any multimedia content you like.
In addition, a number of special $1,600/project awards went to other projects as well. The Russian Venture Company rewarded the Monitoring Your Heart project that presented a device to do electrocardiographic monitoring at home. One of Russiaís Top-3 telecoms, Megafon, gave a special prize to the My Territory project, which is an open Internet platform bringing together all stakeholders responsible for day-to-day infrastructure activity in a city or district.
There were special nominations, too, awarding prizes to the Fidesys project, Russiaís first-ever package to do stress-strain analysis and computation, and the Fairy Tale Paint project, a solution to compile personalized childrenís fairy tales with pictures.
There was also a special ĎAudience Likingí award discussed through online voting; it went to Copinyís tool to create online communities helping companies developing productive relationships with their customers.
It was a second Web Ready competition. For its last yearís Best Start-Up, InSales, the contest provided a launch pad into success in business. The company raised investor money immediately following Web Ready and has over the past 12 months evolved to join the Top-3 of CMS Internet shops. InSalesí business is reportedly booming now. It has about 400 clients; its orders portfolio grew five times between January and November, with revenue skyrocketing a healthy six times.