Participants in to the startup competition Nanochallenge and Polymerchallenge 2010 have the chance to receive financial and management support for the establishment and growth of their business ideas.
Veneto Nanotech, the Italian Cluster of Nanotechnology, and IMAST, Italian Cluster for polymeric and composite materials and structures, will award for the 6th following year 600.00 euro to support researchers and scientists in the establishment of high tech start-ups.
The international business plan competition develops in four steps:
registration and executive summary submission by September 20, 2010, for the selection of finalist teams;
mentoring, support to translate the technology and entrepreneurial idea into a feasible business plan;
final contest, end of November 2010, selection of the winning projects by an international jury;
start-up phase, winning teams become real ventures and are incubated inside Veneto Nanotech and IMAST high tech clusters.
So far 56 teams coming from 18 different Countries have participated in the Final Contest; 2,4 million euros have been invested in the winning start-ups by Veneto Nanotech and IMAT; 7 start-ups have been founded; 15 milion euros have been raised in further rounds of investments from venture capitalist and industrial partners.
The Final Contest is a unique moment of networking between teas and investors, sponsors and scientific environment.
Each year Nanochallenge and Polymerchallenge attracts researchers and scientists with innovative ideas from all over the world. Not only the winners receive a seed investments for the start-up phase, but they also receive the opportunity to use the resources and assets of the clusters: laboratories, instruments, machines, office spaces, competences from other researchers, management support.
Besides winners are supported in raising further investments from venture capitalists and private equity funds.
Information to participate and win one of the seed money for start up business are available on the website www.nanochallenge.com.
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