SKOLKOVO Launches SKOLKOVO Challenge Competition

Moscow, Russia, January 25, 2009 --(PR.com)-- The Moscow School of Management SKOLKOVO announces the launch of SKOLKOVO Challenge Competition. For the following two months SKOLKOVO will be considering innovative business proposals and ambitious start-up ideas that have growth potential in countries with fast-growing economies. The three winners will receive an opportunity not only to enroll to the SKOLKOVO MBA programme starting in September 2009, but also to implement their projects together with one of the SKOLKOVO Founding Partners acting as a mentor.

SKOLKOVO Challenge is run in line with admissions campaign for SKOLKOVO MBA programme. SKOLKOVO sees its task in bringing into the programme bright, goal-committed candidates with strong leadership and entrepreneurial potential, who have a global vision of economic growth prospects and are ready to perform changes either in private and public sector projects or start their own businesses. At the end of their studies, all SKOLKOVO MBA participants will have a chance to compete for obtaining venture financing for the implementation of their business ideas.

Any candidate may take part in SKOLKOVO Challenge provided that their business or start-up ideas respond to the following requirements:

Innovative;
Limited in time (scheduled for the early part of 2011);
Have a major benefit for at least one of the RICH countries (Russia, India, and China);
Cover special fields (business or social entrepreneurship).

The full description of the project submitted for SKOLKOVO Challenge must not exceed 10 printed pages. Projects will be accepted until March 15, 2009, whereupon the short list of business ideas will be announced. The authors will present their projects in front of the SKOLKOVO MBA Jury* by March 31, 2009. On March 31, 2009, three winners will be announced, each of whom will receive an award covering the tuition fee on SKOLKOVO MBA (up to €50,000) starting in September. The third and final stage of the SKOLKOVO Challenge will be held within MBA programme. The winners will compete for venture financing and for implementation of their projects under one of the SKOLKOVO Founding Partners’ mentoring.

“SKOLKOVO Challenge is a chance to bring a dream to life. What is needed for this? Action. This is precisely the philosophy of SKOLKOVO MBA. We are eager to involve into the programme talented entrepreneurs, striving to implement their ideas and change the world. We are ready to give them the necessary skills and knowledge, plus provide access to venture financing, as well as bring in highly accomplished business leaders to share their expertise with them. What we expect from the students is action. Participation in SKOLKOVO Challenge may be the first step towards new achievements and success. We will pay proper attention to all the projects submitted and we commit that any business idea, even a crazy one, may be brought to life,” said SKOLKOVO Dean Wilfried Vanhonacker as he opened submission for SKOLKOVO Challenge.

All information considered within the framework of SKOLKOVO Challenge will be will be treated in the strictest confidence. The total number of SKOLKOVO Challenge awards will be limited to three. The decision on the winners will be made at the discretion of the SKOLKOVO MBA Jury based on the results of the presentation. SKOLKOVO MBA will give the award to individuals even if they are part of a group who submit the business or start-up.

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