Location Bratislava Slovak firms have the option to win recognition in the Mecca of IT industry in the U.S. Thanks to the "Start Up Development Program" of the Slovak Investment and Trade Development Agency (SARIO) and the support of the Ministry of Economy four innovative companies have a chance in the first round to participate in an internship in Silicon Valley. "The main objective of this project is to create a mechanism for the promotion and development of Slovak companies based on innovation and technology in order to secure their future entry into the global market. The aim is also to facilitate the transfer of know-how, technology and capital by attracting high-tech investments to Slovakia. “Robert Simoncic, SARIO CEO said. The winners, Nicereplay, Coverpage, WorkInField, Studentive, emerged from the competition. The innovative projects were judged by the Joint Committee, which included a company Plug & Play from the U.S. The first two winners will travel to Silicon Valley in January, two more next spring. The winners will receive a unique access to investors, great mentors and assistance in development of their companies. "Start Up Development Program” is an excellent way to create a link between Slovak companies in the technology sector and the experience which provides an area known for its expertise in Silicon Valley. It opens the door to our small and medium sized business entrepreneurs in the cradle, right in the center of global economy, "said Juraj Miskov, the Minister of Economy of the SR. The project is scheduled to run till the end of 2012 and it is funded from the state budget. By the end of the "Start Up Development Program" the allocated sum of € 40,000 shall be used to open the incubator in Silicon Valley called STIC - Slovak Innovation Training Centre. SARIO´s aim is to be a modern agency, which will be perceived by foreign investors and domestic partners as a vehicle for growth and innovation. SARIO wants to assist to the development of the Slovak economy in the maximum extent possible by attracting new investment and offering trade support, which shall bring its results in creation of new jobs and ultimately increase the living standards in Slovakia.
