Location Bratislava Slovak Investment and Trade Development Agency (SARIO) launched a project called “Start up Development Program” to help Slovak companies to succeed in IT technologies. Eight companies that will succeed in the competition will go for an internship in Silicon Valley in the U.S. "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 simplify their future entry into the global market. This approach shall also help in the transfer of know-how, technology and capital by attracting high-tech investments to Slovakia." Robert Šimončič, SARIO CEO said. The participation in the program is not limited. Registration is open not only for already established innovative and technology-oriented companies but newcomers and college students are welcome as well as. The candidates will be selected by the Joint Committee by including the representatives of Plug and Play Centre from the U.S. SARIO wants to ensure maximum transparency in the selection process and have independent experts to review selection. The project is financed from the state budget. The sum of 40,000 Euros has been allocated for the program to be used by the end of this year including the opening of the incubator in Silicon Valley called STIC – Slovak Training Innovation Centre. First two winners will travel to Silicon Valley in January, two more in the spring of 2010. The project is scheduled to run till December 2012. 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.
