SARIO: Start-up community is getting stronger

Thursday, 14. June 2012
Bratislava

Slovak firms have regained the opportunity to succeed in the IT industry Mecca – the U.S. Thanks to the "Slovak Start-Up Development Program" of the Slovak Investment and Trade Development Agency (SARIO) supported by the Ministry of Economy of the SR, 4 more innovative companies will get the opportunity to participate in an internship in Silicon Valley.

 

"This innovative program demonstrates the ability of Slovak brains. It also helps to develop a mechanism to support and attract investors to Slovakia, especially to the high-tech." said Tomáš Malatinský, the Minister of Economy who handed over the grand prize to the winners.

 

"Our start-up program is an excellent way to interlink Slovak technology firms and the possibilities offered by the Silicon Valley. It opens the door to our small and medium-sized businesses." Robert Šimončič, SARIO CEO said.

 

After the first final round, which was held in November 2011, on June 13, 2012 in Bratislava were announced next other projects that will travel to the USA. The winners: By Square Foretaster, and Quadisys iInvoices, were selected from the competition. The Joint Committee, which included also representatives of the Plug & Play in the U.S., decided on the selection of innovative projects. The first two winners will travel to Silicon Valley in July, another two in October. Winners will receive a unique access to investors, and mentors and great assistance in development of their companies.

 

"The projects chosen in this final round showed that the Slovak community of new innovative companies grows and becomes increasingly competitive. Their big advantage is that they may rely on the professional support of strong partners and sponsors. We look forward to closer cooperation with the winners and will do our utmost to ensure that we contribute to their success," Fernando Gouveia, the representative of the final Plug & Play Tech Center said.

 

Already 4 companies from the first round have been to Silicon Valley. The project is scheduled to run by the end of 201, and is funded from the state budget. 61 projects participated in the two rounds.

SARIO strives to become a modern investment and trade promotion agency, which will be seen by foreign investors and domestic partners as a vehicle for growth and innovation in the SR. SARIO wants to facilitate the development of Slovak economy by attracting new investment and trade promotion, which would result in new jobs and raising living standards in Slovakia.

 

© Photos: Z. Tvarošková