Annual Ukraine Business Pitch Competition at the 2015 Sikorsky Innovation Challenge

CRDF Global, Kyiv, Ukraine,
Thu, Nov, 12, 2015

Economic turmoilthroughout Ukraine and military conflict in the regions of Donbass and Luganskhave disrupted the lives and careers of many Ukrainian scientists and engineers.Through its online training programs and boot camps, CRDF Global strives toprovide scientists and engineers from areas afflicted with ongoing militaryconflict, as well as other regions of Ukraine, access to tech entrepreneurshiptraining and mentoring that will provide them the tools to rebuild theircareers and regions and contribute to Ukraine’s economic revival.

From October13-16, 2015, as part of its efforts to help foster sustainable science andinnovation capacity in Ukraine, CRDF Global held 2015's STEP Ukraine PitchCompetition in conjunction with Kyiv Polytechnic Institute (KPI) and its annualSikorsky Entrepreneurial Challenge, Ukraine’s premier startup competition. Thecompetition aims to spur Ukrainian innovation and allows emerging entrepreneursto hone their ideas and receive funding for product development, includingtracks for young innovators, computer sciences, engineering, robotictechnologies and smart machines, mathematics, and an Intel track, whose winnerscompete in the International ISEF competition sponsored by Intel. This year’sparticipants received 573,000,000 hryvnia ($25,000,000) in funding frominvestors to further develop their ideas. CRDF Global’s cooperation with thechallenge inaugurates its partnership with KPI, paving the way to continuedcollaboration supporting innovation and technology entrepreneurship in Ukraine.

Twenty-nineparticipants, representing a wide range of research institutions andindustries, took part in the rigorous and hands-on program of training andmentoring by experienced entrepreneurs and business development experts fromthe U.S and Ukraine. The American mentors, Dr. George Gamota, Ben Littauer, andCatherine Mannick, brought decades of expertise in business development, techcommercialization, and investment in early stage businesses, while trainingprogram participants.

The trainingsessions focused on the core aspects of technology-based development, customerdevelopment, early stage funding and effective investor pitch techniques. In addition,Inna Gagauz, a representative of CRDF Global’s partner organization – KharkivTechnologies Center, delivered an insightful presentation on potential fundingand business development opportunities in the European Union. The interactivesessions, group projects, and one-on-one mentoring not only delivered practicalinformation about creating new and scaling existing businesses, but alsoprovided Bootcamp participants with an opportunity to apply this new knowledgeto improving their business concepts and investor pitches right there, in thecourse of the two-day program.

On the third dayof the program, participants presented their refined business pitches at thecompetition judged by a panel of experts from the U.S. and Ukraine. Winners ofthe competition received the following awards:

• CRDF Global Travel Grants to attend networking events and conferences in the U.S were awarded to three of the top-ranking entrepreneurs: Kira Liapina, Sergei Ponomarenko and Oleksadra Rogacheva.

• CRDF Global Travel Grants were also awarded to this year’s most outstanding Ukrainian mentors -- Irina Afonina and Ivan Kulchytsky, allowing them to network with U.S. professionals and attend premiere entrepreneurship events in Silicon Valley.

• CRDF Global Mentorship Grants to cover customized six-month one-on-one coaching by U.S. experts were awarded to the second highest-ranked group of four entrepreneurs: Tetyana Kravchenko, Dmitry Raspornya, Anna Tashyryeva and Natalia Sherimbetova.

• CRDF Global “Special Mention” award was given to Rostislav Musiy for his tenacity and commitment to entrepreneurialism and innovation in the face of Ukraine’s difficult economic environment.

CRDF Global looksforward to hosting this year’s STEP Ukraine Bootcamp winners in the U.S. as itcontinues its efforts to rebuild entrepreneurship ecosystems and developindigenous technology commercialization capacity in Ukraine.

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About CRDF Global

CRDF Global is an independent, nonprofitorganization that creates opportunities for scientists and innovators to makethe world a better place. Established in 1995 to promote internationalscientific and technical collaboration through grants, technical resources,training, and services, CRDF Global specializes in bringing isolated scientificcommunities into the global scientific mainstream. CRDF Global has 20 years ofexperience managing international research funding programs and supportingemerging science and technology infrastructure in more than 40 countries aroundthe world.

Formore details, please contact ukraine@crdfglobal.org