About this good practice
The competition is an instrument for the promotion&support of the Mazovian startup ecosystem and good practices (economic use of new tech., development&introduction of new products/services&modern mgmt.methods&business models. It is dedicated to startups reg. in region and operating for a max. 3 years. Startups can submit their participation (free) in the categories: social impact (each stage of dev.), inno-tech (growth phase at the sales stage), start (MVP/prototype stage with a chance for effective development and scaling).
They 1st undergo a formal assessment, then 2 stages of substantive assessment. In the 1st stage, the Evaluation Committee (experienced business experts), reviews the applications and performs an individual substantive evaluation based on the 4evaluation criteria.
The top 10 applications are eligible for the 2nd stage of evaluation, during which start-ups pitch in front of the Committee. The Committee decide on the order of entities on the ranking list (based on application&pitch).
The competition&the main prizes are financed from the Voivodeship's own funds, in each of the 3 categories, the winners receive PLN 30,000. The financial prize may be used by the laureate for any purpose, its implementation is not verified by the organizer.
In addition, special prizes are awarded from the competition partners, e.g. consultancy, training, mentoring support, appearances in front of a group of potential investors, assistance in establishing business contacts.
III edition: 393 905 PLN
IV edition 299 000 PLN
Minimum of two persons are needed to successfully implement the practice.
Evidence of success
More than 128 start-ups applied for the previous 3 editions, for 4th edition 72. The interest is growing every year, thanks to which the Mazovian start-up ecosystem is growing stronger.
E.g. SolHotAir gained many valuable contacts, which ultimately helped them find a strategic investor; Microlens won special award an acceleration program in Nevada, USA, that enabled the work on new technological solutions.
Potential for learning or transfer
This good practice is easy to implement in other countries after identifying start-up needs. Competition participants agree that participation in the competition allowed them to appear on the market, develop companies, increase sales, attract investors not only thanks to financial awards, but also promotion and awards from competition partners (substantive consultations related to business development and obtaining financing, participation in training and mentoring programs or a presentation to a group of investors). The practice boosts the appearance of start-ups on the market.