Three best startup projects chosen at Belarus Investment Forum
November 16, 2012
Three projects have been named winners of the Startup Day held as part of the Belarus Investment Forum. The projects were presented by young businessmen, BelTA has learned.
Those projects envisage the creation of a cancer treatment drug, the processing of automobile tires, and a service to optimize prices for business residents of major online trade platforms.
A diploma for a commercially viable project went to Mr Alexander Paleyev. His project envisages the construction of a factory to process tires to make recycled resources for the sake of the consequent manufacturing of thermoplastic elastomers. The project would allow Belarus to become more environmentally friendly and more independent from import. According to Alexander Paleyev, the new factory will manufacture import-substituting goods with a good export potential. The processed tires will be used to make innovative thermoplastic elastomers, which are now primarily imported. Besides, the demand for thermoplastic elastomers is high abroad. The project lead informed that a land plot near Minsk had been acquired for the project and the work would soon start there. The total volume of required investments is €7 million. The authors of the idea have 80% of the sum. The rest can be obtained after the investment forum. The new enterprise is expected to start working in a year.
Another innovative project praised at the Startup Day is the project to create a high-tech factory to make a BSCN drug for the barium neutron capture therapy of cancer. The project’s lead Mr Dmitry Rudakov said that synthesizing a more effective substance for treating brain cancer tumors and human liver cancer tumors in comparison with competitive medications was the idea. According to Dmitry Rudakov, the barium neutron capture therapy can be regarded as a nanotechnology, which is unique because it can be used to treat any form of the disease.
The project Seller Hit has been designed to optimize prices for businessmen, who offer commodities and services at major online trade platforms. It is a highly specialized project that can help over 1.5 million vendors, who use the world’s largest online trade platform Amazon, to raise sales and profits, said the project’s lead Mr Roman Bugayev. Modern algorithms and high technologies can be used to automate the process of price markdown and price optimization.
It was the first time the Startup Day had been held at the Belarus Investment Forum. Beginner businessmen argued in favor of 15 innovative projects, which are ready to be implemented, in front of potential domestic and foreign investors as well as the panel of judges made of economics researchers and practicing economists. The choice of the winners was guided by the correlation of the projects with strategic investment areas of Belarus. Those are information and communication technologies, biotechnologies and pharmaceutics, renewable sources of energy, and new materials.