The Skolkovo Foundation and Alibaba Russia, the local branch of Chinese e-commerce giant Alibaba Group, are teaming up to create the AliExpress Challenge for B2C microelectronics solutions.
The initiative was announced Tuesday at Startup Village, Russia and Eastern Europe’s biggest innovations event. A memorandum of understanding is to be signed by the two parties at the St. Petersburg International Economic Forum later this month.
“We’re working on such an initiative for the first time in the history of AliExpress in international markets, and it’s a great experience working with Skolkovo,” said Mark Zavadsky, business development director for AliExpress in Russia and the CIS.
The AliExpress challenge will allow Skolkovo resident firms to pitch their products to a panel, with the top startups winning access to acceleration programs and additional mentor support. The victors will also have the considerable backing of AliExpress to reach international markets.
“Our cooperation with Skolkovo will give the participants the unique opportunity to reach the American and European markets,” Zavadsky added. “This way we are offering the world the best of what Russian microelectronics developers have to offer.”
The contest will be split into two categories – one for solutions that are still at the idea stage, the other for market-ready products.
The AliExpress Challenge runs through the fall, with the applications being accepted from June 18 through September 25.
Alibaba Russia is one of Skolkovo’s key partners, a status that gives established domestic and multinational companies access to the Skolkovo ecosystem, which often affords first refusal on the leading technological developments out of Russia and the CIS.
Igor Bogachev, Skolkovo vice president and executive director of the IT cluster, noted: “The joint competition with AliExpress, the leading global player in e-commerce, represents another step in the Skolkovo Foundation’s program to support and develop Russian startups in international markets.”
“We expect no fewer than 100 B2C microelectronics projects from around the country to take part.”