The innovations projects competitions are held by this top global business school twice a year. And for the last two years they have been held in a close cooperation with the Skolkovo Foundation.

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Ekaterina Inozemtseva, head of the Strategy department of the Foundation, who represented Skolkovo at Singapore, said one of the goals of the cooperation was to promote the Skolkovo Innovation Center brand on international arena. Another goal was to attract highly potential, promising international innovation teams into the Skolkovo’s orbit.

The Foundation prepared a monetary prize to help develop projects. Skolkovo also covers trip to Moscow, where innovation teams will have an opportunity to meet clusters, participants, talk to their colleagues, partners and investor community.

The key qualification criteria for the selection of winners are the following:

1. The theme of their project should correspond to Skolkovo priorities;

2. Technology of their project is to be new, innovative;

3. The project should have clear commercialization potential;

4. It should be theoretically realizable, corresponding to existing scientific laws.

Two international teams shared the Skolkovo prize this year: Opti2Connect with the project of a simulator, able to measure effectiveness and productivity of high speed data transmission; and InImito Technologies, which develops a model to measure effectiveness of new medicine. Both teams are to visit Skolkovo in  coming spring.

These teams were not the very first winners of the competition, who came to Moscow. Winners of a previous contest, the Parasight company visited Skolkovo and took a decision to file an application to get the Skolkovo resident status. Having passed a standard procedure it became the 500th participant and one of the first residents of the Hypercube.