Startup City Magazine

New Trend, Competitions for Startups

 Peter Velikin at VeloBit.Inc, the marketing head was interested to know about the contests in the web content for solid-state drive (SSD) to participate. He says, there were a number of contests which were present, but he could not apply to any of them as they were pricey to his wallet. But Velikin witnessed a new competition named Tech Trailblazers, which concentrated only on startups and their entry fee was affordable. Therefore VeloBit was game for it and paid an entry fee of $295.

This contest was interesting as instead of highlighting the known big companies it focuses on the startups as well. Velikin was assured that atleast they would take a fair decision without bias.

Companies have various ways to encourage the winners varying from cash awards, mentoring or other beneficial services which are provided. But startups say that the actual reward is the multiplying of such contests and awards which will help them earn goodwill and reach out investors.

Currently, there are two such competitions, one which is brand new and another which is few years old, both located in Boston. Presently, Tech Trailblazers Awards is paying attention to enterprise IT startups, private companies or C- Series funding companies. NETVA, Boston aims at upliftment of French startups growing in U.S. NETVA along with several institutions in Boston including Mass Challenge helps startups to connect with other corporate. The competition “European vs. American Markets: Opportunities and Challenges for High Tech Companies”, included five startups which led to the companies such as Plugmed Heart, Osseomatrix, Repropharm, Repropharm and Pacifa Decision being noticed.

Tech Trailblazers founder, Rose Ross said that the contest was initiated by employees at Launch pad Europe, and was ensured that it was a professional event at the end of the day with a ray of hope for the companies who made the entries. Ross said that she hopes for a least of 200 participants offering prize money of $50,000 in products and services.

VeloBit Inc, founded in 2010, entered a contest and was nominated as finalist. But the victory was not theirs as finalists did not go to LA for the finals, or else they would have made it being the number position.

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