Press release 25 May 2010
Wapulec receives 20 000 euro innovation prize at EU─Russia Innovation Forum
Wapulec has won the innovation prize awarded in connection with the EU─Russia Innovation Forum. The organiser of the competition was Lappeenranta Innovation Ltd. and the main sponsor FinNode Russia. Other partners in cooperation included Spinverse Ltd. and Technopolis Plc. The award is 20 000 euros. In addition, the winner receives 2000 euros worth of business development coaching from Lappeenranta Innovation. The winner also has the opportunity to take part in the Money Talks Forum of Technopolis in the autumn.
A total of 29 innovations were accepted for the first round of the competition. The qualifiers were on May 3rd, and the four best innovations were chosen for the finals. The qualification criteria were the market potential, novelty value and competitiveness of the innovation, and how the team is able to commercialise its innovation and generate new business activity with it.
Wapulec, Genetarum Software, JSC Polyinform and Active-nano Ltd. made it to the finals. Wapulec’s innovation is a pulse electric discharge technology for water treatment, which is a cost-effective alternative to ozone. Genetarum Software’s innovation ”Wapalta&AltaWidgets” is a mobile application for social networking, browsing and messaging, and JSC Polyinform’s innovation deals with remote diagnostics for oil and gas pipe metal structures. Active-nano Ltd. developed wear resistant solid lubricant mineral coatings for extreme conditions of high T and P, corrosion and abrasive wear.
─ The innovations that took part in the competition represented a wide range of industries. The overall level of the contest was high, and the competition between the finalists was close. The teams' ability to present their plan convincingly made the difference, comments Kimmo Häyrinen from Lappeenranta Innovation, who was in charge of the arrangements for the competition.
In connection with the EU─ Russia Innovation Forum, an Innovation Exhibition will take place at Lappeenranta City Hall on May 25th-27th with 20 Russian exhibitors showcasing their new innovations. The purpose of the exhibition is to boost the internationalization of Russian innovations by providing Russian companies with an unparalleled opportunity to showcase their new innovations in the Forum and be involved in cooperation between the EU and Russia.
Further information:
Business Development Advisor Kimmo Häyrinen, Lappeenranta Innovation Ltd., kimmo.hayrinen@lprinno.fi, tel. 0400 383 845
Lappeenranta Innovation Ltd. promotes the growth and internationalization of businesses. The company develops new and innovative products, services, expertise and practices in cooperation with business enterprises, universities and education and research institutes to improve their operating environment and competitiveness and thus also the appeal of the entire region. Lappeenranta Innovation Ltd. utilises national and international programmes and networks, developing innovations especially with Russia and the St. Petersburg area.