The Business Battle project will identify the best startups in Stavropol

The Stavropol Territory, with the support of VTB, will host the Business Battle, a startup competition that was previously held in the Kaliningrad Region for six years. The launch of the competition in the region was announced by Vladimir Vladimirov, Governor of the Stavropol Territory, and Denis Bortnikov, Deputy President and Chairman of the VTB Management Board, during the Business Day plenary session in Stavropol.

The project is aimed at supporting small and medium-sized businesses, searching for promising start-ups and drawing attention to the development of entrepreneurship.

"Small and medium—sized businesses are the backbone of any region's economy, creating new jobs and driving development. Supporting entrepreneurs has always been a priority of the regional government, because it is they who create new opportunities for the residents of the region, move the economy forward and create a competitive environment. Stavropol region has a number of business support measures that simplify administrative procedures and promote business growth, so that everyone who wants to develop their business can feel the support of the state. Initiatives such as the Business Battle are another tool that helps novice entrepreneurs successfully launch their project, receive support from experienced mentors, and eventually bring their idea to successful implementation," commented Vladimir Vladimirov, Governor of the Stavropol Territory.

"Over the 6 years that the Business Battle has been held in the Kaliningrad region, the competition has brought together more than 600 startups, and some projects have grown to the federal and even international level. This year, it is expanding its geography, thanks to which even more entrepreneurs will be able to receive professional expertise at the very beginning of their journey. Stavropol is actively developing, and we see an increase in the number of medium and small business entrepreneurs in the region. This indicates that the region is becoming more attractive for new ideas and initiatives. Business Battle helps to solve important tasks of supporting SMEs and stimulating business activity. This is one of our priorities, and we invite Stavropol entrepreneurs to compete for the main prize for the development of their business across the region and the whole country," said Denis Bortnikov, Deputy President and Chairman of the VTB Management Board.

All interested entrepreneurs over the age of 18 who are starting or developing their young business in the region can take part in the competition. During the "Business Battle", the projects of the participants will have to undergo a rigorous selection process, which will be conducted by recognized experts in the field of business. During the competition, entrepreneurs learn how to analyze the market, develop marketing strategies, business plans and financial models under the guidance of experienced mentors. Alexander Dyrenko, VTB Managing Director in the North Caucasus Federal District, VTB Vice President, Evgeny Osinovsky, co-founder of Snekmania Group, Alexander Reznikov, founder of the Living with a Dream charitable foundation, president of the Southern Frontier Business Club, Alexey Reznikov, tax consultant, restaurateur, founder and partner of Russian and international law firms, will act in this role for the contestants. Slyusarev and Alexander Kologrivy, CEO of Ipatovo Invest Management Company LLC. The project is organized by the Russian Media Group Zapadnaya Pressa, with VTB and RANEPA as general sponsors.

The finalists will present their projects to potential investors, after which the jury will vote on the winners. They, like the other finalists, will receive prizes from sponsors and partners of the Business Battle. The winner will receive a cash prize from VTB in the amount of 1 million rubles for the development of their project. The winners of the second place will receive free MBA training from IBDA at RANEPA. The third and fifth place winners will be awarded certificates for business support infrastructure services from the Ministry of Economic Development of the Stavropol Territory. The fourth-place project will receive a cash prize of 300,000 rubles from the ASB agricultural holding.