BOSTON, April 23, 2012 (GLOBE NEWSWIRE) -- As VC firms continue to discover the untapped potential of the Russian and eastern European market, entrepreneurs in these areas are innovating next generation technologies across a wide range of platforms. From IT to social media to 3-D mapping, Russian companies are harnessing western investment to bring cutting-edge technical developments to both Russian and western markets. The world's most prestigious business publications are filled with stories detailing the rapidly expanding Russian market and the companies that are driving it. At EuraMedia 2012, organized by IDEA MEDIA, these innovators will come face to face with angel investors and VC firms to facilitate the continued rapid growth of this field.
"It's quite dumbfounding how big and enticing this market has grown in such a short period of time," said Matthew Goldstein, a partner in IDEA MEDIA, a conference organizer, and long-time Russia tech and media specialist who has investments in many new Russia-developed applications and Websites. "This is also a market that could truly change the face of Russia in the long term if it keeps growing at this rate. The fact that, despite this huge growth spurt, the market still only remains half full, meaning that there are still no clear winners and losers, is also an extremely promising sign. There is lots of room left and it's still anyone's game."
Statistics regarding internet use in Russia tell a compelling story of a market in the midst of an unprecedented growth spurt. Russians are on the Internet 100% more per day than any other nation. Online sales increased 40% in 2011 and are set to surge still further this year. The Russian government has invested billions in technological infrastructure. In response, investors have poured equal amounts of money into Russian tech startups across the spectrum.
As the first event of its kind, Euramedia 2012 will feature a 150-booth exhibition showcasing the best of the best in Russian innovations. Additionally, 30 of the top companies will connect with high-powered venture capitalists in a private session to encourage the funding of technologies with the highest potential return.
"In computer science and materials science, the Russians are as good or better than anyone in the world," says Bill Reichert, Managing Director of Garage Technology Ventures, a major US venture fund chasing Russian startups. Bloomberg News reports that investors are flocking to this area of the world, which had previously been shunned as too unstable and lacking government commitment toward high-tech investment.
Tech-savvy venture capitalists will converge on Euramedia 2012 to speak, present, or just to learn more about this emerging market. EuraMedia confirms that roughly 70 US-based and 15 Russia-based VCs and incubators are participating. More information is available on the conference website at: http://www.euramedia.com.
About EuraMedia 2012
The EuraMedia Summit, to take place at Boston's luxurious waterfront Seaport Hotel and World Trade Pavilion between June 13-16, 2012, is dedicated to capitalizing on Russia's current tech and media boom, one that is only gaining strength according to companies such as Price Waterhouse Coopers. The event will allow US investors to gain access to these markets while providing Russian companies with the ability to promote themselves and expand internationally. The summit will include a creative agenda that features sessions on IT, new media, social media, a trade show on media buying and selling across markets, and 'how to'' market entry sessions. EuraMedia 2012 will also feature a co-branded trade expo, Biopharmology, dedicated to the fields of nano, solar, and biotechnology.
Networking-style events will include a very exclusive VIP awards show, hosted by Sarah Jessica Parker and featuring a plethora of A-list Russian and US musical acts who have contributed to breaking borders in the market and a tribute to the leaders and icons, otherwise referred to as the 'New Elite", of Russia. There will also be an eFashion and eLifestyle after-party featuring the hottest new online designers, as well as travel and luxury gurus, Djed by Russia's DJ Feel, among others, and a interactive gaming cruise, featuring a celebrity poker tournament as well as installments of the latest e-gaming installations and newest digital games on the market. Learn more at: http://www.euramedia.com.
Contact:
For questions about inclusion in EuraMedia, please visit its site at www.euramedia.com or refer to its publicist in your area:
Boston, MA / Jamie Adler / 617 230 8465 / bayleafcomm@verizon.net
New York City, NY / Hollywoodpop / Brett Galley / 203 622 4057 / brett@hollywoodpop.com
New York City, NY / Hollywoodpop / Jordan Fiellin / 214 777 2238 / jordan@hollywoodpop.com
Los Angeles, CA / LA Metro / Adam LeBlanc / 310 994 0754 / adam.leblanc@me.com
Seattle, WA / Barbara Kindness / 206 473 9416 / barbkindness@gmail.com
Moscow, Russia / Dimitry Zimin / (+) 7 905 500 92 45 / dimitry.zimin@gmail.com
Kiev, Ukraine / Mariia Senchylo / (+)38 095 321 99 33 / maria.senchylo@gmail.com
London, England / Juno Copywriting / Sara Thursfield / (+) 44 7880 787 517 / S.Thursfield@hotmail.co.uk
London, England / Juno Copywriting / Charley Christopher / (+) 44 7795 074 22 / charley@junocopywriting.com
Canada / UK / WeProduce / Emma Victoria Houlton / (+) 1 647 931 5126 / emma@weproduce.co.uk