30 April 2023 was the deadline for submitting strategies to the international student project competition «Economics of Transformations» with a prize fund of 3 million roubles. In total, the competition received 423 applications from 95 universities. Center-invest Bank is the scientific and financial partner of the competition.

The international competition «Economics of Transformations» is held among young people from Russian and foreign universities to develop social, economic, environmental and infrastructure projects. The competition is open to undergraduate, graduate and postgraduate students, researchers and professionals from universities.

It covers 49 constituent entities of the Russian Federation. The competition attracted entries from 53 Russian cities as well as cities of Kazakhstan, Belarus and the People’s Republic of China. Most of the applications — 268 — came from the Southern Federal District, including 195 from the Rostov Region and 45 from the Krasnodar Region.

Applications were submitted in 149 different areas focused on the economy transformation.

During the competition period, more than 60,000 people were reached via social media and 333 publications were posted on news channels. The official Economy of Transformations website was visited by more than 9,000 people.

«Center-invest Bank regularly organises competitions for students and young researchers. This year, the geography of the projects has been expanded with the launch of Russia’s first ‘Economy of Transformations’ competition. The international competition enabled young people from Russia and the CIS countries to come up with new solutions for implementing new social, economic and production technologies, measures and forms of support for the development of enterprises, regions and industries. The best strategies for transforming the economy will be presented to the Russian government in order to achieve the overall strategic goals», commented Mr. Vasily Vysokov, Chairman of the Board of Directors of Center-invest Bank, Professor and Doctor of Economics.

The competitors had to prepare a project that should include key sections for a comprehensive approach to implementing structural transformation (description of the market, stakeholders, strategy, promotion mechanisms, investments, scientific basis, risk management and control, corporate transformation culture, etc.).

The award ceremony will take place on 26 May 2023, the Russian Entrepreneurship Day.