The European Venture Contest 2006 was organized by the European Venture Institute and is the only pan-European competition with an exclusive focus on top technology ventures that have the ambition and potential to reshape their industry and conquer the international market.

During a period of a few months, 485 initial contestant early-stage companies from Europe and Israel, competed for the top positions. Out of the 125 selected in the first step by an European Jury composed of managing partners of 8 European funds, 18 finalists went on to present their business case (again) at the final session, on December 4. As final result, Multiwave was awarded second prize in the overall competition.

The competition brings exposure to the winning companies, and facilitates contacts with potential European investors.