On September, 13, 2007 in Kyiv IT project competition IT Stars’ 07 took place within the framework of the Investment Forum of the CEE Outsourcing Summit (www.cee-outsourcing.com). Investment Forum “Investment opportunities of software product companies in CEE” was focused on analysis of software product companies of Central and Eastern Europe, opportunities and prospects for the companies based in CEE to increase their global market presence. Besides Discussion Panel, IT Stars’07 Competition became a noticable part of the Forum. 5 innovative IT projects were selected by the Panel of Experts for presentations to representatives of leading venture capital firms/funds, including Mangrove Capital Partners, ABRT Venture Fund, AVentures Group, International Foundation “Technobridge”. Company presentations were judged according to the Selection Criteria. Each company was given 15 minutes (including Q&A session) to present its project. The selection decision was made solely on the merits of the project and at the discretion of the Panel of Experts.The winner of the Competition – project Occam received the Winner Prize – an opportunity to present its project in Silicon Valley at the third annual Technology Investment Conference “Silicon Valley Open Doors 2007” (www.svod.org) at the expense of the Official Sponsor of the Investment Forum - AVentures Group. The following projects were presented: IM-HISTORY, Occam, Walk2web, MirUA, CodeID.   IM-History (www.im-history.com) is a company that provides solutions for storing and browsing chat history online from all popular instant messengers. IM-History covers a wide gap in modern communication services. It offers powerful online storage, easy viewing and convenient search tools for chat history.     Occam – a novel approach to information retrieval on the web. It’s an innovative approach to semantic search, which encourages better quality of information placed on the web. Walk2web (www.walk2web.com) visualizes the connections between sites, while allowing to view, review, bookmark and vote the favorite sites. Walk2Web is a new way to explore web sites from a specified starting point. It shows the Internet and give the ability to physically walk on it. MirUA (www.MirUa.org) is a global community of cities of all Eastern Europe. The idea is to create a global searching data base of all Eastern Europe cities (Russian speaking, English speaking, local), which will be unificated and at the same time personalized for the needs of the local community of  the each town.   CodeID (www.codeide.com) - the direct way to learning for programming languages for everybody of all ages, and especially in schools,  colleges and universities, that  helps students increase their experience in  programming, to find friends, colleagues, to make a interests groups and organize the team-works.