The Federal Ministry for Economic Affairs and Energy has today launched its which is to seek out the best start-up ideas of the moment. Start-up entrepreneurs who develop innovations in the fields of information and communications technology can submit their start-up ideas to the competition up to 31 May 2021. Up to €32,000 in prize money will be awarded for the ideas received. There will also be a special €10,000 prize for ideas in the category ‘Digital cities and regions’.
Thomas Jarzombek, Commissioner for the Digital Industry and Start-ups at the Federal Ministry for Economic Affairs and Energy, said:
"The coronavirus pandemic is acting like a burning glass in showing areas where we need to be better, more innovative and more agile. At the same time, the pandemic has given digitalisation a strong boost, with video conferences replacing business trips and digital administration replacing queues. We need to harness this momentum. No-one can fill the digital voids in our country with innovations better than highly motivated start-up entrepreneurs can. This is why we will look at and evaluate each idea closely, and provide our support for the best ones – not only financial support, but also assistance with implementing the ideas in practice.”
All participants in the start-up competition will receive a written evaluation of their concept sketch looking at its strengths, weaknesses, opportunities and risks. Award-winners will also benefit from an extensive range of support featuring coaching, mentoring and networking activities. In addition, a special prize will be awarded for start-up ideas for digital ecosystems in cities and regions, which serve to enrich people's lives and work. This special ‘Digital cities and regions’ prize is jointly awarded by the Federal Economic Affairs Ministry’s initiative. It will recognise start-up ideas that increase the prosperity and quality of life in a region, city or municipality through innovative and efficient digital networking.
The relaunch of the Federal Economic Affairs Ministry’s start-up competition, which has now become the ‘Start-up Competition for Digital Innovations’, lays the foundations for even more start-up ideas to be turned into new success stories. The awards will be presented in autumn 2021.