The Federal Ministry for Economic Affairs and Energy's "Start-up Competition – Digital Innovations" is entering its final stages. Applications are only possible until April 3.
Digital startups are once again invited to participate in the 2018 ideas competition. This year, the startup competition will honor one startup with a special prize in the "Smart Living" category for business models related to the digitalization of the living environment. To apply, a sketch describing the project is sufficient. A company does not need to be founded yet.
Last year The Munich companies received rfrnz and Hawa Dawa one main prize each. inveox and neolexon were honored. Project manager Wolfram Gross says:
"Our special award, presented in cooperation with the Smart Living Office of the Federal Ministry for Economic Affairs and Energy, recognizes the fact that, according to a study, the market for smart living applications in Germany will triple in volume to €4.3 billion by 2022. This is no surprise, given that people are enthusiastic about the digitalization of their living environment and have increasing demands on their homes in terms of energy efficiency, security, comfort, and assistance functions. Startups have a tremendous opportunity not only to benefit from this development but also to shape it. We want to support this—just like all other smart digital business ideas."
Every submission to the startup competition receives feedback
The ideas competition is divided into two phases: Interested parties can submit a proposal with up to fifteen pages of their idea until 6 p.m. on April 3. A team of experts will analyze the strengths, weaknesses, opportunities, and risks of the proposal. Participants will receive written feedback on whether their idea could be implemented and marketable. The 50 best idea sketches will have the opportunity to incorporate the feedback into their concept and resubmit it in the second phase of the competition, which ends July 2. The best startup projects will be awarded prizes at the IFA 2018 in Berlin in early September.
