The Federal Ministry for Economic Affairs and Energy (BMWi) is awarding a new prize for the "Digital Startup of the Year 2019." The award is aimed at young digital companies that have already participated in a BMWi start-up initiative. Four prizes totaling €110,000 are up for grabs. The application deadline is July 12, 2019.
Who exactly is eligible to apply for the prize? The BMWi awards its prize only to founders or startups that have already received some kind of funding from the Ministry of Economic Affairs. However, several other requirements must also be met.
Who can apply to be “Digital Startup of the Year 2019”?
Eligible to participate are:
- Graduates of the EXIST Founders' Scholarship
- Companies from the EXIST research transfer
- Award winners of the “Start-up competition – Digital innovations“ or its predecessor, the start-up competition – ICT Innovative
- Investments of the High-Tech Gründerfonds (HTGF)
- Investments by a business angel through the BMWi program INVEST – Grant for venture capital
- Startups (finalists) of the German Accelerator
Munich startups therefore have a great chance of being recognized again. Countless local startups have won the BMWi's startup competition in recent years, such as Demo desk, Hawadawa, rfrnz, RoVi Robot Vision, Twaice or WunderX. HTGF is also involved in many Munich startups, including HTGF Fairfleet or Kiutra. The other programs have also supported some Munich-based startups.
Further eligibility requirements include that the company was founded as a corporation with its registered office in Germany, and not before 2016. Furthermore, the company's products or services must include innovative information and communication technologies. Furthermore, turnover is relevant: The company must have or have generated a turnover of at least 100,000 euros in the last twelve months. And there is one more exclusion criterion: startups that have already been named "Multimedia Startup of the Year" and "ICT-Foundation of the Year” by the BMWi were awarded.
What is the jury looking at?
In addition to the relevant application documents, a self-recorded video must be submitted. The selection criteria for the award are as follows:
- the unique selling point of the product or service portfolio,
- Growth prospects in the target markets,
- the entrepreneurial performance in the implementation of the founding idea to date and
- the management potential for further successful company development.
Sounds like a lot of criteria? The chance to be named “Digital Start-up of the Year 2019” by BMWi You should take advantage of this opportunity. After all, there are four prizes worth a total of €110,000 to be won. For the first time, in addition to the three awards presented by the jury, there will also be an Audience Award worth €10,000. The audience can choose the startup with the best video contribution in an online voting phase.
