The "Start-up Competition – Digital Innovations" of the Federal Ministry for Economic Affairs and Energy (BMWi) is starting its first round. They are looking for people interested in founding a company and young start-ups with innovative business ideas from the ICT environment.
Sponsoring Agency: BMWi
Type of Fund: Challenges, Competitions or Prizes
Deadline Available: Available
Deadline Date (mm/dd/yyyy): 05/31/2021
Size of the Fund: Not Available
The "Start-up Competition – Digital Innovations" of the Federal Ministry for Economic Affairs and Energy (BMWi) is starting its first round. They are looking for people interested in founding a company and young start-ups with innovative business ideas from the ICT environment.
With the "Founding Competition – Digital Innovations", the BMWi awards the best ideas for innovative business start-ups based on digital technologies.
The competition is carried out by VDI / VDE Innovation + Technik GmbH on behalf of the Federal Ministry for Economic Affairs and Energy.
The start-up competition is an ideas competition. Present your start-up concept in phase 1 on a maximum of 12 pages. In the idea sketch, you should present the innovation and the benefits of your idea, address the technical and business skills of the founders and describe the networking with potential customers and partners
There is no need to draw up a full business plan. An understandable presentation of the planned business model, a realistic assessment of the target market and competitors as well as initial approaches for marketing and sales are expected. The sketch of the idea should also contain an initial rough time plan for setting up the company and the basic structure of financial planning (price model, sales, costs, financing). In addition, it can be shown how economic, ecological and social sustainability aspects are taken into account.
In order to present the start-up idea even better, you can optionally supplement the idea sketch with a video (max. Running time 60 s) in which the product or service and the founders or the team are presented. However, the sketch of the idea is decisive for the award.
The entries in the start-up competition are essentially assessed according to the following criteria:
• Experience and qualifications of the participants or the team
• Customer benefit, unique position and market potential of the product or service
• Comprehensibility and feasibility of the founding concept
In addition, the sustainability orientation of the team, the concept and the products or services are also taken into account.
Participation Requirements
• Natural persons residing in Germany are eligible to participate. The intended company formation must take place in Germany.
• Insofar as participants have already founded a corporation in the form of a limited liability company (UG), GmbH or AG on the basis of the submitted business idea, when registering online for a competition round, the establishment may not be more than six calendar months ago.
• An application for the “Start-up Competition – Digital Innovations” can be repeated up to two times in the following competition rounds.
More information at: https://www.de.digital/DIGITAL/Navigation/DE/Gruenderwettbewerb/Mitmachen/Wettbewerbsbedingungen/wettbewerbsbedingungen.html
