Austria's entrepreneurial spirit: PHÖNIX Prize is looking for the innovators of tomorrow!

Austria's entrepreneurial spirit: PHÖNIX Prize is looking for the innovators of tomorrow!

Around 200 innovative submissions applied for the Austrian founding prize PHÖNIX, and the 12 final teams have now been determined and will be honored on March 12, 2025 in the Large Festival Hall of the Industrial Association. These teams come from the areas of start-ups, spin-offs, prototypes and female entrepreneurs and have distinguished themselves through their creative approaches to solving current social challenges. The prize is awarded on behalf of the Federal Ministry of Labor and Economic Affairs and the Federal Ministry of Education, Science and Research and highlights the importance of innovations for Austria as a research and business location OTS reported.

The categories and their meaning

The final teams are divided into four categories: Start-up, Spin-off, Prototype and Female Entrepreneurs. In the start-up category, awards are given to companies whose innovative solutions address current social needs. Spin-offs emerging from public research institutions also demonstrate how research can be translated into practical applications. The Prototype category focuses on models that demonstrate the feasibility of new technologies, while the Female Entrepreneurs category honors women who are significantly involved in innovative projects. The jury selects an outstanding project from the submissions gruendungspreis-phoenix.at describes.

The award ceremony will also be combined with the presentation of the latest results of the Global Entrepreneurship Monitor (GEM) 2024/2025, a comprehensive study that, among other things, records start-up intensities and framework conditions. These excellent technologies and business ideas should be made more visible not only in the economy, but also in society in order to further promote Austria's innovative spirit.