Austria's founding spirit: Phoenix Price is looking for the innovators of tomorrow!

Austria's founding spirit: Phoenix Price is looking for the innovators of tomorrow!

Around 200 innovative submissions applied to the Austrian founding award Phoenix, and now the 12 final teams are determined, which will be awarded on March 12, 2025 in the large ballroom of the industrial association. These teams come from the areas of start-up, spin-off, prototype and female entrepreneurs and have emerged through their creative approaches to solve 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 emphasizes the importance of innovations for the research and business location of Austria, as OTS reported.

The categories and their meaning

The final teams are divided into four categories: start-up, spin-off, prototype and female entrepreneurs. Companies whose innovative solutions address current social needs are awarded in the start-up category. Spin-offs that have emerged from public research institutions also demonstrate how research can be implemented in practical applications. The prototype category focuses on models that show the feasibility of new technologies, while in the Female Entrepreneurs category are awarded women who are significantly involved in innovative projects. The jury selects an outstanding project from the submissions, as described. describes.

The awarding of the price is also associated with the presentation of the latest results of the Global Entrepreneurship Monitor (Gem) 2024/2025, a comprehensive study that includes, among other things, founding intensities and framework conditions. These excellent technologies and business ideas should not only be made more visible in business, but also in society in order to further promote Austria's innovation spirit.