State Prize for Innovation

The State Prize for Innovation is the most prestigious award of the Republic for outstanding innovation achievements by Austrian companies. On behalf of the Federal Ministry for Economy, Energy and Tourism, the Austria Wirtschaftsservice Gesellschaft mbH (aws) organizes this competition and regularly honors projects that set new standards in research and development. Submissions are made exclusively through the regional innovation competitions, with up to three companies per federal state and one candidate each for the special ECONOVIUS and VERENA awards being nominated. Criteria such as novelty, societal impact, entrepreneurial achievements, and market prospects form the basis for the jury’s evaluation. With prizes totaling EUR 14,000 each for ECONOVIUS (Austrian Federal Economic Chamber) and VERENA (VERBUND AG), specialized innovations are also recognized, for example, those implemented in the fields of energy efficiency, renewable energies, or e-mobility.

All Austrian companies, regardless of size, that have already developed innovative products, processes, or services largely ready for the market and can provide initial evidence of impact are eligible to participate. The application phase runs from January 1, 2024, to December 31, 2026 – nomination through the respective regional offices is mandatory. In addition to the highest recognition through state and special awards, the State Prize for Innovation offers winners support in marketing activities, media presence, and an exclusive trophy from the University of Applied Arts. The State Prize for Innovation honors not only economic successes but also societal and ecological effects, aiming to sustainably strengthen Austria as an innovation location.