State Prize for Innovation
Awarding of the highest state honor for innovative Austrian companies as well as the special ECONOVIUS and VERENA prizes. Submissions via regional innovation competitions possible from 01.01.2024 to 31.12.2025.
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Grant criteria
Funding objective
Awarding the highest distinction for outstanding innovation achievements of Austrian companies and enhancing their visibility as well as marketing and public relations through an official nomination and award ceremony.
Eligible to apply
- Companies
Funding requirements
- Company headquarters in Austria
- Development and market launch of an innovation completed
Evaluation criteria
- Novelty: Innovative achievement and IPR
- Benefit: Impact of the innovation and problem-solving
- Entrepreneurial performance: Risk, development costs, innovation-friendly corporate climate
- Market: Opportunities and marketing concept
- Impact and societal effects: Employment effects, diversity, ecological and social effects
Description
As the highest national award for innovation, the State Prize for Innovation honors exceptional achievements of Austrian companies. Led by Austria Wirtschaftsservice GmbH and in cooperation with the federal states, outstanding product, process, or service innovations are awarded annually. From 01.01.2024 to 31.12.2025, companies with completed market entry can submit their innovations through the regional state innovation competitions. The goal is to increase the visibility of the awardees and strengthen their marketing and public relations through official nomination and ceremonial presentation. The award is granted as sponsorship and provides impetus for research & innovation, corporate financing, and consulting.
Austrian companies that can already demonstrate initial market experience with their innovation and whose development is completed are eligible to apply. The expert jury evaluates based on five criteria: Novelty (degree of innovation and intellectual property), Benefit (problem-solving and impact), entrepreneurial achievements (risk, costs, innovation-promoting corporate climate), market opportunities (market potential and marketing concept), as well as impact (employment effects, diversity, ecological and social effects). Additionally, the special awards ECONOVIUS and VERENA are presented, recognizing outstanding innovation strength of SMEs as well as pioneering cooperations in the energy and e-mobility sectors.