Need a bit of cash to get your startup off the ground? Not keen to sell yourself out to investors? The German Ministry for Economics and Technology could have just the solution you’re looking for – it’s offering a $30,000 scholarship to help entrepreneurs from the information and communications sphere to launch their idea. If you’re interested, you’ve got until the 30 November to apply for the startup competition “IKT Innovativ.”
There will be six lucky main prize winners of the big cash prize, plus up to 15 other winners who’ll score themselves €6,000. Plus there is a “special prize” for startups that offer “internet-based services for the economy”. They’ll win up to €10,000 from competition sponsors Siemans, SAP and Empolis Information Management, who are after all IT services in business areas, including SAAS or other web-based business models.
The competition includes judging from a panel of independent experts, who will critique the ideas by analysing their strengths, weaknesses, potential and risks. And money isn’t the only prize up for grabs, winners will also have access to the Ministry’s vast web of contacts, who will help them build up their startups and provide tips on how to effectively market them.
The conditions of entry include a comprehensible presentation of your idea within 10 to 15 pages, though elaborate business plans aren’t recommended. And don’t worry if your business is a bit further along the line, established businesses can apply for the competition, as long as they were launched less than four months before applying for the compeititon. For more details check out the website.
Notable winners from the past include ADAS software and services developer BASELABS and webcam measuring system UPcload.
Featured image credit: Flickr user maesejose
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