"Our economy prospers on perpetually reinventing itself and being one step ahead in the development of new products and processes," said Economics Minister Wolfgang Tiefensee. "This is the only way Thuringia will continue to assert itself as a viable business location in future." The state is, therefore, creating ideal framework conditions and effective incentives to turn ideas into innovations. The Thuringian Innovation Award should also be seen in this context: "We want to honour good, marketable ideas with the Innovation Prize and thus motivate entrepreneurs, researchers and founders to develop new offers and business models."
 
Applications are possible in the four categories "Tradition & Future“, „Industry & Material“ and „Light & Life“ as well as „Digital & Media“. The jury can award a “Special Award for Young Companies” across all categories for company founders and start-ups. The best marketable innovations will be awarded a total of 100.000 euros of prize money. The Thuringian Innovation Award thus is among the highest endowed State Innovation Awards nationwide.
 
Likewise, the "Ernst Abbe Award for Innovative Entrepreneurship" is offered for outstanding services to Thuringia as a science and technology location. The Thuringian Chambers can suggest suitable candidates for this personal award. The competition sponsors decide the awarding.
 
Companies of all sizes but also individuals, craft enterprises, research institutions and universities can participate. The prerequisite is that the company must either be located or have business premises in Thuringia. New products, processes and services, that have primarily been developed, designed or produced in Thuringia can be submitted to the competition. They must have recently been launched or be on the brink of their market entry and have the prospect of successful establishment on the market.
 
An independent jury of regional and national experts from business and science evaluates the submissions according to, among other things, the degree of innovation, entrepreneurial performance and market potential.
 

The award ceremony of the XXI Innovation Award Thuringia will take place on November 14th, 2018 in Weimar.
 
Applications can be submitted online as of now until June 30th, 2018.

Find more information on the Innovation Award Thuringia website.