Bank Austria “next generation vol. 12” idea and business plan competition:
500 teams of students captivate with innovative business ideas
- The biggest ideas and business plan competition for students in Austria
- Students were called upon to develop innovative business ideas and present them in the form of a business plan
- The partners and sponsors of the event are the Austrian Federal Ministry of Education, Science and Research in cooperation with UniCredit Bank Austria, AplusB-Gründerzentren, entrepreneurs from the Junge Industrie Burgenland, Niederösterreich & Wien network, and the Tyrolean Economic Chamber as well as the eesi Impulszentrum and the ifte.at association
- CEO of UniCredit Bank Austria Robert Zadrazil invited a guest of honour, Austrian Minister of Education Heinz Faßmann, to attend the “Festival of Ideas” at the UniCredit Bank Austria premises at Schottentor
The “next generation” business plan competition is taking place for the twelfth time this year and is now regarded as an integral part of the curriculum of vocational schools and colleges in Austria. In addition to raising awareness about starting a business, the competition should above all promote entrepreneurial thinking and action as well as the commitment of the students.
On Wednesday, 18 April 2018, CEO of UniCredit Bank Austria Robert Zadrazil invited the teams to attend the “Festival of Ideas” for Vienna, Lower Austria and Burgenland at the premises of UniCredit Bank Austria at Schottentor. The guest of honour was Austrian Minister of Education Heinz Faßmann. On 27 April, another “Festival of Ideas” will take place in the ceremonial hall of UniCredit Bank Austria in Innsbruck for the final award ceremony for all national winners. A large event was already held on 5 April 2018 in the panorama room of WIFI Linz for the projects from Upper Austria.
More than 500 teams participated in the competition this year. The business ideas and concepts span topics such as new nutrition concepts, solving parking problems, environmental protection schemes and social business. Among the winners in the ideas competition were the concept for an app that allows young people to network with publishers and demonstrate their creativity, and the idea of “Running Brettljause”, which wants to breathe fresh life into traditional taverns in the style of a conveyor belt sushi restaurant. The “foodprot” team wants to produce and distribute environmentally friendly food made of insects. A completed business plan was presented by “Book your room” to improve the use of parking space capacities, as well as “KuK”, which wants to revive old culinary traditions, and “seniorTec”, which connects youths as tutors with seniors.
In addition to the winners in the federal states, prizes such as the “Social Entrepreneur of the Year” were awarded. “Receive” was awarded, a project that counteracts the environmental impact of the increasing amount of printed receipts due to changes to Austrian law. Since September of last year, the students have worked on their projects with the support of their teachers and business coaches. UniCredit Bank Austria also supports the business plan competition through coaching talks with corporate customer advisers, which are available to students in all states. In addition, the winners will be invited by UniCredit Bank Austria to do an internship at the bank.
“Each year, students put forward very innovative ideas. The goal is to understand economic relationships, develop business ideas and present them in the form of a business plan. Many of the teams use their concept to implement the idea,” explains the organisers Martin Wegscheider, eesi State Coordinator for Tyrol, and Johannes Lindner, eesi Federal Coordinator and ifte.at.
At the event, the Austrian Minister of Education Heinz Faßmann emphasised that the ideas competition hopes to encourage young people to look at their environment in a vigilant and critical manner, to take advantage of existing opportunities, and to develop ideas and solutions for them.
“The students of today are the entrepreneurs of tomorrow, and there is great demand for those with an entrepreneurial spirit, the courage to take risks and openness to new things. As the leading Austrian bank for corporate clients, we naturally want to support young entrepreneurs right from the start. The business plan competition is an ideal platform for this,” says Zadrazil.
Enquiries: UniCredit Bank Austria Press Office
Franziska Schenker, Tel. +43 (0)5 05 05-51417
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