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23.05.2018

Bank Austria “next generation vol. 12” idea and business plan competition:
Winning teams captivate with innovative business ideas

  • The biggest idea- and business plan competition for students in Austria
  • For the last twelve years, the Federal Ministry of Education has been inviting students, together with UniCredit Bank Austria, the AplusB incubators and the Austrian Federal Economic Chamber, to develop business ideas and present them in the form of a business plan
  • Winner in the category "Best Business Plan" was a group of students from Vöcklabruck with their sustainable concept for the utilization of non "standard" foods
  • In the category "Best Business Idea", a group of students from Feldkirch convinced with their innovative accessories
  • The competition will continue in the next school year

The “next generation” business plan competition has taken place for the twelfth time this year. 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. The award ceremony of this year's competition took place in the festival room of UniCredit Bank Austria in Innsbruck.

Since September 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 advisors, which are available to students in all federal states. In addition, the winners will be invited by UniCredit Bank Austria to do an internship at the bank.

Susanne Wendler, Area Head Corporate Customers at UniCredit Bank Austria: "The students of today are the entrepreneurs of the future, especially in demand are entrepreneurial spirit, 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 that. "

“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.

Non-standard food
More than 500 teams participated in the competition this year. The submitted business ideas and concepts covered a wide range of topics. In the category "Best Business Plan" first place went to the group "Normfrei" of BHAK Vöcklabruck. They were able to win over the jury with their sustainable concept for using non-standard foods. Second place went to the "Parking Sharing" group of IBC Hetzendorf from Vienna with the idea for an app that helps to find free parking lots, according to the motto "FLOTT find a LOT". The podium was completed by the team "Thermox" of the BHAK Oberndorf (Salzburg), which aimed to bring a general-purpose thermo-snack box on the market.

Hood with storage space
In the category "Best Business Idea" first place went to BHAK Feldkirch from Vorarlberg. The team "EFS - Environmentally Friendly Solutions" introduced innovative accessories that convinced with integrated "storage space" for cash, credit cards and more. The second place went to a student team from the Schönborngasse (Vienna) with their business idea "FoodProt", a company that specializes in the production and distribution of protein-rich food from insects. Third place went to BHAK Spittal (Carinthia) team "BBe Fridge" with its revolutionary refrigerator and product recognition function.

For the first place the students received a cash prize of 1,000 euros, for the second place 750 euros and for the third place the prize money was 500 euros.

On April 18, 2018, Robert Zadrazil, CEO of UniCredit Bank Austria, invited guests to the "Festival of Ideas" for Vienna, Lower Austria and Burgenland in Vienna. Guest of honour of the event was Minister of Education Heinz Fassmann. On 5 April 2018, a major event was held in Linz for Upper Austrian projects.

More information and pictures at: www.hak-imst.ac.at/nextgeneration

Enquiries: UniCredit Bank Austria Press Office
Franziska Schenker, Tel. +43 (0)5 05 05-51417
Email: franziska.schenker@unicreditgroup.at