Startup contest / competition – get to know startups

Startup contest / competition – get to know startups

One of the many ways to get to know startups is to visit a startup competition or pitch competition. In our series of articles “Get to know Startups” we explain how a startup competition works, what criteria startups should meet and what added value they can offer to startups as well as companies and medium-sized businesses. We also present some particularly interesting formats that are definitely worth a visit. 

What is a startup competition and how does it work?

Startup contests offer the ideal opportunity to get to know interesting startups and innovative ideas. They can take place in different formats, on a regional, national or international level. In addition, there are two general types of startup competitions. Those which aim to promote innovation in general and are widely advertised (e.g. RuhrSummit), and those which are advertised by companies to solve a specific problem. It can be very useful for companies, medium-sized businesses and the public sector to attend a startup competition, as it allows easy networking. Here it is also useful to have already completed the identification of needs for your own company, so that you can look for innovative solutions and suitable start-ups. Participation also offers many advantages for start-ups, and can sometimes be the kick start in their career. Founders can get media attention and feedback just by participating in Startup Competitions, as well as potential investors or cooperation partners and, in case of victory, win financing. Usually, the competitions take place annually, or even semi-annually. The startups can present their company and business ideas in the form of speed pitches and are usually evaluated by a jury.

What criteria do startups have to meet?

The criteria that start-ups must meet to participate may vary from competition to competition. These may include the success of the business idea to date, the size and number of employees, or their age. For some organizers, the age limit according to the common definition that start-ups may not be older than ten years is sufficient, whereas in other competitions this period is kept shorter. In addition, competitions are often industry-specific, so that the core business of the participants must be thematically located in the corresponding field. There can also be different criteria with regard to the location of the startup. For example, some events are locally restricted and only accept participants from the respective state or region, while other competitions are announced nationwide. Especially larger events, which are partly sponsored by governmental institutions, also take place Europe-wide or internationally.

In our table you can get an overview of current, exciting Startup Contests. If you would like to post a challenge yourself or add it to the database, please use our form.

Examples for startup competitions

To give you a small overview, we would like to present some established startup competitions here, where it is worth to have a look. A sector-specific event in the industry sector that we have already presented on our blog is the Young Tech Enterprises, which takes place within the framework of the Hannover Fair. They are organized by the Hannover Fair in cooperation with the Federal Association of German Startups and take place once a year. Forty startups are allowed to present their business ideas in short pitches and compete for the prize of 5000€. Usually the pitching is done for 10 minutes on stage. However, since this year’s Hannover Fair took place in the form of the Digital Days, the twenty-two finalists were able to present their startups in three-minute YouTube speed pitches. Two more detailed articles on the first and second part of the Speed Pitches can already be found on our blog.

A further event, which is in the range of the Startup Competitions, which are purposefully written out by enterprises, is the Health i initiative of the technicians health insurance company and the trade paper. This initiative has already been in existence for five years.  It has the goal of promoting innovation in the health sector and is announced annually. The four “Health-i Pioneers”, the winners of the Challenge, are chosen by the Health-i Expert Board, which consists of seventy expert members. Among the winners of this year’s Challenge is the Startup Tricode, which has developed an app to digitally network blood donation centers and donors, thus promoting blood donation in Germany.

The Ruhr Summit is one of the largest B2B startup events and is taking place for the fifth time this year, but for the first time in digital form. With more than 450 start-ups and 500 companies from more than fifty nations, everything here revolves around innovative, digital solutions. Among the partners of the Ruhr Summit are the Techniker Krankenkasse, Zenit and the Ruhr IHK. Media partners include StartupValley.news, Deutsche Startups and the Rheinische Post. In addition to the startup competitions, this format also offers startup speed dating and the so-called Fuckup Night, where meanwhile successful entrepreneurs report on their failure and how they learned from it.

Participation in a start-up competition therefore offers numerous advantages, both for start-ups and for companies, small and medium-sized enterprises and the public sector. Start-ups are offered a stage to present their ideas, and thus the opportunity to win investors and cooperation partners, as well as to gain publicity. Entrepreneurs should not disregard this kind of format, as they can get to know some interesting start-ups and their innovative ideas. Since the events are often industry-specific, the broad start-up market is a bit more clearly arranged and it comes faster to a match. Startup Competitions offer added value for all participants and facilitate networking and initiating cooperation.