Business plan competition “THE VENTURE”

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For the first time, a business plan contest has been launched in Germany, Austria and Switzerland in which the founders do not need to come up with an idea of their own. This is because “The Venture” has a dozen patents and technologies and business models are needed for these. Students and anyone else who is interested can apply to take part in the contest as an individual contestant or as part of a team (www.the-venture.info).

More information available from:

THE VENTURE Flyer

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Germany is one of the most innovative countries in the world, yet many patents end up falling by the wayside at companies, universities or research institutes. At the same time, there are numerous ambitious entrepreneurs out there who simply lack an awesome idea. This is why the FGF has started organizing the Business Model Contest known as THE VENTURE, which connects creativity with entrepreneurial spirit and builds on existing patents. Appropriately, the contest’s slogan is: “patent seeks founder”.

The candidates develop business models based on existing technologies. One example of a specific kind of technology for which budding entrepreneurs could develop a business model as part of the contest would be technology which connects the smartphone with cars. Possible business models might then be car sharing, fleet management or monitoring of cars and/or commercial vehicles.

The aim is to develop patent-based business models such as these into start-ups. The winners of the contest receive a free license for the patent (up to two years). Firms like HYVE or Social Venture Rock Your Life! have got involved. Additionally, universities such as TU Munich, RWTH Aachen or Magdeburg-Stendal University of Applied Sciences support the project.

We are looking for further universities, professors and lecturers to support THE VENTURE. Suggestions for patents and technologies are also welcome.