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Outstanding success for young companies

PHYSEC GmbH has been awarded the main prize of the largest and most renowned business plan competition in the German digital economy as ‘Digital Start-up 2018’.

At the CeBIT in Hanover, PHYSEC GmbH was award­ed the “Dig­i­tal Start-up 2018” prize by the Fed­er­al Min­istry of Eco­nom­ics and Ener­gy (BMWi) as part of the nation­wide com­pe­ti­tion. The prize was award­ed for the first time and was aimed at young com­pa­nies that have been par­tic­u­lar­ly suc­cess­ful in imple­ment­ing their found­ing ideas. The prize-win­ners received their awards dur­ing the “Start-up Talk: Dig­i­tal Inno­va­tions” con­gress by Thomas Jar­zombek, the Ger­man government’s coor­di­na­tor for aero­space.

PHYSEC convinces with security for the Internet of Things

PHYSEC could con­vince with the solu­tion IoTree, the tech­nol­o­gy for secure and user-friend­ly encryp­tion of com­mu­ni­ca­tion between net­worked devices in the Inter­net of Things. IoTree uses infor­ma­tion from the com­mon envi­ron­ment of two devices so that encryp­tion can­not be recon­struct­ed after­wards by poten­tial exter­nal attack­ers.

More infor­ma­tion about IoTree and pos­si­ble appli­ca­tions can be found here.

The prize provides growth capital for young companies

The prizes of the com­pe­ti­tion are endowed with a total of 100,000 euros — first place goes to 50,000 euros, sec­ond place to 30,000 euros and third place to 10,000 euros each. Oth­er award win­ners include COMPREDICT GmbH, enve­lio GmbH and RIPS Tech­nolo­gies from Bochum. The prize mon­ey is to be invest­ed in the start-ups as growth cap­i­tal.

Start-ups from the start-up ini­tia­tives of the Fed­er­al Min­istry of Eco­nom­ics and Ener­gy can apply for the “Dig­i­tal Start-up of the Year” award. In addi­tion to the “Start-up Com­pe­ti­tion — Dig­i­tal Inno­va­tions”, this also includes fund­ing pro­grammes such as “EXIST — Start-ups from Sci­ence”. A fur­ther con­di­tion for par­tic­i­pa­tion is the gen­er­a­tion of a min­i­mum turnover of 100,000 with­in the past twelve months by the start-ups.

PHYSEC and RIPS Tech­nolo­gies are two of the award-win­ning com­pa­nies from Bochum — the glob­al­ly impor­tant loca­tion for IT secu­ri­ty.

The winners of the competition during the award ceremony at CeBit (©Andrea Janssen)