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.