RWTH Team Wins Award at Startup Competition
The Stage Two competition serves as a forum for startups from European Universities to present their innovative busines models.
A total of 30 European universities recently participated in the first Stage Two competition, which was organized by RWTH Aachen University and HHL Leipzig Graduate School of Management. At the finals in Berlin, 60 startups presented innovative solutions related to the topic – For Our Beyond. Mariya Gabriel, EU Commissioner for Innovation, Research, Culture, Education and Youth, was the patron of the event.
Professor Malte Brettel, vice-rector for industry and business relations and initiator of the competition, says: "Thanks to this competition, we have managed to give startups with enormous innovation potential an international platform early on. They have received direct feedback on their business idea from venture capitalists and potential pilot clients in industry. I look forward to seeing how the winning teams develop."
A jury comprised of representatives from investor groups and industry selected the winners from the 60 finalists – two startups per university.
RWTH Team – RIIICO
RWTH team – RIIICO – headed by Felix Fink and Jan Büchsenschütz, secured the HTGF Deep Tech Award of venture capitalist High-Tech Gründerfonds (startup funds), resulting in an investment of 600,000 euros for the team. They developed a tool for factory and logistics planners so they can collaborate on an AI-generated 3D model. This is intended to reduce downtime when planning and implementing plants and factories.
The Compular team from Chalmers University of Technology in Sweden won the Best Tech Innovation Award. Their prize money of 200,000 euros was donated by members of the Harvard Business School Alumni Angels Germany. The Aviant team from Norwegian University of Science and Technology was awarded Best Business Innovation and will receive an investment worth 200,000 euros, provided by STS Ventures.
The PEAK Digital Dream Team Award went to the Fimo Health team from the University of Cologne. The team members were pleased to receive a 150,000 euro investment from Amsterdam-based venture capital fund Peak.