futureSAX GmbH

futureSAX is a project of The Saxon State Ministry for Economic Affairs, Labour and Transport. The object is aimed at founders, companies, scientists, and investors. The project is intended to promote founding and growth activities in Saxony, provide impulses for innovation, and bring together representatives from politics, science, research, and commerce. It also supports investors looking for new investment projects in Saxony.

The goal of futureSAX is to provide growth impulses to existing companies and support founders as they establish themselves in the market. Diverse competitions, information events, innovation forums, workshops, and investor roadshows will be organised for this purpose.

Since the summer of 2013, Fachverlag Moderne Wirtschaft GmbH (a company of the PwC Group) has been charged by the Saxon State Ministry for Economic Affairs, Labour and Transport with the execution of the futureSAX project.

Background/development
The Free State of Saxony can look back on a long commercial tradition, from its silver mines in the middle ages to semiconductor technology today. Saxony currently belongs to the top 20 innovation locations in Europe. The Free State has set itself the goal of becoming one of the top 10 most innovative and commercially strong regions in Europe.

For this reason, the Saxon State Ministry for Economic Affairs, Labour and Transport launched its business plan competition for the IT industry, futureSAX, in 1999. In 2002, the program was expanded to all commercial areas. As a knowledge and communication platform, futureSAX initially had the objective of supporting start-ups and young companies active in knowledge-based and technology-oriented fields.

Since mid-2013, futureSAX has supported companies not only during their founding, but also with growth. Among other things, different innovation forums, investor roadshows, events for transferring know-how between science and commerce, and innovation competitions are organised. The website www.futureSAX.de has also been developed as the central innovation platform of the Free State of Saxony.

Activities
Innovation Prize of the Free State of Saxony
The competition for the Saxon State Prize takes place every two years, and companies resident in Saxony who employee up to 500 employees may participate. Forward-thinking ideas are honoured, ideas that have developed into products, services, and process and organisation innovations. The Innovation Prize of the Free State of Saxony includes a 50,000 euro endowment, and a special prize has also been awarded by the Saxon Chamber of Commerce within the scope of the competition amounting to 5,000 euros.

futureSAX Idea Competition
The goal of the futureSAX Idea Competition is to promote innovative and growth-oriented start-up plans in Saxony and to develop initial ideas cooperatively into mature business ideas. The competition is aimed at students, scientists, employees, freelancers, and investors. The best business ideas and start-up concepts are selected and evaluated by a jury of specialists, and the winners receive an award at the Saxon Innovation Summit. The total prize money amounts to 30,000 euros.

Saxon Innovation Summit
The Saxon Innovation Summit takes place each year. The event is aimed at representatives from politics, science, commerce, professional associations, and commercial and start-up initiatives. Besides presentations, company visits, and a podium discussion, the Innovation Summit also provides a platform for the exchange of know-how. Among other highlights, the Innovation Prize of the Free State of Saxony is awarded within the scope of the Innovation Summit.

Innovation Forums
The semi-annual Innovation Forums examine new, innovative approaches and trends in diverse commercial areas. The forums act as a platform for information and communication. The goal of the Innovation Forums is to bring together representatives from industry, science, research, and politics in order to develop ground-breaking ideas, exchange know-how, and promote corresponding cooperation in Saxony.

www.futureSAX.org