GTEC will pay 50 thousand euros for innovation in the side chain

German Center for Technological Entrepreneurship (GTEC), with the support of its members and founders, of RWE and Globumbus companies created a total prize fund of 50 thousand euros for blockchain startups.

There will be four prizes established "gold" in the amount of 20 thousand euros, "silver" in 15 thousand, "bronze" in 10 thousand and the premium community of 5 million euros. Applications may be submitted until March 31, said in a press release. The award ceremony will take place on 7 April.

To apply for the award can be, regardless of country of residence, or the degree of elaboration of the project. Even the innovative ideas that don’t have practical development, can participate in the competition.

The scope of the study also does not matter. It could be finances, and perhaps any other area in which blockchain can be useful, such as energy.

"With the Innovation Award GTEC, we plan to establish contacts with experts, start-ups and promising talents. For us blockchain is a technology that has the potential for a powerful impact on the energy system in the future ", - said Thomas Birr, senior vice president of RWE and head of strategy and innovation.

Other areas that may be interesting to sponsors of the program include smart contracts, insurance, international money transfers, forecasting, registration services, machine learning, artificial intelligence, and many other areas.

Anyone who has applied for a premium, there is also the chance to win exclusive membership GTEC lab - annual support program, under which will be provided with office space in the center of Berlin, legal, tax and business consulting, business tools and direct access to international GTEC network of investors and consultants.

GTEC - a German innovation center, founded in 2015 and is aimed at uniting experts in the field of technological entrepreneurship resources and organizations.