CAPTION: Andreas Pinkwart, Economics Minister of North Rhine-Westphalia. (picture alliance / dpa)
Physec, the Bochum-based start-up that focuses on IT security, will receive the NRW 2019 Start-up Prize, endowed with 30,000 euros, for particularly innovative business ideas. The state of North Rhine-Westphalia's Economics Minister Andreas Pinkwart praised Physec on Monday evening at a ceremony in Düsseldorf as a "worthy winner" and "a great example of the up-and-coming start-up state." Founded in 2016, the company offers solutions for data security in the so-called Internet of Things and employs more than 30 people.
The competition is aimed at companies founded between 2014 and 2017. Many of them already have a double-digit number of employees. Second place (20,000 euros) went to CH.Batsch Verfahrenstechnik from Meckenheim, which builds and develops distillation plants for solvents as well as energy-saving cleaning systems for industry. Third place (10,000 euros) went to the tiling company StoneTec from Bocholt, which uses modern virtual reality technology for project planning at the customer's site.
A total of 150 companies applied nationwide - significantly more than in the previous year (120). There was a final shortlist of 10 companies - including companies in the media technology, IT and process technology sectors, as well as a new start-up for "educational assistance and riding therapy." In addition, the state supports newly established start-ups for one year at a time with a monthly start-up grant of 1,000 euros.
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