The State Prize for Innovation takes into account the fact that the overall economy benefits from the development and supply of new innovative solutions, products and services. One of the prize's main objectives is to continuously highlight these benefits. Only if the achievements of the companies are visible and comprehensible to the public beyond their respective industries can the key factor of innovation be given the significance it deserves in a modern, knowledge-based society, especially against the background of digitization.
The State Prize for Innovation is awarded each year by the BMDW in cooperation with the federal states in the form of a two-stage procedure and is organized and carried out by Austria Wirtschaftsservice GmbH (AWS) in cooperation with the federal states.
The participating companies qualify for the Austrian National Innovation Award via the respective state innovation competition.