The Blockchainhub Graz and industry partners have announced a Blockchain Startup Contest to promote the revolutionary technology of blockchain and smart contracts in a much broader and faster way.

According to the website, the contest is accepting startup or ideas that are not older than 2 years since the last pivot. It is not necessary that the startup or idea should use blockchain technology, but it has to enrich the ecosystem of decentralized technologies. Participants will have to apply via F6S-platform and required to present a short presentation and a video with their team explaining about the idea they are working on.

The evaluation criteria will be based on timing, where traction, market interest, technology readiness and current market conditions will be taken into account. Also project idea, where problem solution, value proposition, existing competition and blockchain application will be evaluated. The selection criteria will also include scalability and market size of the business model, reduced fraud, better governance, high transparency of the project among others.

The price money will be 15.000 € that will be paid in bitcoin and ether, split into two categories – software and hardware startups. The last date to submit the proposals is on October 31, 2016. The contest is powered by premier sponsor Energie Steiermark, Erste Group and is supported by eCounting, Graz Writschaft and others.