In cooperation with the Bavarian Ministry for Economic Affairs, GrowthPlus Germany organised BAYERNS BEST 50 Awards event to honour the 50 fastest growing mid-sized companies in Bavaria.

On 12th March 2002, Minister Otto Wiesheu and GrowthPlus Germany Chapter Leader Martin Schoeller announced the top entrepreneurs in a ceremony at Münich Residence, one of Europe's most significant interior decoration museums.

Minister Wiesheu explained that he wanted to participate in order to strengthen the position of entrepreneurs, to recognise the exemplary character of the 50, and to highlight the relationship between entrepreneurship and the national economy.

The festive gala evening took place in a traditional atmosphere, yet was also dynamic and progressive. As a symbol of the economic growth in Bavaria brought about by the region's dynamic entrepreneurs, Minister Wiesheu handed a "Bavarian Lion" made out of porcelain to each of the successful entrepreneurs.

The top 50 were selected by a jury consisting of representatives from GrowthPlus Germany, Andersen (Munich) and Hermes Risk Management (Hamburg). The database started with over 2000 companies that were pre-selected by GrowthPlus and Andersen according to rigorous criteria.

Many industries were represented among the 50 winners. The biotechnology and medical sectors represented the highest relative growth areas in jobs, and the manufacturing sector created the highest absolute growth. In total, the turnover growth showed an average 117 % increase from 1996 to 2000, one of 21,3 % per year.

Among the top 50 were GrowthPlus members Consol Software GmbH, FJA AG, Genion AG, Ibex AG, Medigene AG, Morphosys AG, November AG and Puls GmbH.