The European Commission, DG III, in conjunction with Euro-CASE, has launched Information Technology European Awards (ITEA'95). Euro-CASE, the European Council of Applied Sciences, is an international, non-profit, independent organization of 14 academies of applied sciences, technology and engineering from the European Union and EFTA. ITEA '95 was launched on 6 June 1994, on the occasion of the 1994 European Information Technology Conference (EITC'94). The objectives of the ITEA's are to promote standards of excellence in European information technology performance and to stimulate innovation and competitiveness in industry. The ITEA scheme is intended to be distinguished for its excellence, objectivity and relevance to business and society. Each annual ITEA competition will relate to technological developments, innovative IT products as well as the application of IT in promoting industrial competitiveness or for the benefit of society. The schemes will be announced annually during the European Information Technology Conference. The theme for ITEA '95 is "Novel products with a high IT content and evident market potential". Three prizes of ECU 200,000 each and twenty prizes of ECU 5,000 each will be awarded. The ITEAs are open to any organization active in the field of information technology in the European Union or EFTA. The selection criteria include technical excellence, innovative content, potential for improving competitiveness, potential market value, capacity to generate employment by opening new markets or starting up new enterprises, contribution towards extending the acceptance and understanding of information technology by society, as well as the anticipated social benefits.