The company is a German manufacturer of fasteners, and the original fischertechnik set was intended as a Christmas (1964) novelty gift for engineers and buyers at industrial clients. The gifts proved popular, so for Christmas, 1965, the company introduced its first building set for retail sale in Germany, in part, it has been claimed, to foster education and interest in technology and science among the young. By about 1970, the construction sets were being sold in the United States at upscale toy retailers such as F.A.O. Schwartz. FT sets have won various educational and industry awards.