Munich, October 23rd, 2017
Last Thursday, founders, entrepreneurs, investors, and others from the German startup ecosystem gathered for the bi-annual Celebrating Innovation event in Munich. The crowd of over 300 guests was eager to find out which startups would have the opportunity to expand to the U.S. market with the support of German Accelerator Tech.
German Accelerator Tech’s selection committee spent two days getting to know 30 of the most promising German companies in person. The startups’ founders were invited to Munich from all over Germany to give a 60-second pitch and answer the selection committee’s questions. Thursday night, the 22 winners were announced during a celebratory event at the Alte Bayerische Staatsbank, in Munich’s city center.
In 2018, with the support of the German Accelerator Tech program, the 22 selected startups will have the opportunity to prove themselves in one of the world’s largest markets, the U.S. As part of the three to nine-month program, the startups will receive extensive coaching from the German Accelerator Tech team, hands-on mentoring, free office space, tailored workshops, unparalleled networking opportunities, and much more. They will become part of a vibrant startup community and receive the tools and resources needed in order to successfully and strategically scale to the U.S. – all while being fully immersed in the innovative Silicon Valley, San Francisco, or New York City startup ecosystem.
The program is primarily financed by the German Ministry of Economic Affairs and is completely free for the participating companies – they do not provide any equity nor pay any fees. The goal of the program is to help German companies scale internationally, and, as a result, to create jobs in Germany. The program therefore helps strengthens Germany as an innovation hub and the “Made in Germany” brand.
German Accelerator Tech’s track record demonstrates the success of the program. Thus far, German Accelerator Tech portfolio companies have raised more than $500M, 92% of them are still in business, and 10 have had notable exits. The 22 recently selected program participants have a bright future ahead of them.
Investors who attended Celebrating Innovation, such as Robert Wuttke, founding partner at 10x.group, expressed their excitement: “This event shows how many German startups have a chance in Silicon Valley due to their quality.” Maximilian Vrecko, investment manager at Surplus Invest GmbH, believes that exposure to the U.S. market will benefit the 22 winners: “Every founder who once has had to assert themselves in the U.S., comes back to Germany as a better entrepreneur.”
One of the Celebrating Innovation winners, Toposens, is a Munich-based startup that offers the world’s first 3D sensor system based on embedded software for ultrasound – used for innovative applications such as autonomous parking or anonymous people tracking. Barbara Brauner, Head of Business Development at Toposens, is thrilled about their acceptance into the program: “We are very well connected in the German automotive industry already – now we are looking forward to building our U.S. network with the help of German Accelerator Tech.” Franz Riedl, co-founder and COO of the Berlin-based startup Styla, agrees: “A new market entry is a special challenge. We are convinced that thanks to its workshops, mentors, and network, German Accelerator Tech will be of great help for us in conquering the most important global market.”
List of selected German Accelerator Tech winners:
About German Accelerator:
German Accelerator Tech is a three to nine-month growth accelerator empowering high-potential German tech startups to successfully enter the U.S. market with a program tailored to their needs. Through extensive hands-on mentoring, free office space, and immediate access to a top-notch network, selected companies are fully immersed in the Silicon Valley or New York City ecosystem right upon arrival. They are exposed to a dynamic international environment and dive into the world’s capitals for innovation and startup success. With the support of German Accelerator, startups save precious time and money in building their business in the world’s largest market. German Accelerator Tech was initiated in 2012 and is funded by the German Ministry of Economic Affairs as well as corporate partners. More than 150 companies have graduated from the program thus far. As of January 2016, German Accelerator has expanded its services and now also supports young German Life Sciences companies to enter the U.S. market via Boston.
Press Contact German Accelerator Tech:
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