Germany has a vibrant startup scene. Berlin, the second largest startup hub in Europe, has set its sights on becoming number one. However, Berlin is not the only city in Germany to boast a growing startup scene, the startup communities in Munich and Frankfurt are growing in stride. This makes Germany a great place to start or grow your startup internationally. Germany’s startup community includes many reputable accelerators.
Accelerators are basically ‘training schools’ for growing startups. Most accelerator programs offer capital and guidance, in the form of mentorship, workshops, and networking, in exchange for a percentage of ownership in the company. The contribution and ownership stake differ among accelerators. Accelerator programs are generally short, 3-4 month, programs that help startups manage and expand their business, often with the ultimate goal of completing a funding round at the end of the program. The culmination of most accelerator programs is “demo day,” an event where each startup showcases its business through a pitch to potential investors and the business community. Many accelerator programs focus on a specific industry or product/service type. Because accelerator programs are short, intense, time-consuming, and competitive, it is important to do your research when deciding whether or not to participate in a program and when choosing the most appropriate program for your company. Here is a list of some of our favorite accelerator programs in Germany.
Techstars: Techstars is one of the largest accelerators in the world, with programs worldwide. Techstars mostly funds tech-oriented companies. Companies that are accepted into the Techstar program receive up to $1 million in perks, including, but not limited to, back office services, marketing services, wireless internet access, and analytical tools. Techstars runs several programs in Berlin, including Techstars Metro and Techstars Metro Retail. Globig’s CEO and Founder, Anke Corbin, is a mentor with Techstars in Boulder, Colorado.
W1 Forward InsurTech Accelerator: W1 Forward is the accelerator program powered by WERK1, a leading digital incubator in Munich. W1 Forward was launched by WERK1 in 2015 together with leading insurance companies to establish a world leading hub for InsurTech companies. This six-month program is open to 5 companies from around the globe.
Startupbootcamp: Startupbootcamp is one of the top accelerators in Europe. Startupbootcamp Berlin works with startups in the smart transportation, energy, and digital health industries. Their three-month program offers office space, mentorship, and seed funding.
APX Startup Accelerator: APX is an early stage investor and startup accelerator based in Berlin. A joint venture between Axel Springer and Porsche, we believe that digital business models are blurring the borders between industry verticals. That is why we are cross-industry focused and why our two shareholders – in building diverse products and in running different businesses – complement each other so well in their support to APX.
Black Forest Accelerator: Black Forest Accelerator works with startups in the health and fitness fields. The goal of Black Forest Accelerator is to “connect early stage entrepreneurs with business leaders, investors and world-class athletes to help entrepreneurs to bring their product/service to market faster and to have quicker scaling.”
German Accelerator Life Sciences: German Accelerator Life Sciences (GALS) focuses on German life sciences companies. It is a private program supported by the German Federal Ministry of Economics and Technology, this is a three-month intensive that helps German technology start-ups enter the United States market. GALS is located in Cambridge, Massachusetts, the world’s leading ecosystem for life science research, development, and commercialization.
ProSiebenSat.1 Accelerator: ProSiebenSat.1 Accelerator is a three-month program based in Berlin that runs twice a year and hosts up to seven start-ups. The program offers an opportunity for startups to accelerate their business through the network of one of the largest media corporations in Europe. The program accepts startups from all industries but focuses on B2C businesses.
Climate-KIC Accelerator: Climate-KIC Accelerator focuses on climate impact by cleantech commercialization. The program is a 3-stage, 18 month programs where startups have access to European climate innovation network of leading corporations, universities, and research institutions. Climate-KIC has five innovation hubs in Germany, Berlin, Frankfurt, Hamburg, Munich, and North-Rhine-Westphalia. Its accelerator program is based out of Munich.
SpinLab: SpinLab is a joint initiative of Leipzig’s Cotton Mill and the HHL Leipzig Graduate School of Management. SpinLab offers a six-month accelerator program in Leipzig to teams with a good idea and a drive to succeed. SpinLab is free for start-ups and takes no share of equity.
Microsoft Accelerator: A program for later-stage startups, Microsoft Accelerator looks for companies that are ready to go beyond product development to scale their business. They offer four to six-month long intensive program in Berlin, that include CEO coaching, team culture development, recruiting talent, creating distribution channels with global Fortune 500s, learning how to work with big corporations and developing new markets.
Merck Accelerator: Merck Accelerator aims to help startups in the fields of healthcare, life sciences, and performance materials. It is particularly interested in companies looking to expand internationally. Merck offers mentoring, funding, coach sessions, and a sense of community to business hopefuls. This accelerator program is based in Darmstadt. They have online and offline coaching sessions, and they also run an extension program in Silicon Valley.
Participation in an accelerator program is a great way to grow or expand (particularly internationally) your business. Companies participate in accelerator programs in their home country or even in a country in which they are expanding into. So, a German accelerator program might be just what your company needs to enter the complex, but lucrative German market.
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Invest in Bavaria offers companies a wealth of free, confidential, and individual services for all stages of setting up a business in the state, from the planning phase, throughout the search for and selection of a location, to implementation.
To learn more about Globig’s decision to participate in an accelerator program, read our COO Ann Stewart Zachwieja’s article, The Startup Dilemma: Do We Have Time To Accelerate? MergeLane is a Yes
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