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7 Top Startup Accelerators and Incubators in Munich
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Accelerators and incubators in Munich allow startups from various fields to learn from the best experts, set up a viable business concept, find mentors and network with potential business partners. Every innovative entrepreneur from Munich will discover a program adjusted to his needs.
Accelerators and Incubators in Munich
Accelerators and incubators help startups in developing a viable business concept and finding networking partners. However, they work in a slightly different way.
In accelerators, entrepreneurs join few-month programs after going through an application process. They work with a group of mentors and gain access to a massive network of industry experts, investors, venture capitalists. Incubators usually work with companies on the earlier stage of growth. They help companies to refine their business ideas, build a business plan and define their market fit. What is more, they are often run by government entities, corporations or VC firms.
In Munich, the city’s ecosystem encourages innovative people to start a business. The town offers many investors, corporations, excellent universities, tech specialists and events. As a consequence, the number of startups grows, so as the number of accelerators and incubators. Below, we’ve listed 7 most interesting accelerators and incubators in Munich.
TechFounders is a 20-week international accelerator program of UnternehmerTUM – the Center of Innovation and Business Creation at TU Munich. UnternehmerTUM fund gives capital for promising young tech companies.
The accelerator connects tech startups with corporate partners and venture capitalists. They offer intensive coaching and mentoring, free office space, support, access to a high-tech workshop, €25000 project budget with no equity. During the 20-week accelerator program, they give intensive training and coaching. Startups collaborate with their leading corporate partners working on their products.Useful links: Website, Application
Wayra is a startup accelerator backed by Telefonica S.A. They work with startups focused on IoT, 5G, AI, Cybersecurity, Fintech, Retail&Omnichannel, HR Solutions and more, giving them access to technologies and experts.
Wayra organizes a 4-months program where startups can attract Telefonica as a client after a successful pilot project and customized coaching sessions. Startups learn about finance, team, sales and growth, and Wayra pays for their pilot project. What is more, they grant access to the office space in the center of Munich. After the program, companies can receive potential investment up to €350 000 and sign a commercial contract with Telefonica.
SCE Startup Inkubator
It’s an incubator from the SCE at the University of Applied Sciences Munich. They support business ideas from any type or industry: products, services, high-tech, low-tech, software, hardware.
Consultants provide starting entrepreneurs with workspace at the university incubator, a project budget and connect them to outside experts. Moreover, they regularly organize events when startups can talk with other entrepreneurs. The incubator offers a general startup consulting and the SCE Start-up League program which receives special assistance. The SCE Start-up League is a six-month support program with intensive coaching, office space and project-related resources. The Startup League consists of approximately 20 teams. Most importantly, all these services are free of charge.
Plug and Play
Since 2006, Plug and Play accelerate startups connecting them with corporate clients. Their venture team invests in over 260 startups globally every year. The accelerator has 25 locations in various places all over the world, among others in Silicon Valley. It creates an opportunity to reach new markets faster.
Plug and Play have special programs for various industries, for example, a 12-week accelerator program for fintech startups which runs twice a year. It connects startups to the world’s largest financial institutions like Deloitte, Credit Suisse, BNP Paribas, MVFG, Abu Dhabi Global Market. Similar programs are created for industries like insurtech, IoT, mobility, health, logistics and more. Most importantly, Plug and Play do not require equity.
Next47 is an independent global venture firm backed by Siemens. Thanks to their partnership with Siemens, they have access to international markets and a global customer base. Next47 has offices in 8 countries around the world.
Next47 supports startups that use deep technologies like Artificial Intelligence, Augmented Reality, Virtual Reality, cybersecurity, autonomous driving, IoT, robots, advanced manufacturing. Above all, they choose entrepreneurs who think big and want to solve the industry’s most difficult challenges.
It’s a startup incubator by UnternehmerTUM aimed for high-tech startups. XPRENEURS offer is directed at high-tech entrepreneurs from fields like smart city, mobility, smart enterprise, B2B software and hardware, medical technology. Above all, technologies of their particular interest are Artificial Intelligence, IoT, 3D printing, robotics, AR and VR.
XPRENEURS program lasts 3 months. They help startups enter the market by validating their business model. What is more, they help entrepreneurs to gain first customers and secure their first investment. Startups gain individual mentorship, insights on sales, marketing, operations, finance, team, intensive pitch and presentation training, as well as the mentorship of a group of Germany’s and Europe’s most successful tech entrepreneurs. Startups also gain access to “Marketspace”, the largest publicly available high-tech workshop in Europe. What is more, XPRENEURS offers office space on the 25th floor of the Highlight Towers. Most importantly, the program is free of charge and with no equity required.
BMW Startup Garage
BMW Startup Garage is an accelerator that cooperates with startups that have innovative ideas (of technology, product or service) that can contribute to BMW Group vehicles, services, factories and systems. They partner and become early-adopting venture clients of entrepreneurs who want to become significant players in the global automotive market.
Every year, the BMW Startup Garage contacts over 1 500 startups from all over the world. Then, they choose between 600 and 800 companies for detailed examination. After that, the best ones join the program.
The BMW group becomes the Venture Client of startups that enter the program. Above all, the goal is to develop a working prototype. In the meantime, startups learn from top engineers and managers, build a network of contacts within the company, receive advice about their business plan, use cutting-edge tools and cars in the BMW Headquarters.
In conclusion, if you are looking for help in growing your own business, incubators and accelerators can help you with gaining knowledge, investors and contacts. Munich offers entrepreneurs a lot of opportunities in that field.
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