On Thursday the WERK1.Bavaria its doors were ceremoniously opened. The WERK1 Well, not really, but some interesting neighbors have now joined the incubator in the Kultfabrik. The new companions are none other than the MEDIA LAB BAVARIA, invest in bavaria and that Media Network Bavaria.
The event was opened by Ilse Aigner, Bavarian State Minister for Economic Affairs and Media, Energy and Technology, among others. The future cooperation between the various stakeholders in WERK1.Bayern is expected to create valuable synergies and raise the profile of Munich's startup scene. Representatives of the individual partners repeatedly stated that they want to "mutually enrich each other."
Minister of State Aigner praised the atmosphere and potential of the WERK1. The pioneering business incubator is intended to serve as a "blueprint" for future projects in all Bavarian administrative districts. It's clear that something is happening in the startup landscape in and around Munich, and considerable investment has already been made to create even better conditions for startups, Aigner said. However, a lot still needs to be optimized, especially in the area of financing conditions, to make the business location attractive to investors and venture capitalists.
In a relaxed and pleasant atmosphere, guests were able to network and chat at the Founders Lunch Date that followed. After the official opening, guests were also able to take a closer look at the WERK1 premises and experience the diversity and quality of the startups based there. WERK1 is currently home to 31 startups on approximately 3,000 square meters of space.
The expansion to WERK1.Bayern is definitely a step in the right direction, a step forward. It demonstrates that Munich is a diverse and innovative startup hub, and that there's still a lot of potential here that needs to be tapped into.
State capital secures share in WERK1.Bayern
The City of Munich has participated in the digital startup hotspot and secured a share in WERK1.Bayern. Mayor Josef Schmid, Head of the Department of Labor and Economic Affairs, commented: "I'm delighted that the city is joining WERK1.Bayern GmbH. WERK1 is already an incubator for young, innovative, future-oriented companies, especially in the media and gaming industries. I'm committed to effectively supporting startups, the creative industries, and ICT and high-tech companies. This is forward-looking economic policy and guarantees both the dynamism and stability of our business location..“
