UnternehmerTUM has launched a new accelerator program: TechFounders. With the support of industry partners, it supports innovative technology startups. Within three months, TechFounders provides founders with intensive coaching and mentoring. This is intended to prepare them for their first round of venture capital and simultaneously initiate strategic collaborations. The program's first partner is the BMW Group.
According to Managing Director Lorenz Hartung, "TechFounders brings startups together with established companies. Both sides benefit from the collaboration." Working with an experienced and established partner can be an important step toward a breakthrough for startup entrepreneurs, says Hartung, emphasizing the advantages of such collaboration: "With a strong partner as a reference, it's easier to attract customers and investors. Established companies, in turn, benefit from the startups' technological pioneering spirit, risk-taking, and high speed."
25,000 Euro development budget
Startups with compelling innovative ideas are eligible for the program. In this case, companies from the automotive, big data, technology education, automation, and robotics sectors are specifically sought. In addition to coaching and mentoring, TechFounders provides its protégés – the program takes three companies under its wing each year – with office space and access to the high-tech prototype workshop TechShop. The teams also receive a development budget of €25,000 to start with.
The program concludes with the Demo Day, where the founders present their results to more than 100 investors and industry decision-makers. A particularly attractive feature for the startup entrepreneurs is that the founding teams do not have to surrender any shares of their companies for the services provided by TechFounders.
The program starts in April 2015, Applications are possible until February 27, 2015.
