Munich Startup
LoopID, Certhub, Summ AI and Trail awarded at Weconomy

LoopID, Certhub, Summ AI and Trail awarded at Weconomy

Maximilian Feigl

Maximilian Feigl

Maximilian Feigl berichtet seit 2020 über das Münchner Startup Ökosystem. Dabei haben es dem studierten Politikwissenschaftler vor allem Deeptech-Themen angetan.

September 12, 2024

3 min. read time

With the Weconomy initiative, Wissensfabrik – Unternehmen für Deutschland e. V. aims to promote forward-thinking business ideas in cooperation with UnternehmerTUM and Handelsblatt. To this end, the best innovations from the tech industry are sought each year to help founders become successful entrepreneurs. Weconomy’s track record is impressive: 80 percent of previous winning startups are still successfully active in the market.

“Weconomy offers a unique opportunity to advance innovative ideas and network with experienced mentors and leading figures from the business world. This is of immeasurable value and made essential contributions to my company’s direction back then. That’s why I look forward each year to witnessing the passion and entrepreneurial spirit of the participants. This year again, there were wonderful people with visionary ideas,”

describes Ingmar Hörr, jury member, the competition. As founder of Curevac, he was himself one of the first Weconomy winners in 2007.

The ten winning teams that convinced the jury this year receive access to a network of specialists and executives through to top management of the German economy and a year of support in implementing and further developing their business ideas. They also receive individual support on various topics such as market entry, product development, and organizational and business development.

The Munich winning teams

LoopID helps companies transition their business models from linear processes to sustainable circular economy. The startup develops digital solutions that not only reduce costs and ensure compliance with new sustainability regulations, but also improve customer loyalty throughout the entire product lifecycle.

Certhub accelerates the approval process for medical devices through AI-powered software that automates and simplifies regulatory work. The platform reduces time to market by years and lowers costs for medtech companies for faster and more cost-efficient patient care in Europe.

Summ AI has developed a tool that translates complex texts into easy-to-understand language in real time, making information accessible to people with cognitive disabilities, educational disadvantages, or migration backgrounds. The AI tool reduces costs for authorities and companies in implementing linguistic accessibility and offers DIN-compliant translation into plain language.

Trail offers an innovative and user-friendly tool to automate AI governance for developers and compliance stakeholders. The tool helps companies scale trustworthy AI solutions and enables leaders to drive innovation. By integrating into existing development and governance workflows, the tool increases the quality and efficiency of AI and enables regulatory compliance (e.g., with EU AI Act) without bureaucratic overhead.

The other winning startups are Hydrop Systems from Stuttgart, Inline Process Solutions from Kaiserslautern, Coobi and Alganize from Berlin, Augmented Industries from Heroldsberg, and Fisego Holding from Butzbach.

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