The “Innovation Program” of the InsurTech Hub Munich starts in cooperation with WERK1 #5

Translated with www.DeepL.com/Translator (free version)

In networking start-ups with medium-sized and corporate partners, we see WERK1 as a decisive factor for the success of digitalisation in Bavaria. Here we use our experience and our network to design complex accelerators or topic-specific programs for the benefit of both sides.

The InsurTech Hub Munich emerged from one of these programmes and since then has also been located in WERK1. This is where we are driving forward the digitalisation of the insurance industry. The entrepreneurial platform brings together the various players in the industry and inspires and organises them to work together on groundbreaking, innovative insurance products and services to revolutionise the future of the insurance sector.

The Accelerator Programme has been an elementary component of these efforts from the outset and has already enabled more than 65 national and international start-ups to gain access to the German insurance industry.

Through the ITHM we were not only able to gather very valuable insights about the industry, but also to start projects with exciting customers and partners!

Fabian Beringer – ebot7

APPLY NOW FOR THE INNOVATION PROGRAM #5!

With #5, the Accelerator Program enters the next round under the new name “Innovation Program”. While only 8-10 startups per #Batch have been added in recent years, the InsurTech Hub now takes the program to a whole new level: up to 40 startups are to be given the opportunity to qualify for the 1st phase of the program. You don’t want to miss a chance to give motivated founders with great ideas access to the program, says program manager Ben Shaw.

“We are looking forward to many applications from founders who are in the “pre-seed” to “series A” range with their startup and want to work with us on solutions for the insurance industry – and beyond.

WHAT’S NEW ABOUT THE “INNOVATION PROGRAM”?

Not only the name of the program is new, also the content is based on the feedback from the past programs much has happened: The time frame alone is extended to more than 16 weeks and thus more than doubled compared to the batch before. On the one hand, this is due to the larger number of participants, but it has also been planned in this way at the request of partners and startups.

During the Program, entrepreneurs are now trained according to the MIT curriculum and undergo a 24-step system developed on the basis of it. “In the future, we want to focus even more on training successful entrepreneurs,” says Ben Shaw. There is also an extended mentor matching system. More than 150 mentors from the InsurTech network will support the startups. Networking continues to be the central unique selling point of the program: 21 international corporate partners, 15 of which are well-known insurers in the German and international markets, will accompany the program and contribute their contacts in the sense of the startups. A unique opportunity for international startups to enter the European market or for national startups to further develop their own products for international markets.

The last building block concerns the topic of financing: for the first time, 10 selected VC partners are accompanying the programme, giving feedback and supporting planned financing rounds. Here again all information at a glance:

In WERK1 we are already looking forward to the start of the program and the entry of the first startups in our house. Until then, we keep our fingers crossed for all applicants to find their way into the program.

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