• Germany's news in English

Axel Springer launches tech startup accelerator

The Local · 12 Feb 2013, 13:41

Published: 12 Feb 2013 13:41 GMT+01:00

Facebook Twitter Google+ reddit

Operating under the name “Axel Springer Plug and Play”, German Vice Chancellor Philipp Rösler oversaw the signing of landmark deal in Silicon Valley at the weekend.

The programme will offer new startups three to six months based in the accelerator's Berlin headquarters, where they will receive office space and between €10,000 and €50,000 in funding to get going. Intensive coaching from expert mentors should also be part of the deal, New Business magazine said.

At the end, Axel Springer Plug and Play will get a five percent share in the business, The Next Web reported, adding that the publishing house – which owns sensationalist Bild newspaper – has been looking for tech opportunities for some time.

Kai Diekmann, the editor-in-chief of Bild, is currently in the middle of an eight-month sabbatical in Silicon Valley.

Kicking off in May, two cycles are in the pipeline for 2013 already and startups lucky enough to be chosen have the choice of spending some of programme in California at the Plug and Play HQ.

Plug and Play has been giving brand new companies the chance to grow into successful businesses since its founding in 2006. The Berlin venture will mostly be aimed at Germany and Europe-based companies.

Berlin has in recent years become a hotspot in the European startup scene thanks to cheap rent and an abundance of young, tech enthusiasts. Each year 8,500 new startups come out of Germany, the sixth highest amount worldwide according to Bild daily paper.

Story continues below…

Applications for a place on the two planned programme cycles will, The Next Web said, open on March 15th.

The Local/jcw

The Local (news@thelocal.de)

Facebook Twitter Google+ reddit

Your comments about this article

Today's headlines
Creepy clown scare spreads to Germany
Two of the clowns were apparently equipped with chainsaws. Photo: Pedro Pardo / AFP file picture

Police said Friday five incidents involving so-called scary clowns had occurred in two north German towns, including one assailant who hit a man with a baseball bat, amid fears that Halloween could spark a rash of similar attacks.

Student fined for spying on women via their webcams
Photo: DPA

Student from Munich fined €1,000 for spying on 32 different computers, using their webcams to take photographs, or record their keyboard history.

This is how much startup geeks earn in Germany
Photo: DPA

A comprehensive new survey of 143 startup founders shows how much you are likely to be earning at a German startup, from entry level all the way up to sitting on the board.

Man dies after beating for peeing near Freiburg church
The Johannes Church in Freiburg. Photo Jörgens Mi/Wikipedia

A middle-aged man from southern Germany has died after being attacked by a group of men who took umbrage with the fact he was urinating in the vicinity of a church.

The Local List
Seven German celebrities with uncanny doppelgängers
Former Berlin mayor Klaus Wowereit and actor Alec Baldwin. Photo: DPA; Gage Skidmore, Wikimedia Commons

Check out these seven look-a-likes of well known German figures - we admit that some are more tenuous than others...

Israel seeks to buy three new German submarines: report
A Dolphin class submarine. Photo: DPA

Israel is seeking to buy three more advanced submarines from Germany at a combined price of €1.2 billion, an Israeli newspaper reported Friday.

Here’s where people live the longest in Germany
Photo: DPA

Germans down south seem to know the secret to a long life.

More Germans identify as LGBT than in rest of Europe
Photo: DPA

The percentage of the German population which identifies as lesbian, gay, bisexual or transgender is higher than anywhere else in Europe, according to a new study.

'Reichsbürger' pair attack police in Saxony-Anhalt
File photo: DPA.

A "Reichsbürger" and his wife attacked police officers on Thursday, just a day after another Reichsbürger fatally shot an officer in Bavaria.

Five things not to miss at the Frankfurt Book Fair
Photo: DPA

From consulting a book doctor to immersing yourself in an author's world with the help of virtual reality, here are five things not to miss at this week's Frankfurt Book Fair, the world's largest publishing event.

10 things you never knew about socialist East Germany
Sponsored Article
Last chance to vote absentee in the US elections
How Germans fell in love with America's favourite squash
How I ditched London for Berlin and became a published author
12 clever German idioms that'll make you sound like a pro
23 fascinating facts you never knew about Berlin
9 unmissable events to check out in Germany this October
10 things you never knew about German reunification
10 things you're sure to notice after an Oktoberfest visit
Germany's 10 most Instagram-able places
15 pics that prove Germany is absolutely enchanting in autumn
10 German films you have to watch before you die
6 things about Munich that’ll stay with you forever
10 pieces of German slang you'll never learn in class
Ouch! Naked swimmer hospitalized after angler hooks his penis
Six reasons why Berlin is now known as 'the failed city'
15 tell-tale signs you’ll never quite master German
7 American habits that make Germans very, very uncomfortable
Story of a fugitive cow who outwitted police for weeks before capture
Eleven famous Germans with surnames that'll make your sides split
The best ways to get a visa as an American in Germany
jobs available
Toytown Germany
Germany's English-speaking crowd