Start-ups from all over the world have presented their entrepreneurial ventures to investors and potential customers on July 13th in Frankfurt. The Demo Day was the highlight of a four-month accelerator programme in which a total of eight young companies went through a tight training schedule.
Accelerator – long a familiar concept in the start-up scene. It is mostly backed by institutions that support young entrepreneurs and want to kick-start and accelerate their development process with the help of intensive coaching. “For an entrepreneur, courage alone is not enough, you also need 100% commitment,” warns Ram Shoham, the founder of Accelerator Frankfurt. Accordingly, the programme offered for new company founders is extremely demanding and highly challenging. Covering topics such as legal and tax issues, financing, communication, digital marketing and strategic planning, the promising business ideas are elaborated and matured in more than 200 hours of consultancy sessions to make them ready for presentation to investors and potential customers. What start-ups normally need around two years to accomplish can be effectively achieved here in just four months.
International start-ups present their concepts to investors and potential customers
A great deal is demanded in the programme from young entrepreneurs. Those who successfully pass through the application process come to Frankfurt. Together, they all work in an open-plan office, they meet together with mentors who have a lot of experience in the fields of industry, start-ups and finance, they are individually assigned a lead mentor, and they have the space to develop their business concept in meticulous detail. After all, every aspiring company wants to score points at the Demo Day.
The second wave of the Accelerator programme went into its final round in Frankfurt on July 13. Seven of the total of eight start-ups – Adjesty (Adtech, Israel), Aeroplan (Insurtech, Israel), AsiaFundManagers (Fintech,Germany), EcoKraft (Fintech, Germany), Norma (Cybersecurity, Korea), Smart Mile Solutions (Smart Cities, Netherlands) and Travel to Live (Traveltech, Canada/Sweden) – have successfully mastered their pitch. In addition, three start-ups from the VABN, a joint workspace in Frankfurt for business start-ups, also presented their ideas. The many international start-ups at the Demo Day underline the fact that Frankfurt is an attractive location for ambitious, up-and-coming start-up entrepreneurs from all over the world. There was also great interest from the other parties taking part in the event: around 200 investors were there, including many from abroad, for example venture capital lenders from Israel, along with representatives from the Ministry of Economics in Hesse and from the state’s economic development agencies.
The event was a complete success. Accelerator founder Shoham, who, together with co-founder Maria Pennanen, is enthusiastically committed to the objectives of this programme, is delighted with the results. He hosted the event together with Prof. Elmar Schütz, head of the VABN and co-organiser. The keynote address from Björn Weigel, co-author of “The Innovation Illusion”, also attracted great interest among those attending.
The next Accelerator programme will start on 25 September 2017. Those interested can find all the information they need about the application process here.
Picture credits: Jochen Biedermann, Accelerator Frankfurt