Elaborations by Jonathan Glick, Consulate General of Israel in Munich
3-Sentence Pitch on the local Startup Ecosystem:
Strong and developing ecosystem with international affiliation. Very industry focused with many international players. Plenty of governmental support.
Sectoral Focus of the Startup Ecosystem
Industry focused on Auto industry and suppliers (Tier 1-3).
Local Financing Landscape/Presence of VCs
Business Angels are not very present. VC firms are around such as Bayren Kapital, Siemens Ventures, BMW Ventures, Allianz, Munich RE etc.
Presence and Industrial Focus of Established Industries
30% of DAX companies are in the Munich region, such as BMW, Siemens, Allianz and Adidas. Moreover, many international players have their R&D centers in Munich, such as Microsoft, Google, Intel and IBM. BMW has its accelerator in Munich, the BMW Startup Garage. Munich RE has its startup venture arm in Munich. Fraunhofer Venture is also around, and so is Bayern Kapital.
Presence of Incubators/Accelerators
TechFounders is a 20 week international accelerator involving industry aprtners and venture capitalists. Aim of the program is to match participating startups with industry partners as customer/investor. Two batches per year, 25K funding, office space, coaching and demo day.
Wayra is a Telefinca backed, digital business accelerator offering seed-funding, coaching, work-space and a global network.
Presence of Research Institutes and Universities
LMU (Ludwig Maximilian University) is the largest university in Bavaria and has faculties in all fields of study, with strengths in business, economics and law. The LMU is involved in the local ecosystem via the the LMU Entrepreneurship Center. The LMU Entrepreneurship Center inspires and motivates Students and Graduates to start their own business and provides support for realizing their visions and ideas.
TU (Technical University) is a very strong technical studies university (engineering, math etc.) and is involved in the entrepreneurial scene via the UnternehmerTUM – Center for Innovation and Business Creation. UnternehmerTUM offers founders and startups a complete service from the initial idea to IPO.