The M.TECH Accelerator was inaugurated on Tuesday, 6 February 2018 by Dr. Nicole Hoffmeister-Kraut, Minister for Economic Affairs, Employment and Housing for Baden-Württemberg, and Fritz Kuhn, Mayor of the state capital Stuttgart. The official opening ceremony for the Accelerator took place in the wizemann.space in Stuttgart. Business ideas revolving around mobility are developed here in a creative atmosphere.
The partnership agreement between Festo and the M.TECH Accelerator programme – Engineering the Future of Mobility in Stuttgart – was already signed at the end of 2017. Now that the Accelerator has opened, the first co-operations can begin. Projects are expected to be carried out together in the field of project and automation technology.
The M.TECH Accelerator supports founding teams when it comes to implementing innovative business ideas in the mobility, manufacturing and engineering sectors. The M.TECH Accelerator programme funded by the state with Euro 700,000 is part of a nationwide network in which regional key technology aspects are set. The programme is supported by the state capital Stuttgart, bwcon GmbH, TTI GmbH at the University of Stuttgart, the Bwcon business initiative, the wizemann.space and the Stuttgart Region Economic Development Corporation. Once they have successfully applied, 25 start-up teams have the opportunity to work on developing their business model for twelve months and at the same time to network with investors and partners. In an alliance with other companies, Festo is providing start-ups with finance and ideas within the M.TECH Accelerator framework to help them grow.
Start-up co-operations at Festo
“We must keep an eye on the future, which is why we are always on the lookout for good ideas,” says Dr. Frank Melzer, Director of Product and Technology Management at Festo. “It is therefore only natural to look around in the field of innovative start-ups.” Partnerships and co-operations are an integral part of the Festo corporate philosophy. “That is why we support and sponsor start-ups and help these on their way into industrial practice,” stresses Dr. Melzer. As a result, 23 pilot projects have already been able to be successfully implemented over the last four years in conjunction with similar programmes.