Today we were notified about a new accelerator program. The new program, called Axel Springer Plug and Play tech center, will select 10 startups, who receive 25.000 euros in seed funding and 3 months coaching out of Berlin. The deadline for the program is April 19th and the focus seems to be on tech startups.
The program is an initiative by two parties: Axel Springer and Plug and Play Tech Center, a startup investor and accelerator based in Silicon Valley. These two parties have teamed up to provide a prgram similar to other accelerators, but located in Berlin.
We have not checked the details of the contract, but according to the press release Axel Springer Plug and Play ‘as a rule’ holds a five percent stake in any company in return for the program benefits. The program concludes like Rockstart and Startupbootcamp with a “Demo Day”, in which all of the teams present themselves to a selected audience of international investors for follow-up financing.
Saeed Amidi, CEO and founder of the Plug and Play Tech Center: “We are looking forward to getting in touch with the Berlin startup scene und its numerous creative founders. We guide and assist innovative startups on site with our accelerator and give them access to our international network.”Note to applicants: Please let us know if you apply, since we would like to have inside stories on the selection and the program. Leave your application reasons in the comments or mail us directly.
About the author: Sieuwert van Otterloo (twitter: @entreprenl) gives management advice with a focus on IT-enabled business. He gives software related advice via the Software Improvement Group, startup and innovation advice via Inbys and manages his own venture fund Otterloo Ventures. He writes for Startupjuncture and Frankwatching.