What is the TechFounders accelerator?
At TechFounders we are very passionate about technology startups and thus our high-tech accelerator was born! We believe that technology startups are different and require their own unique program for proper development and success.
Our accelerator focuses on startups in the automotive field, robotics, automation, clean-tech, software, telecommunications, electronics, big data, industry 4.0, mobility and related industries. TechFounders has a strong network and resources at the disposal of your team. This includes mentors, faculty advisors, industry partners, and venture capitalists. We are extremely proud of our fellowship of founders and associates focused on developing great technology.
What defines a 'Tech Startup'?
The definition of a Tech Startup is determined by the service or product offered. We welcome all business models (e.g. Freemium, SaaS, License, etc.) if they are operating in the fields we search for (see above, “What is the TechFounders Accelerator”).
When and where is the program held?
We have two batches per year: Our winter batch starts in January and will finish with the Demo Day in June, our summer batch starts in July and will finish in December. Every startup has unlimited access to the high-tech prototyping center MakerSpace, which houses 3D printers, laser cutters, water jet machines, wood cutting and much more. Throughout the program, there are workshop sessions, networking events, intensive customer and industry partner meetings determined by our startups’ own interests.
Do I have to relocate for the entire 20 weeks?
The coaching sessions and other events will take place in 5 out of the 20 weeks. The participation in these sessions and events is mandatory. However, during the presence phases in Munich you’ll still have some time for your daily business.
When is the application deadline?
Applications for our winter batch are open now. Application deadline is on March 29, 2020.
What stage of startups are accepted?
Early stage and seed companies who are looking to raise an initial round of investment funding may apply. As a guide, if you have not raised more than € 2M you may qualify. Generally, we are looking for “late” early stage companies that have a prototype and are looking to do a pilot project with one of our corporate partners.
How are the applications evaluated?
Your team is the most important element. We look at the founders to see if they exhibit traits that we believe are vital for startup success; such as tenacity, strong technical know-how, the ability to clearly explain complicated matters, great product sense and a clear passion for their business.
We prefer teams of two to three people as well as a harmonized group representing both the business and technical aspects of the company – although these are not strict rules in any way. We have found that the most effective founders are able to truly sell their vision and possess adequate foresight for future steps.
If the company is involved in direct sales, we look for vital, strong sales-centric business leaders. Alternatively, if the company is involved in online sales, we look for business founders with a natural ability in acquiring customers, conversion, retention, and design. In essence, we look for businesses that talented people would be excited to join.
Previous enterprise experience is certainly not necessary although always a plus. Aside from your team we also consider market significance. We focus on markets that are large enough to catch the eye of top venture funds. Stellar teams without a clear market focus still have the possibility to be admitted.
How will I know the status of my application?
If your application is advanced to the next round you will receive notice shortly before the next interview date. Finalists will be invited to pitch at a pitch event with one of our corporate partners. After this meeting you will be notified if you are being offered a place in the accelerator along with the terms of acceptance. You will be asked to respond very quickly (24 hours) if you accept the position, as others will also be waiting for placement. Please understand that we receive many applications and wish to evaluate each properly, so we ask for your patience during the application period. Please resist the urge to email us about your application status, we will contact you.
Who is behind the accelerator?
ALDI Nord & ALDI SÜD, DATEV, Festo, Knorr Bremse and Miele are our corporate partners that back the accelerator. These partners were specifically chosen because of their strong belief in the vision of our program. TechFounders values their feedback and their guidance. It is because of our partnership that we do not take equity.
Is there a short history of TechFounders and past startup alumni?
TechFounders was founded in November, 2014. We have a very strong track record of startups that have participated in our other formats offered by UnternehmerTUM, the center for innovation and business creation. In total, we supported already more than 70 startups. You can learn more about our alumni here.
Must I have an idea to apply?
Yes, and preferably already in execution. You must be prepared to work on a project together with one of the Industry Partners. If you are a younger stage company, we suggest looking into programs with UnternehmerTUM and related programs close by.
I have an idea but no team - Can I apply as well?
Yes, but frankly finding a team is half the battle. Find yourself a strong team and execute!
What happens when I join?
The following are some of the key points of the accelerator:
- Each team receives an initial investment of €25K (net).
- You will be provided with office space at UnternehmerTUM in Munich. You will have access to our open space.
- Meetings with several entrepreneurs, venture capitalists, and other experts are arranged. This includes people who are interested in helping you build your business and core focus on customers acquisition as well as venture capitalists who will provide business/product advice.
- There will be several pitch trainings throughout the program, as well as individual coaching sessions and workshops with other startups.
- There is a Demo Day (and fantastic after party) at the end of the program where you will have the opportunity to pitch to the top funding sources. There will also be guest lectures, mentor meetings, and other networking opportunities during the program.
Why would corporate partners invest in startups without equity?
Our corporate partners are always on the lookout for new and innovative concepts and startups. Startups are often more agile than established companies. Through TechFounders, our partner companies have the opportunity to get to know your startup in an early stage.
How much does it cost?
Nothing! Pretty cool, right? TechFounders takes no fees and zero equity. Our corporate partners finance the program.
Should international founders apply?
Absolutely! We are very keen on accepting founders from all over the globe and many of our alumni are from abroad. We do however require members (but not all of them) of the team to be physically present at TechFounders during the 5 presence weeks of the program. We encourage you to apply!
I have further questions... who should I contact?
Please do not hesitate to contact us for any further information. We are more than happy to answer all your questions.
Email us at email@example.com.
However, please resist to mail us regarding the status of your application or an evaluation of your startup prior to your application. Due to the high number of applicants we unfortunately won’t be able to answer them.