Starting today, startups once again have the chance to qualify for our InsurLab Germany Accelerator program. This year, the program is supporting up to 15 startups to further develop their companies and establish them in the German insurance market. The selected startups work for six months with the now 66 member companies - including 31 insurers - on their solutions and joint projects. "The first round of our Accelerator program was a great success. In 2019, we would like to go even further. We are very much looking forward to working with up to 15 startups on their solutions and realizing exciting projects with our members starting in May," says Sebastian Pitzler, Managing Director of InsurLab Germany. An application can be submitted up to and including March 8, 2019.
An individualized program awaits the selected startups
The InsurLab Germany accelerator focuses on supporting young startups in implementing their first projects and offering more mature startups a network with plenty of space and guidance for scaling. Within the six months of the program, participating startups are given individual mentors to work with, as well as several expert mentors to help them further develop their business models and solutions and actually implement projects. Among other things, the program includes workshops, pitch opportunities at conferences and events, and workspaces at the InsurLab Germany campus in Cologne. Younger startups also receive cash bonuses. The offer is completely free for the startups. "Our members and we are solely concerned with promoting innovative ideas and advancing the digitalization of our industry. For this reason, we do not demand fees or company shares from the selected startups," says Pitzler.
Startups of different maturity levels are sought
The participating startups are divided into two categories. In the "Start" category, young startups receive support and mentoring to develop scalable products and enter into initial projects with insurers. The startups in this category should have at least one prototype and have already developed a concrete business model.
The "Growth" category supports more mature startups in scaling and developing their businesses with the help of member companies and partners. Participating startups must already have valid business models and solutions and should have entered into an initial cooperation with an insurer or another company.
The selection of the startups is done by the InsurLab Germany members
The selection of the startups will be made during a Selection Day in April. Here, after a pitch, the members of the association decide who they see in the program and for which startups they would like to take on a mentoring role. Five other startups will be selected by a jury of experts. In total, up to 15 startups are slated for the second round of the program.
An application is available online via possible. The application deadline is March 8, 2019, and the program begins in May and ends in November 2019.