At the Demo Day, the 10 international teams of the METRO Accelerator powered by Techstars presented their innovative business ideas to about 300 global investors, experts and multipliers. The Demo Day marks the completion and highlight of the second round of the world's first accelerator programme focusing on digital solutions for the food service and hospitality sector. After three intensive months in our co-working space in central Berlin - including comprehensive mentoring and coaching by leading industry experts under the leadership of METRO and Techstars - the founders now aim to attract more investors for their business concepts.
"Digitisation is increasingly asserting itself in the food service and hospitality sector as well. It's our goal to actively shape this transformation and help our customers to become even more successful," says Olaf Koch, Chairman of the Management Board of METRO AG. "With our accelerator programmes, we support innovations and help founders to test, improve and bring their ideas and solutions to market. We give them start-up assistance, provide support through our network and know-how, and are a critical companion and door opener. Many solutions simplify business processes, increase efficiency or improve the customer experience. In the end, the entire industry benefits from new business models and technological solutions."
Ten teams from seven countries were selected from more than 600 applications for the programme in October 2016 and were each supported with up to €120,000. During the three-month accelerator programme in the German Tech Entrepreneurship Center in Berlin, the start-ups gained access to market expertise and to METRO's customer and supplier networks. About 120 external mentors provided intensive support in more than 500 consulting hours dedicated to the start-ups. Many teams have successfully established products in the market or sharpened their business model and positioning in the accelerator.
"Highly motivated founders have refined relevant solutions for their customers in the accelerator. The great interest shown by investors at the Demo Day demonstrates that we are on the right track and confirms our course. We are helping new business models to grow and are connecting our customers with the digital world," Koch says.
Three of the 10 teams redesigned their business models completely: Apparier, Frag Paul (Ask Paul) and Hyre changed their brand and positioning.
"The founders have made enormous progress in a short period of time and with a tight programme. We are proud to support them with our advice, expertise and network, and to move them forward. The 10 international teams show that innovations also enable growth in areas that have barely been digitised so far, such as the food service and hospitality sector," says Alexander Zumdieck, Managing Director METRO Accelerator for METRO AG.
"METRO Accelerator powered by Techstars is a poster child and benchmark in the international start-up scene. In combination with the Demo Day and the alumni programme, we have created a unique platform for innovation and investment," adds Jens Lapinski, Managing Director METRO Accelerator for Techstars.
Under the umbrella of the METRO Accelerator powered by Techstars, METRO and Techstars, in two programs, help international start-up teams in the development of digital solutions. One of the programs focuses on solutions for the hotel, restaurant and catering sector while the second program is aimed at the retail industry. In the framework of the three-month programs organised in Berlin, experienced mentors and experts will in each case help ten selected start-ups to successfully develop their own business further with regard to customers and investors. The METRO Accelerator powered by Techstars was launched in 2015 with a regularly hosted hospitality program that is the unique in the world. More information available at www.metroaccelerator.com.
The METRO GROUP Wholesale & Food Specialist Company (W&FS Co.) is an internationally leading specialist in wholesale and food retail. With its sales lines METRO Cash & Carry and Real as well as its other associated companies, METRO GROUP W&FS Co. operates in 35 countries and employs more than 112,000 people around the world. In 2014/15, METRO GROUP W&FS Co. achieved sales of around €37 billion. The company provides custom solutions to meet the regional and international needs of its wholesale and retail customer.
Techstars is a global ecosystem that empowers entrepreneurs to bring new technologies to market wherever they choose to live. With dozens of mentorship-driven accelerator programs and thousands of start-up programs worldwide, Techstars exists to support the world's most promising entrepreneurs throughout their lifelong journey, from inspiration to IPO. Techstars provides access to tens of thousands of community leaders, founders, mentors, investors and corporate partners, allowing entrepreneurs to accelerate the pace of innovation and Do More Faster™. Techstars supports every stage of the entrepreneurial journey - from the idea to venture capital investments to M&A and IPO. For more information visit www.techstars.com.