Despite restrictions due to the corona virus, the STIFT presents the results of the new incubator / accelerator program, however in the form of an online event.
“Readyness makes the difference” – this is the motto of the Thuringian Regional Innovation Program (TRIP), which was initiated by the ThEx innovative project in November 2019 and is supported by the Foundation for Technology, Innovation and Research Thuringia (STIFT). As the first Thuringian accelerator program, TRIP brings ambitious innovators and start-ups at full speed towards investment readyness and thus offers a sound basis for market entry.
14 innovative projects from Thuringia which to challenge the status quo of the markets have enjoyed the advantages of the accelerator program for six months. In the monthly workshops and individual coaching sessions, the participants in the first TRIP class were able to deepen their knowledge in the areas of business model and strategy development, value creation, financing and leadership, as well as developing the first prototypes with the budget made available. After several months of intensive work on the way to investment readyness, it was time for the start-ups to present their results at the Demo Day.
Readyness is not just the keyword for the TRIP class. The willingness to make decisions, to take advantage of opportunities and to react to new situations has always been part of the start-up life and is now particularly in demand in the time of corona viruses. STIFT took on the new pandemic challenge and for the first time moved the start-up event entirely into virtual space. The Digital Demo Day took place on the 18th of March with 100 online guests from the start-up community in watch and chat rooms. At the same time, all curious and innovation-hungry people were able to follow the event via live stream in Facebook.
Christiane Kilian, project manager ThEx innovativ / STIFT, opened the event in a relaxed atmosphere via video conference. This was followed by the digital greetings from State Secretary Valentina Kerst, Thuringian Ministry of Economics, Science and Digital Society as well as from the TRIP partners bm | t, EY and the German Accelerator. Then the virtual stage belonged to the TRIP participants. With live pitches and interviews, they presented their development progress and the next milestones. The online audience could experience the TRIP Class in their “real living rooms” at home and explore a colorful mix of innovations directly on the screen and in chats: from agriculture to IT, smart energy and gaming to tourism and logistics solutions – there was a wide range of industries.
The start-ups were particularly excited to receive the tickets for the final TRIP class, which explicitly focuses on VC financing. At the end of the day, six projects from the accelerator program and 2 newcomers were able to look forward to tickets for the next round of TRIP. This means that a total of eight outstanding teams will continue to receive intensive support in fine-tuning their business model, with the aim of being “investment ready” by the Investor Days Thuringia, which take place on 16th and 17th June 2020 in Erfurt.
Despite its online format, the evening offered enough space for discussing, gathering feedback, chatting and having a good time. This completely new event experience inspired both the organizer and the participants to rethink the world of work and broaden their horizons. The TRIP program takes place in partnership with the Bauhaus-Universität Weimar and the Hochschule Nordhausen as well as in cooperation with Ernst & Young, the bm | t and the German Accelerator. Applications for the next TRIP class are possible until October 15, 2020.
TRIP is supported by the Free State of Thuringia and the European Social Fund.
