InsurTech Hub Munich relaunches its ongoing Innovation Programme during the corona crisis, giving participating startups and corporate partners more time to scale up businesses
InsurTech Hub Munich’s (ITHM) 2020 Innovation Programme kicked off just perfectly early in February, the 39 participating startups delivering a first round of pitches and an impressive number of 170 business development sessions the weeks after.
By March 14, the entire team and all founders switched to home office, taking responsibility in minimizing the risk of COVID-19 virus spreading. Large parts of the Innovation Programme agenda were moved to online and video tools instantly. “We are privileged that the advancement of digitization has made possible what would have been unthinkable of only a few years – or maybe even months – ago,” comments ITHM’s Director Programs & Strategy Ben Shaw.
More time to dive deep into business development
Since day one of home office measures, the team has monitored closely both the feasibility of resuming the accelerator this way and the overall situation evolving. Having collected a lot of data, feedbacks and experience with remote work, ITHM has now decided to relaunch the ongoing programme. Participating startups, corporate partners, investors and mentors will be granted more time to dive deep into business development and build meaningful relations and possible POCs (Proof Of Concept).
Demo Day, the culmination of the Innovation Programme with the best startups of the cohort delivering their pitches on the grand stage, has been moved from mid May to June 18. All events during the new timeline will be accessible remotely.
Moving closer in tough times
“Of course a major component of an accelerator programme like ours is that people confer face-to-face”, Shaw explains. “With our workspaces at Munich’s WERK1 we provide the perfect layout for meetings with mentors, corporate experts or investors and for the participants to mingle among themselves. He adds: “But after all, flattening the curve is paramount now and we are in this together – globally! It’s overwhelming to see the support of everyone in our network, I feel us moving even closer in these tough times. I am confident that we are on the right track to make the best of the Innovation Programme and add maximum value for everyone involved.”
Text: Markus Walter