InsurTech Hub Munich receives a follow-up grant by the Bavarian Ministry of Economic Affairs, Regional Development and Energy
“We have built up a robust structure, a strong team and an ever-growing network”, outlined InsurTech Hub Munich’s (ITHM) chairman, Tom Van den Brulle, at the Bavarian Ministry of Economic Affairs, Regional Development and Energy, “we’re ready to deliver and push the innovation of the insurance industry”.
Director General Dr. Ulrike Wolf and Dr. Hans-Peter Kraußer (Head of Department Investment, Financing, Structural policy) had invited ITHM’s board and team to commemorate the Phase II grant awarded by the Ministry. Wolf said she was very satisfied with ITHM’s achievements in enabling cooperation between startups and incumbents and broadening the local ecosystem. She addressed: “You are a vital part of the continued promotion of Munich and Bavaria as an attractive financial center and the innovative capital of the insurance industry”.
The grant, effective for three years, mounts up to €1,550,000 and is the follow-up financing after the first phase ranging from 2017 to 2019. Dr. Robert Heene, president of ITHM’s advisory board, accentuated, that “the innovation landscape today is much more evolved than it was three years ago”. He and Van den Brulle pointed out the role of ITHM as an important facilitator for this change and appealed for keeping up this spirit: “We have to keep up the dialogue within the industry and beyond – even though we know that new challenges arise, especially in emerging fields like AI”.
Text: Markus Walter