Deutsche Telekom AG (DAX: DKE) incubator hub:raum is teaming with Israeli accelerators TheTime and The Junction to support and advise Israeli B2C or B2B start-ups seeking a foothold in Europe as an alternative to the US. hub:raum adds that it is open towards additional partnerships with such programs.
The first start-up piloting the program is Tel Aviv-based Screemo, which enables users at sports events to create real-time personalized interaction between digital screens, social media, and their smartphones. Hub:raum and Screemo will carry out three pilots this year in Germany.
Under the three-month program, start-ups are prepared specifically for the particular requirements of the European market by mentors in Israel, while hub:raum speaks to pilot customers within and outside Deutsche Telekom, and arranges face-to-face meetings. It will provide the start-ups with offices by in Berlin to gain a foothold in Europe with local help and advice. Financial support also helps to cover some of the travel and accommodation costs. In return, hub:raum has secured the option of participating in the next start-up financing round via Deutsche Telekom's venture capital arm T-Venture.
"We know the start-up ecosystem and the in-depth technological know-how here in Israel, and hold this in high regard. We are able to open doors for the start-ups within Telekom and partner companies, giving them a further push towards success. In this way, we want to make use of synergies and bring products to the European market together", said Deutsche Telekom SVP new business and hub:raum Min-Kin Mak.
Published by Globes [online], Israel business news - www.globes-online.com - on June 16, 2013
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