The new GIGA funding program aims to combine the strengths of the two international startup capitals of Munich and Tel Aviv. Applications for the first edition of the initiative are open until March 1.
The “German-Israeli Growth Accelerator”, or GIGA for short, is a program of the Strascheg Center for Entrepreneurship (SCE) the Munich University of Applied Sciences, the FOM University and the Consulate General of the State of Israel. Google supports the initiative.
GIGA is aimed at students and young entrepreneurs from Israel and Germany, with or without startup experience. Ten German and ten Israeli participants work in teams during the three-month program to develop their startup ideas and then present them to investors in Tel Aviv.
Israeli chutzpah meets German structure
The goal of GIGA is to further deepen the partnership between Munich and Tel Aviv. Both cities will benefit from each other's strengths. Participants will network with entrepreneurs from the other country. The teams will work on solutions for their ideas using a structured innovation process. Throughout the program, participants will be accompanied and supported by mentors from the Google and SCE networks. Prof. Klaus Sailer, Managing Director of SCE, says:
"Israel's reputation as a 'startup nation' is virtually synonymous with entrepreneurial spirit. Google has an equally superlative reputation for its IT innovation. Bavaria is an internationally outstanding hub for technical innovation and cutting-edge engineering. The cooperation network between these two flagship regions and Google holds extraordinary potential, which we intend to leverage in our joint program. We are very much looking forward to the first edition of the 'German-Israeli Growth Accelerator'."
Dr. Dan Shaham, Consul General of the State of Israel, is pleased about the launch of GIGA and explains:
“Through our past and ongoing experience with the Bavaria-Israel Partnership Accelerator We are convinced that the collaboration between young German and Israeli professionals is particularly fruitful. Through the combination of Israeli 'chutzpah,' boldness, and risk-taking, as well as German structure and many years of experience, the mixed teams at the German-Israeli Growth Accelerator can now complement each other optimally, try new things, and achieve great things."
Dr. Wieland Holfelder, Head of Development at Google Germany and Head of the Munich Development Center, explains his company's commitment with his own company history:
"Google was founded in a garage in 1998. Since then, supporting founders and startups has been part of our company's DNA. The GIGA project brings together two of the most important international startup centers, Munich and Tel Aviv. Google is represented in both cities with its own strong engineering and entrepreneurship teams, which is why we are delighted to support this new German-Israeli startup accelerator."
Online applications for the program are open until March 1st.
