Success story for the startup location Munich: The world's largest accelerator Plug and Play from Silicon Valley announced that it will be establishing its "InsurTech" vertical in Munich. The accelerator aims to provide young companies and founders in the insurance industry with a creative environment to grow and establish their business models permanently in the market.
The one that opened this year Digital Hub InsurTech is developing into a powerful engine for the digital startup scene in the insurance sector in Bavaria. Thanks to the Hub's financial commitment, the world's largest conference for digital startups in the InsurTech industry, with over 1,000 participants, will take place for the first time. Digital Insurance Agenda (DIA), in Munich.
Settlement is intended to revitalize the insurance industry
Bavaria's Minister of Economic Affairs Ilse Aigner, who is attending the two-day event today, sees this as a strengthening of Bavaria and Munich as a location for innovation:
"With the Digital Hub InsurTech in Munich, we have sustainably enriched the insurance startup scene. These efforts are already bearing fruit: The hosting of this year's Digital Insurance Agenda startup conference and the establishment of an InsurTech vertical from Plug and Play demonstrate that the hub is perceived as a driving force far beyond the borders of the Free State. This is revitalizing the insurance industry in Bavaria and strengthening the Free State's global reputation as an excellent, innovative, and creative digital location."
The settlement of Plug and Play was accompanied by Invest in Bavaria, the settlement agency of the Bavarian Ministry of Economic Affairs. Invest in Bavaria was also included in the Opening of the first vertical “Retail” Plug and Play, together with Media Saturn, was integrated in September of this year. Discussions are currently underway with various healthcare companies for a third vertical, "Healthcare," also in Munich.
