The Media Lab Bayern is expanding its commitment as an innovation hub for digital media. Thanks to a tenfold increase in funding from the Bavarian State Chancellery, media startups can receive even better support. This includes a fellowship, for which founders can apply until June 15.
In the future, the Media Lab Bayern 16 startups per year with new offerings. Founded in 2015 as an incubator for media startups, the Media Lab has since evolved into a comprehensive innovation hub for the media industry. Two million euros are expected to flow into the funding programs in 2019 alone.
"Thanks to the initiative of the Bavarian State Chancellery, we can now make a real statement in media innovation. This not only strengthens Bavaria as a business location, but also benefits the innovative power of the entire media industry,"
explained Lina Timm, Managing Director of Media Lab Bayern. Under Timm's leadership, the Media Lab will support digital talent and ideas at every stage, from first-of-a-kind experiments to startup financing rounds. The successful implementation of innovation in media companies—an intrapreneurship program—is now also part of the offering.
With the expanded funding from the Bavarian government, a total of five new programs can be launched this year: the Media Startup Fellowship, the Grow Fellowship, the Summer School, the R&D Fellowship, and the Future Lab. In addition, a second location, the Media Lab Ansbach, was opened.
More than twice as much funding as before
The most interesting aspects for startups are certainly the innovations in the 'Media Startup Fellowship'.
- Firstly, the program was expanded to include a second batch per year.
- On the other hand, the number of supported teams per batch will double.
- In addition, the startups will receive more than double the funding they received previously, with up to €40,000. And all without having to give up any company shares.
A total of 16 teams will receive the best possible conditions to launch on the market in 2019. Eight teams had already started in Batch #5 in February, including Webmag and LuminovoInterested parties can now apply for Batch #6, which starts in September. The deadline for this is June 15th—it's worth being quick.
To qualify for the Media Startup Fellowship, teams should already have developed an initial prototype and are ready to launch their product. In addition to financial support, teams receive business coaching, workshops, and access to media mentors and partners from Media Lab Bayern.
For successful alumni, the Media Lab continues
There's also good news for alumni and future alumni of the 'Media Startup Fellowship'. Instead of being left alone after the fellowship ends, particularly successful alumni can continue to receive support through the 'Grow Fellowship', which was created at the end of 2018. This provides up to three startups per year with additional funding of €50,000. This is intended to facilitate growth up to the first financing round without having to give up any shares. What's particularly appealing about this is that successfully scaled startups only have to repay €201,452 million of this funding after three years.
International engagement, idea and co-founder discovery phase and networking in the Future Lab
The Media Lab's international engagement was also very well received. For this reason, the cooperation with the City University of New York will be continued. Media Lab Fellows can take field trips to New York and the SXSW make initial contacts in the American market in Austin.
But not only startups benefit from the Media Lab. New plans include
A summer school in July. This will enable digital thought leaders to test initial ideas for their own startups over a two-week period and find co-founders. Also being relaunched is the Future Lab, which brings media and tech companies together. Here, initial ideas for the use of new technologies such as AI, 5G, and voice assistants in the media will be developed in one-day events.
Click here to go directly to the application form for Batch 6
