Munich Startup: Please introduce yourselves briefly.
Markus Walter, ITHM: The H+ Digital Health Innovation Programme represents a premiere: With the Insurtech Hub Munich (ITHM) and the dmac – Medical Valley Digital Health Application Center in Erlangen / Nuremberg, the teams from two major innovation hubs (both DE:Hubs) are collaborating. The startups are essentially getting a "Best of Bavaria" experience and can expect to be served pretzels and bratwurst more than once during the approximately four-month program...
No, seriously: H+ participants benefit from both dmac's expertise and network in the healthcare sector and the experience of ITHM, which has already supported many entrepreneurs with proof of concepts in the insurance industry. And the whole thing is equity-free!
Strong startups as reliable partners for companies and investors
The program's structure is based on the successful ITHM Innovation Program: On the one hand, we offer a challenging curriculum, mentoring, and business development from our team and countless experts. On the other hand, we connect startups with decision-makers from the insurance and healthcare industries and—very importantly—with our investor network. The primary goal is "de-risking," which opens up a long-term perspective for all involved: After all, strong startups are also reliable partners for companies and investors.
Given the current situation, the program is designed to allow participation entirely virtually. However, in-person events will also be held in Munich and the Medical Valley region where possible. We also offer founders office space at our home base, WERK1 at Ostbahnhof. Of course, COVID-19 brings with it restrictions and uncertainties – but in the recently concluded Insurtech Innovation Program, we had to switch completely to remote in the middle of the program, in March. This not only worked out well, but ultimately also made it easier for international stakeholders to participate.
Munich Startup: “To be successful, a startup must…”
Markus Walter, ITHM: ...bring a great openness to new things and a willingness to question themselves and their business model. This enables them to respond quickly and appropriately to current circumstances or customer interests. Given the "new normal" we all have to adapt to, agility and a willingness to pivot are more important than ever.
Munich Startup: Why does a good startup need an accelerator behind it?
Markus Walter, ITHM: We strongly believe in founders' personalities – the person behind them is more important than the idea. And as people, we're not only constantly learning, but also thrive on our connections with others, in other words, our network. As hubs, we open doors for startups that would otherwise have remained closed to them or that they wouldn't have even known existed. Our mentors, partners, and our team provide food for thought, impart knowledge, and perhaps even address uncomfortable truths – making us the ideal sparring partners for founders.
Munich Startup: What is the biggest mistake a startup can make?
Markus Walter, ITHM: Anyone who thinks they have found the secret formula for the world and, out of fear or arrogance, does not test it thoroughly, does not seek feedback, does not sufficiently explore the market and is not prepared to change their idea if necessary or to bring others on board, will often end up on their face.
“Adapt to the new normal”
Munich Startup: The trend of the year is…!
Markus Walter, ITHM: "Adapt to the new normal." And please don't lose sight of the trends of previous years—for example, the fight against climate change!
Munich Startup: Last but not least: Who do startups approach when they want to talk to you?
Markus Walter, ITHM: Everyone on our team is happy to talk to founders (because we take the “learning from each other” and “sharing is caring” principle very seriously). However, the shortest route for startups is via Corine Ackermann, Startup Relations Lead at ITHM.
