The Vision Lab program runs for six months and helps founders with a migration background successfully navigate the early stages of their startups. This is intended to make the local startup scene more diverse and Germany even more competitive as a center of innovation. In addition to Earlybird, the management consultancy Bain & Company is behind the project.
The first edition of the Vision Lab was launched last year. The second round of the incubator and funding program will again support eight startups. The talented founders come from twelve nations. The focus is on mobile robot kitchens, smart insurance, the circular economy, and social issues, among others.
“Founders with a migration background are involved in many economic innovations in Germany,”
says Bain partner and project coordinator Lars Dingemann.
"But especially in terms of bureaucracy and financing, the hurdles for them are sometimes very high. The same applies to cultural barriers. Together with Earlybird, we want to support them in overcoming these obstacles."
Vision Lab: “Great opportunity for Germany as a business location to become more innovative and diverse”
Vision Lab is based on a €2.5 million fund, which Earlybird's corporate partners and other supporters are providing from their own resources. The founding teams are each provided with up to €25,000 in the form of a convertible loan. In addition to financial support, they receive mentoring from experienced industry professionals. Workshops provide them with additional knowledge on product development, team building, customer engagement, and pitch situations. Networking events are another important component of the funding program.
“We are very pleased that the Vision Lab, after a successful start with the first batch, is now entering the second round together with Bain,”
says Hendrik Brandis, Co-Founder and Partner at Earlybird.
"Creating the right conditions for founders with migration experience is not only a social responsibility, but also a great opportunity for Germany as a business location to become more innovative and diverse. We want to help them turn their strong ideas into successful companies. The startups from last year's cohort have shown that this works brilliantly."
Here you can find further information and an opportunity to apply for the Vision Lab.
