Saxony supports start-ups with 30 million euros for accelerators

Start-up assistance for start-ups: Saxony wants to strengthen the start-up landscape in the Free State with a funding program for so-called accelerators. Accelerators are institutions that take in start-ups for three to twelve months in so-called start-up classes, offering them office space, technical infrastructure and structured training measures, as well as intensive support from mentors. Around 30 million euros will be available for this purpose until 2027, as the Ministry of Economics announced in Dresden on Thursday. 25 million euros will come from the European Regional Development Fund and 5.3 million euros from state funds. "Now we are launching our call for the construction and operation of probably three new accelerators. I am excited about the submitted concepts," said Economics Minister Martin Dulig (SPD).

The concept of accelerators developed in Silicon Valley (U.S. state of California) has also spread strongly in Europe in recent years, it said. A good 84 percent of German accelerators were operated by established private companies in 2018, it said. In Saxony, only a few institutions have so far succeeded in establishing an economically viable program.

"It is precisely such structures that we need here in Saxony," Dulig stressed, however. Especially in the start-up phase, he said, the risks are high and can be significantly reduced by professional guidance and support. Applicants for the program can submit their concepts online to the Sächsische Aufbaubank until the end of October.