Deutsche Telekom’s Hubraum opens programme in Tel Aviv

Tel Aviv
Tel Aviv

Tel Aviv

Deutsche Telekom startup support venture Hubraum is teaming up with peers in Tel Aviv to bring early-stage Israeli tech startups to Europe.

The new initiative, announced today, is a three-month acceleration programme in Tel Aviv and Berlin that will cover the cost of bringing companies to Europe (€10,000 plus an extra €5k per team member up to €20k), give access to a shared co-working office space in Berlin, provide participants with coaching, mentorship and help setting up potential customer meetings.

In exchange, participating companies must give Deutsche Telekom’s venture capital arm T-Venture the option to “participate in a future financing round as co-/follow-on investor with up to €300k and 20 per cent discount”. Participants must also spend a “reasonable” amount of time actively working on business development and sales in Berlin/Europe.

Israeli accelerators TheTime and The Junction are supporting the Hubraum Tel Aviv programme. The first company to sign up and be accepted is Tel Aviv startup Screemo, which develops real-time interactive and shared-screen products for sports fans. The Screemo team will use their time in the programme to roll-out three pilot projects in Germany.

It’s the third geographic foray for Hubraum following its launch in Berlin last year and new office in Krakow.

Image credit: Flickr user israeltourism

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