Germany’s Minister of Economics and Technology Philipp Rösler – along with his entourage of 100 entrepreneurs – made a whirlwind promo tour of Silicon Valley this week. During the trip, Rösler announced that the German Silicon Valley Accelerator (GSVA) will be expanding its programme to support twice as many tech startups as before.
Launched in 2012, the programme offers German IT startups the opportunity to go to Silicon Valley for three-to-six months of intensive mentoring, networking and acceleration of the company’s growth in the US market – all for free. GSVA, which is supported by the German Federal Ministry of Economics and Technology (BMWi), the EXIST Programme and other partners, does not take any equity from participating startups.
“The programme has seen a growth in applications of more than 30 per cent for its biannual selection process. We are also pleased that the quality of the applying startups has continuously improved,” said Dietmar Harhoff, Chairman of GSVA.
With the accelerator’s expansion, GSVA is planning to open a second location in San Francisco. The programme hopes to bridge the gap between Germany and Silicon Valley as well as facilitate German startups in becoming successful and internationally recognised companies.
featured image via GSVA Facebook page
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