For the third consecutive year already METRO AG and the US start-up network Techstars are jointly supporting start-ups with innovative digital solutions for the hospitality sector - with great success among international investors.
Ten startups in the third round of the METRO Accelerator for Hospitality, powered by Techstars.
- The third round of the successful mentoring program METRO Accelerator for Hospitality powered by Techstars kicks off in Berlin on 11 September 2017
- Ten start-ups were selected among several hundred applicants from 52 countries
- For three months, the teams will collaborate with more than 100 international mentors, get the opportunity to test their products in 500 restaurants and hotels, and receive €120,000 in funding each
- The highlight of the program: the participants will present their companies to a panel of international investors at the Demo Day in Munich on 12 December 2017.
For the third consecutive year already METRO AG and the US start-up network Techstars are jointly supporting start-ups with innovative digital solutions for the hospitality sector - with great success among international investors: In the first rounds, the participating start-ups generated an above-average total volume of over USD 55 million in venture capital. "Since we launched the accelerator program for hospitality in 2015 we have already selected and promoted 21 exciting start-ups, selected from several hundred applicants. We can with confidence state after the third round that the METRO Accelerator for Hospitality has turned into a fully established program. It is the first program to connect the hospitality industry with first-rate technology innovators. We offer start-ups the opportunity to test their digital products and services with 500 restaurants and hotels in five European cities", says Andreas Wuerfel, Director Global Innovation Community at METRO.
Today, the third round kicked off in Berlin. Over a period of three months, the participating start-up founders will collaborate with more than 100 international mentors to further fine-tune their business models. The real test will be the Demo Day in Munich on 12 December 2017: that is when the start-ups will present their business ideas to international investors.
"We are looking forward to working with the 10 teams selected for the third batch of the Accelerator for Hospitality", says Jens Lapinski, Managing Director of the program. "We picked up solutions that address the most urgent needs of the hospitality industry, such as managing customer feedback, improving customer service, and supporting key business processes. Over three intense months, the founders will spar with international mentors and work with investors on their funding rounds. This is how we help introduce new digital solutions that are tailored to the needs of hospitality businesses into the market", continues Lapinsiki.
Will restaurant visitors soon be calling the waiter with the help of an illuminated LED cube? Or will we soon have machines mixing cocktails so that the bartenders can focus even more on advising their guests? These are but two examples of what the routine at the restaurant of the future could look like if it were up to the start-ups who made it to the third round of the METRO Accelerator for Hospitality powered by Techstars. The ten companies were selected among several hundred applicants from 52 countries.
These start-ups from seven countries participate in the third METRO Accelerator for Hospitality powered by Techstars:
- BlendBow: A mixing machine that prepares perfect cocktails within just a few seconds
- Cuddl'Up: A digital end-to-end solution to optimize workflows in restaurants, personalize customer experience, accelerate customer satisfaction and increase significantly turnover
- FudyBudy: A restaurant system offering quality take-away lunches for business people
- GuestU: An in-destination App solution that gives hotel guests a personalized travel experience through the GuestU phone
- Impala: A cloud-based software for the management of small and medium-sized hotels
- KITRO: An IT solution to minimize waste in restaurant kitchens
- Nabl: Nabl collects customer reviews in restaurants, hotels and shops before they walk out the door
- Ordercube: An LED cube for guests to call the waiter by the push of a button
- Somm'It: A tool for the beverage management of restaurants who want to stand out with their selection of wines
- You There Inc.: A bot named Concierge that answers the online queries of hotel guests
Under the umbrella of the METRO Accelerator powered by Techstars, METRO and Techstars, in two programs, help international start-up teams in the development of digital solutions. One of the programs focuses on solutions for the hotel, restaurant and catering sector while the second program is aimed at the retail industry. In the framework of the three-month programs organised in Berlin, experienced mentors and experts will in each case help ten selected start-ups to successfully develop their own business further with regard to customers and investors. The METRO Accelerator powered by Techstars was launched in 2015 with a regularly hosted hospitality program that is the unique in the world. More information available at www.metroaccelerator.com.
METRO is a leading international specialist in wholesale and food retail. The company operates in 35 countries and employs more than 150,000 people worldwide. In financial year 2015/16, METRO generated sales of around €37 billion. The company provides custom solutions to meet the regional and international needs of its wholesale and retail customers. With its sales brands METRO/MAKRO Cash & Carry and Real as well as delivery services and digitalisation initiatives METRO sets the standards for tomorrow: for customer focus, digital solutions and sustainable business models.
Techstars is a global ecosystem that empowers entrepreneurs to bring new technologies to market wherever they choose to live. With dozens of mentorship-driven accelerator programs and thousands of start-up programs worldwide, Techstars exists to support the world’s most promising entrepreneurs throughout their lifelong journey, from inspiration to IPO. Techstars provides access to tens of thousands of community leaders, founders, mentors, investors and corporate partners, allowing entrepreneurs to accelerate the pace of innovation and Do More Faster™. Techstars supports every stage of the entrepreneurial journey - from the idea to venture capital investments to M&A and IPO. For more information visit www.techstars.com.