Image ©: HP Tech Ventures
HP Tech Ventures, the corporate venture arm of HP Inc., is partnering with the international startup accelerator program TechFounders. The Munich-based accelerator program is part of UnternehmerTUM, Europe’s leading center for innovation and business creation, that actively identifies innovative technologies and triggers new business by connecting talented entrepreneurs with experts, capital, and customers. Through the partnership, HP Tech Ventures will have early access to cutting-edge tech startups while simultaneously providing a valuable contribution to society by supporting entrepreneurship and innovative impulses.
TechFounders has years of experience and expertise in driving corporate innovation by connecting world-leading companies with startups. HP Tech Ventures will join the upcoming Batch #15 along with the other TechFounders corporate partners: CLAAS, DATEV, Knorr-Bremse, and Miele. 137 startups have already gone through the TechFounders program, some of the most successful examples include IoT company KONUX, and award-winning barcode scanner manufacturer ProGlove. The average acceptance rate for the program is less than 3% of all applicants.
By collaborating with promising tech startups, HP Tech Ventures aims to accelerate their new incubation businesses that are disrupting large industries with solutions enabled by breakthrough HP technology, like 3D printing. For Batch #15, HP Tech Ventures has selected three startups that are creating highly unique products and solutions using molded fiber technologies.
“HP believes in the power of ideas,” said Andrew Bolwell, global head of HP Tech Ventures. “The Munich start-up community is well known for mature innovation and breakthrough ideas, and TechFounders attracts some of the most innovative thinkers from around the world.” Bolwell continued, “We are launching new businesses that leverage HP’s disruptive IP and technology to solve some of today’s most important challenges, including the elimination of single-use plastics and packaging waste. We want to work with startups who share that passion.”
HP Tech Ventures
As HP’s corporate venture arm, HP Tech Ventures is helping to foster an ecosystem of innovation and reinvention that will define tomorrow’s world and experiences, through strategic partnerships and investments in disruptive technology areas. HP Tech Ventures offers more than 80 years of experience in innovation and technology, backed by more than 18,000 global patents, to entrepreneurs around the globe. As part of a Fortune 100 company with world-class technology, one of the world’s largest channel and distribution partner networks, and a vast global manufacturing and supply chain, we are uniquely positioned to help our portfolio companies gain a foothold and scale quickly.
Download the full press release here.