Finalist

Innovation and Entrepreneurship Team of the Year Award

Gründungsgarage - Innovation and Entrepreneur Team of the Year

Finalist of the Innovation and Entrepreneurship Team of the Year Award

Gründungsgarage - Austria

""Transforming today's learners into tomorrow's leaders”"


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The Award Ceremony for this entry (award category "Innovation and Entrepreneurship Team of the Year ") will take place on 27 June 2023, 18:45 to 19:45 CEST.

Summary

The Gründungsgarage (GG) association has been a leading supporter of students and researchers with founding ambitions since its launch in 2013. With 40+ volunteers, including experienced mentors from the entrepreneurial world, GG has successfully supported more than 177 startup projects, of which 65 have successfully established themselves in the market, achieving an impressive 37% success rate.

GG's accelerator program, launched in 2013, is an inter-university initiative that focuses on interdisciplinary and early-stage support, involving all three main local universities. The program is open to all students and researchers with business ideas, regardless of their field of study. The structured course of a GG semester includes acquiring basic knowledge about founding a company, working on the team's own business plan, and having intensive coaching talks to further develop the business ideas. It also includes workshops on various topics to complement the preparation for everyday business life.

As an added benefit, the program offers students and researchers the opportunity to earn university credits. After successful participation in the program, GG offers alumni events, which mainly focus on the progress after the program, as well as further networking with personalities and exciting lectures on specialized topics.

The team at GG is led by highly experienced individuals, and is made up of a diverse group of experts who possess a range of skills and knowledge in entrepreneurship, business administration, management, innovation, start-up development, financing, and academic teaching. Their collective experience and expertise is focused on supporting the growth and success of new ventures.

Key People


Dr. Matthias Ruhri
Member of the Board (President) and Co-Founder
University of Graz



Mag.rer.soc.oec. Elisabeth Stiegler
Member of the Board (Vice President)
University of Technology Graz



Martin Mader, MSc
Member of the Board (Finances) and Co-Founder
University of Graz



Ass. Prof. Dipl.-Ing. Dr.techn. Christiana Ropposch
Member of the Board
University of Technology Graz



Mag. Dr. Julia Taferner
Member of the Board
University of Graz



Paula Sampl
Operations Manager
Gründungsgarage



Vanessa Fuchs
Operations Manager
Gründungsgarage



Maximilian Weber
Entrepreneur in Residence
Gründungsgarage



Elena Wippel
Marketing Manager
WEgrow Marketing


Acknowledgements

All sponsors, partners and supporters, students, alumni, mentors and experts

Images

Gründungsgarage Team

Final Pitching Event

Final Pitching Event

Pitching Workshop

Marketing Workshop

Business Modeling Workshop

Batch 2020

Mentoring Session

Alumni go 2 Minuten 2 Millionen

IMPACT STORY

Impacting lifes

Probando is a startup from Graz which participated in the GG's accelerator program 4 years ago. Probando's success is a testament to the power of entrepreneurship and innovation in changing the world for the better. The following story from Julia, a co-founder of Probando, underscores the impact GG's program can have:

“As a co-founder of Probando, I'm incredibly proud of what our startup has achieved. We've created a platform that has revolutionized the lives of people with medical conditions, providing them with access to cutting-edge therapies and medical products that are still in the testing phase, giving people an opportunity to try out new treatments and contribute to medical research.

It's been a challenging journey, but with the support of Gründungsgarage, we've been able to fine-tune our business model, expand our network, and take our platform to the global level. The resources, workshops, and mentorship provided by Gründungsgarage have played a crucial role in our success, and we're grateful for their belief in our potential.

Today, Probando is available in 15 languages and operates in 19 countries, and it's amazing to see the positive impact we've made on the lives of people with medical conditions. Our team of 20 passionate individuals is committed to making a difference, and we've created a community that works together to achieve this goal.
I'm proud to be part of this journey and incredibly grateful for the Gründungsgarage, without which our startup would not have been such a success.”

LEARNINGS

Lessons learned

To succeed in the competitive startup world, aspiring entrepreneurs need a supportive ecosystem that offers guidance, resources, and opportunities beyond a great idea, like Gründungsgarage’s accelerator program. While participating in a startup accelerator program is crucial, it is equally important to integrate into the broader startup ecosystem to harness existing synergies by defining interfaces and connecting with like-minded individuals who share a passion for the subject matter.

Moreover, the integration of higher education institutions can enhance the potential of the ecosystem exponentially. Creating touchpoints at all levels with students is crucial. The triple A of Entrepreneurship Education should be incorporated - academic courses to create awareness, events to shape the right attitude, and access to role models.

Non-publicly funded programs that help turn ideas into business models should also be made available. Integration with corporates can make the program more robust and increase public awareness and acceptance. However, it's critical to ensure the program's integrity is maintained and not influenced by corporates or other sponsors.

At the core of the program's success are motivated individuals who drive the program's mission and vision. It is essential to have people with passion and conviction at all levels and positions. Therefore, identifying these individuals within the ecosystem is vital.

In summary, being a part of a startup accelerator program is just the beginning. The key to success lies in integrating into the larger startup ecosystem and finding passionate individuals who can drive the program's success.

FUTURE PLANS

What's coming?

The startup accelerator program has the potential to not only facilitate co-founder matching and team formation, but also to offer a range of additional program modules that can benefit startups at various stages of their development. Additionally, networking within the ecosystem can be enhanced by connecting complementary or advanced programs.

The interface between startups and corporates is another area of potential development, with the possibility of considering two tracks (regular vs fast track) as not all startups are at the same stage (pre-seed vs seed). Furthermore, there are plans to establish “Entrepreneurship Agents” at all universities and faculties to be closer to students and to engage those faculties that are further away from the topic (e.g., Faculty of Natural Sciences, or Humanities) as well as other universities (e.g., University of Music and Performing Arts).

These plans show a commitment to continually improving and expanding the startup accelerator program, ensuring that it meets the changing needs of the startup ecosystem. By addressing the critical areas of co-founder matching/team formation, additional program modules, improved networking, and developing stronger relationships between startups and corporates, the program continues to provide valuable support to startups at every stage of their development.

The establishment of Entrepreneurship Agents at all universities and faculties is going to broaden the program's reach, making it more accessible to students across different fields of study and universities. This will further enhance the program's ability to identify and support entrepreneurial minds and help build a thriving startup ecosystem.

KEY STATISTICS

19

successful batches of the accelerator program

20

supported teams per year

177

supervised teams in total

37%

successfully established companies from the supported teams

22%

female founders

200+

jobs created by established companies

40+

experts and mentors supporting the teams on a voluntary basis

3 out of 4

universities in Graz are involved

Triple E Awards

The Triple E Awards are a global recognition of efforts toward the quest for entrepreneurship and engagement in higher education. It is the first award to focus specifically on different dimensions of the universities' third mission. Implemented regionally, the Triple E Awards aim to foster change in universities and to emphasize their role in their communities and ecosystems.

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