The Einstein1 supports regional founders in developing their digital business idea, helps with financing issues and provides networking opportunities.
The Digital Start-Up Center Einstein1 is located directly on the campus of Hof University of Applied Sciences. It is the contact point for founders and start-ups from Upper Franconia and the Vogtland region. The focus lies in Big Data and its potential applications for industry as well as in the energy and healthcare sectors.
Einstein1 provides many services for upcoming new Start-ups in the digital sector:
Start-Up consultancy, Coworking Space with 30 worksations, fully furnished offices of 30m² providing up to 4 workstations each, rooms for seminars, meetings and conferences, a modern Business-Event location for i.e. Networking events or conferences as well as offering rentable business addresses. In addition, Einstein1 proactively promotes networking opportunities with key players in business, science, education and politics through events and networking activities.
Beneficiaries of this Good Practice are digital entrepreneurs, who want to start their business in the Upper Franconia region. Einstein1 has close ties with the Patent Center in Hof, the Institute for Information Systems and the Volkshochschule Hofer Land. In addition, relevant and established companies in the region are supporters of the Einstein1, which also serve as possible cooperation partners for newly founded companies.
Overall, Einstein1 ensures and enforces the fact, that the Upper Franconia region and the city of Hof is an attractive location for starting and successfully establishing a business.
Resources needed
The Einstein1 team consists of a Managing Director, a Scientific Director, a Networkmanager and a Start-Up Coach (3,5 FTE).
Budget for Building: 5.000.000,- Euro
Evidence of success
From April 2017 until November 2020 the Digital Start-up Center Einstein1 screened about 170 Startup-Ideas. About 50 Startups are in an incubation-phase and 23 Startups are funded and founded. The Start-Up Center Einstein1 organizes and hosts 60 events per year and there are about 500 people in their community.
Difficulties encountered
The Digital Start-Up Center Einstein1 faced the normal problems with the building process of their facilities.
The biggest problem at the moment: Corona/COVID-19. Therefore one of the important features of the Einstein1 - Coworking - is prohibited.
Potential for learning or transfer
It is a good idea to create a Start-up Center or an incubator-hub close to a University. In the case of Einstein1 it is Hof University of Applied Sciences. This creates a good ecosystem and infrastructure for entrepreneurs, who can therefore reach out to the research and science community, that are close by. Additionally the students get - from a very early stage in their studies - the perspective of starting something on their own and get into an entrepreneurial spirit right from the start.
Also it is necessary to develop and drive the network constantly and inspire the people in the region.
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Tags: Accessibility, Awareness, Buildings, Business, Communication, Competitiveness, Consultancy, Data, Digital, Digitalisation, Economy, Engagement, Entrepreneurship, Good practice, Incubation, Infrastructure, Innovation, Jobs, Management, Matchmaking, Networks, Regional, Smart, SME, Startups, Technology
