Strüngmann brothers invest 25 million euros in Munich start-ups
Munich — Great news for the Munich start-up scene: UnternehmerTUM and the TUM Venture Labs will be supported by the entrepreneur brothers Andreas and Thomas Strüngmann with 25 million euros over the next 10 years. This funding will give Europe’s largest start-up and innovation center at the Technical University of Munich and the new TUM Venture Labs a major international boost.
“UnternehmerTUM and TUM have built an outstanding start-up ecosystem over the last twenty years. With our commitment, our family would like to make a contribution to accompany even more students as well as scientists on a successful entrepreneurial path,” say Andreas and Thomas Strüngmann.
The two entrepreneurs are known as successful investors, having invested early on in the now globally renowned biotechnology company BioNTech and in the generics manufacturer Hexal.
Direct research transfer
The TUM Venture Labs initiated by TUM and UnternehmerTUM offer an internationally outstanding funding infrastructure for one specific technology field each. They are specifically focused on significant technology fields and create dynamic ecosystems of start-ups, academia, investors and experienced companies.
The integrative collaboration of the individual TUM Venture Labs enables innovation to emerge at the interfaces between technology fields, distinguishing them from similar start-up initiatives at other top entrepreneurial universities worldwide.
Around 100 high-potential startup teams are already under the care of Venture Labs, benefiting from tailored support services, incubation space, training and venturing programs, and access to global networks of companies and investors to prepare their startups.
A milestone for the innovation metropolis of Munich
Prof. Thomas F. Hofmann, President of the Technical University of Munich, sees the cooperation as “another milestone in Munich’s development into the leading technology innovation center in Europe. I am confident that other partners from business, science and politics will join our initiative to use the TUM Venture Labs to spawn entire families of start-ups from the founding state of Bavaria that are internationally competitive with research-based deep-tech applications.”
“The unique selling point of Munich’s innovation and startup scene is the pooling of forces between universities, startups, the public sector, established companies and entrepreneurial families,” says Prof. Helmut Schönenberger, founder and CEO of UnternehmerTUM and Vice President Entrepreneurship at TUM. “The Strüngmann family’s commitment to UnternehmerTUM and TUM Venture Labs is a wonderful example of the spirit of cooperation at Munich’s innovation and start-up location.”