University of Saarland and HTW Saar – University of Applied Sciences will run a three-month accelerator with funding from the Saarland government-backed Squash initiative.
University of Saarland and HTW Saar – University of Applied Sciences are to receive approximately €2.9m ($3.3m) in government funding to launch a Germany-based accelerator for university-linked businesses, Focus reported today.
The capital has been allocated through the second phase of a $5.3m funding scheme called Service Offer Qualification and Advice to Business Startups from Saarland Universities (Squash).
Squash is aimed at Saarland’s higher education sector and was initiated by the EU and Saarland’s Ministry of Economic Affairs, Employment, Energy and Transport.
Participants in the three-month accelerator will receive co-working space in a startup centre along with expert guidance and the opportunity to participate in workshops. Each cohort will feature five teams and will begin at nine-month intervals.
The inaugural phase of Squash ran from 2015 until June 2018 and helped spawn approximately 80 businesses which included AkknaTek, an ophthalmological technology startup based at University of Saarland.
