What?

The “Senat der Wirtschaft” should create a new division, a Start-up Hub, that is fully focused on providing ideal conditions for founders and new entrepreneurs to grow their young businesses. Membership models and Offerings can stay the same for the existing ecosystem, but they should be adapted to specifically fit the needs for the “new generation”.

Why?

Young entrepreneurs and their businesses are looking for added value everywhere. As they are already facing large amounts of risk and uncertainty, they are only interested in something that can actually provide a benefit for them. Their needs are well-known: Funding, Network of like-minded people, Expertise and so on. In essence, their needs differ from those of more established, successful companies and therefore aren’t attracted by the same offerings.

The Start-up Hub is a solution to all that, because it focusses on their specific needs. Both the Senat and the targeted “next generation” benefit.

On one hand, the Start-up gets: • Network of smart, like-minded people • Credibility because it’s part of a renowned ecosystem (Senat der Wirtschaft) • Better access to funding • Expertise and Coaching • Key Feature: Mentoring

For the Senat: If the goal is to rejuvenate the ecosystem, what better way to accomplish this, than to start by attracting the future of economy?

Key feature: There is immense value in building a bridge between young businesses and the more established companies. Both can help each other. While the young entrepreneur might lack some specific regulatory or financial expertise, the older and more experienced entrepreneur could profit from a fresh view on things.

As the Senat der Wirtschaft already has a large ecosystem of established companies, they should act as mentors for the younger entrepreneurs. All in all, a Start-up Hub would enrichen the entire Senat Ecosystem and create value for all involved parties.