U.S.-based venture capital firm Quake Capital today announced the launch of Quake Europe, in partnership with hubraum, Deutsche Telekom’s technology incubator, as its anchor partner. Quake Europe will launch its inaugural accelerator program focused on consumer-facing, 5G immersive entertainment, as well as digital health and education applications. Priscilla Pesci, established entrepreneur and former studio executive with senior-level posts at MGM, FOX, CBS and Lionsgate, will lead the new entity based in Cologne, Germany.
Priscilla Pesci Will Lead the Program which Includes Funding for Early-Stage Companies and a Partner Ecosystem of Leaders in Media and Entertainment…
Other major sponsors of Quake Europe include Mediengruppe RTL Deutschland, the leading provider of video content in Germany, DWF, a global law firm with more than 30 offices worldwide, and SK Gaming, a global leader in esports. Moreover, NRW.INVEST, the economic development agency of the German state of North Rhine-Westphalia (NRW), will support Quake Capital in its settlement in NRW and contact with the regional media and digital networks.
Said Priscilla Pesci, co-founder and global managing partner of Quake Europe, “Twenty of the fifty highest grossing German companies are based in the NRW, and accordingly, there is great potential here to integrate technological innovation into a dynamic economic ecosystem. With our partners, Quake Europe is uniquely positioned to fuel application development in 5G for media and entertainment and connect the opportunities in NRW to our Los Angeles program in the United States and the world.”
Quake Europe will co-select up to 15 companies. Those selected will participate in a 3-month program from April 15th to June 29th with access to Deutsche Telekom’s 5G network. Quake Capital will contribute discretionary investments of up to €100k per start-up. hubraum and RTL will also independently reserve the option to co-invest. For further funding opportunities, Quake Europe will work with the Film- und Medienstiftung NRW, a funding institution for the film and media industry of the state of NRW, which supports films for cinema and television as well as the development of innovative audiovisual content. In addition to funding, start-ups will receive world-class coaching, personalized mentorship, free office space and access to Quake’s global network of investors and strategic partners.
Said Prof. Dr. Andreas Pinkwart, NRW Economics and Digital Affairs Minister, “In North Rhine-Westphalia we want to support innovative, young companies with great development potential. In this regard, venture capitalists are important partners. The settlement of Quake Capital is an excellent addition to our existing startup ecosystem, which will also broaden the scope of our initiatives in 5G. This partnership will build a bridge between Los Angeles and North Rhine-Westphalia and shall act as a blueprint for economic partnership through technology innovation.”
Said Axel Menneking, managing director of hubraum, “At hubraum we understand how to make collaborations between small and big companies fruitful. With this partnership we are excited to tap into the creativity of the entrepreneurial media ecosystem to jointly make next-gen technology tangible. This partnership will help us make this next-gen technology tangible putting new experiences quite literally into the hands of Deutsche Telekom’s customers.”
Said Julia Reuter, Chief Strategy, People & Culture Officer at Mediengruppe RTL Deutschland, “Pioneering spirit is part of our DNA, so we are very excited to join forces to meet new start-ups with a fresh view on producing new types of video content. We’re looking forward to see what new opportunities for information and entertainment we can open up for our viewers, users and employees with the services designed specifically for 5G.”
hubraum is Deutsche Telekom’s tech incubator. By bringing together early-stage startups and the leading European telecommunications company, hubraum fuels innovation transfer in 5G, AI & IOT technology to create new business opportunities for both sides. hubraum has connected startups and stakeholders via its digital ecosystem in Berlin, Krakow and Tel Aviv since 2012. hubraum offers mentorship, investment, unique access to Deutsche Telekom’s networks, clients and technology and free coworking space.
Mediengruppe RTL Deutschland is the leading provider of video content in Germany with 14 TV channels as well as the video streaming service TVNOW. With its broad portfolio of channels and online offerings, the Mediengruppe RTL appeals to a broad spectrum of target groups – with one goal in mind: to always offer the best content for each individual viewer. Mediengruppe RTL Deutschland is part of RTL Group, a global leader in broadcast, content and digital, with interests in more than 80 TV channels and radio stations, content production around the world and rapidly growing digital video businesses. RTL Group is a division of the international media, services and education company Bertelsmann.
NRW.INVEST GmbH serves as the central contact point for settlements in the German state of North Rhine-Westphalia (NRW). It provides potential investors from abroad with a one-stop service ranging from locational information and site searches to arranging and guidance through negotiations and approval procedures. NRW.INVEST works closely with the state government and regional and local economic development organizations in NRW. Investors who have already set up business in NRW receive special support with regard to expansion, startups, and spin-offs. Moreover, NRW.INVEST conducts international location marketing on behalf of NRW as a business location, with the aim of acquiring investments. Sole owner is the state government of North Rhine-Westphalia, represented by the Minister for Economic Affairs. In addition to subsidiaries in Japan and the USA, NRW.INVEST operates branch offices in China, India, Israel, Korea, Poland, Russia, Turkey and the United Kingdom.
Quake Europe is an early stage international accelerator, powered by our Accelerator Partner, Deutsche Telekom, that targets seed level investments in early stage consumer-focused 5G tech ventures in Europe. Both Quake Seed Capital Fund I and II are generating over 36% Net IRR in the US. Based in Cologne, Germany, Quake Europe’s 5G startups are uniquely positioned to successfully and quickly capture market share in Europe and the U.S. given immediate monetization opportunities with Deutsche Telekom.