Blockchain: Porsche Announces First Innovation Contest for Start-Ups

[HHL gGmbH - 03.04.2017] Founders focusing on blockchain technology can now apply for the premiere Porsche Innovation Contest. In addition to collaborating with the Stuttgart-based sports car manufacturer, start-ups have the chance win EUR 25,000 in prize money as well as the opportunity to participate in the SpinLab - The HHL Accelerator program for three months. Applications are being accepted until May 15, 2017 via the F6S platform.

Porsche aims to obtain external input on the disruptive potential of the blockchain transaction system by collaborating with the start-up scene. To what extent does the application of this technology in the value creation chain of the company make sense? Moreover, other forms of potential long-term collaboration should be investigated.

Blockchain is a type of digital ledger for contractual transactions between computers. The technology was originally developed for the financial world. The decentralized and extremely transparent booking system has the potential of being extended to the trading of shares, cars, houses, i.e. any type of contractual transfer: middlemen such as notaries or banks would become superfluous.

Accompanying support by SpinLab - The HHL Accelerator

SpinLab - The HHL Accelerator is a useful extension to the field work between the sports car manufacturer and the start-up which will eventually be selected. Located on the premises of an abandoned Leipzig cotton mill, SpinLab not only offers office space in a highly creative and innovative environment but also support in the form of individual coaching sessions over the course of three months. Moreover, the independent accelerator has a broad network extending into the industry and potential investors. Besides Porsche, other partners of SpinLab are Deutsche Postbank, the Saxon State Ministry of Social Affairs, CMS Hasche Sigle, Dell, Deutsche Bank, Doberman Ventures, DZ Bank, ergo Versicherungen, Grazia Equity, Heinz Dürr Invest, High-Tech Gründerfonds, KPMG, Madsack Mediengruppe, Mittelständische Beteiligungsgesellschaft Sachsen, Quarton International, Stadt Leipzig, taskforce - Management on Demand and Technologiegründerfonds Sachsen. There is a close link with the Porsche plant in Leipzig due to its proximity.

Applications for the first Porsche Innovation Contest should be submitted online at https://www.f6s.com/1stporscheinnovationcontest.