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Targeted support for 5G start-ups: US accelerator Quake Capital launched in North Rhine-Westphalia

The venture capital provider Quake Capital from Los Angeles is expanding its program to include the European market and is currently establishing its subsidiary Quake Europe in Cologne. This is the company's first branch outside the United States. Quake Europe specializes in the promotion of early-stage start-ups and, together with hub:raum of Deutsche Telekom in Bonn, is establishing an international accelerator that focuses on investing in young 5G tech companies.

Prof. Dr. Andreas Pinkwart, NRW Minister of Economic and Digital Affairs: "In North Rhine-Westphalia we want to promote innovative, young companies with great development potential. Venture capital providers are important partners in this respect. The settlement of Quake Europe is an excellent stimulus for our start-up and innovation location, which also ideally complements our 5G activities in North Rhine-Westphalia. The accelerator builds a bridge between Los Angeles and North Rhine-Westphalia that can serve as a model for progressive economic relations in technological innovation."

Quake Europe's offering is aimed at founders from the consumer entertainment sector, such as gaming, e-sports, music and video streaming or augmented reality, who want to make 5G technology usable with innovative ideas. Within the framework of the accelerator, the supported start-ups with access to Deutsche Telekom's 5G infrastructure can test and further develop their business ideas. Together with other financing partners such as RTL Group, the international business law firm DWF and the e-sports organization SK Gaming, Quake Europe has already established a strategic network to combine the new technologies of the start-ups with local structures.

Quake Europe's location decision was particularly influenced by the high competence and company density present in North Rhine-Westphalia in telecommunications and 5G. The size of the market in North Rhine-Westphalia as well as the location's function as a hub between the USA on the one hand and Europe and Israel on the other hand offer the supported start-ups a wide range of business prospects.

Priscilla Pesci, co-founder and Global Managing Partner Europe at Quake Europe: "20 of the 50 highest-grossing German companies have their headquarters in North Rhine-Westphalia – accordingly, there is great potential here to hook up technological innovations with a dynamic economic environment. With its strong partner network, Quake Europe is in a unique position to drive the development of 5G applications for media and entertainment and to link the opportunities in North Rhine-Westphalia to our program in Los Angeles and worldwide."

With the support of NRW.INVEST, the economic development agency of the state of North Rhine-Westphalia, Quake Europe found quick access to relevant players of the North Rhine-Westphalian media and digital sector during the settlement process. "The branch office of Quake Europe with its accelerator will further boost the technology and start-up scene in North Rhine-Westphalia. With our office in California, we were able to provide the company with optimal support in establishing itself as well as to inspire enthusiasm for our location. At the beginning of January, for example, we promoted North Rhine-Westphalia together with Quake Europe at a 5G event of the German American Business Association in Los Angeles," says Petra Wassner, CEO of NRW.INVEST.