APX is an early-stage accelerator in Berlin, however it’s not rather your average accelerator– it’s essentially a joint venture between giant European publishing house Axel Springer and Porsche, the German automaker. Previously this month, we took a seat with APX managing director Jörg Rheinboldt to discuss what makes APX different and how it
‘s weathering the coronavirus pandemic. Rheinboldt has a fair bit of experience as both an entrepreneur and investor. He co-founded Alando.de, which was obtained by eBay in 1999 and donation platform betterplace.org in 2007. In 2013, he became CEO of Axel Springer Plug and Play and during his time as an investor, he put cash into companies like N26, Blogfoster, careship and zizoo.
“We started APX because Plug and Play wanted to end up being more of a platform for matchmaking in between corporates and start-ups, “Rheinboldt said when I asked him about the project’s origin.”We, the group, taken pleasure in purchasing early-stage companies a lot and Axel Springer likewise enjoyed investing in early-stage startups a lot. We chose to stop investing in new business Axel Springer Plug and Play. We had actually bought 102 business– and focus [ed] on discovering fascinating teams to invest in with a brand-new business that we required to found.”
Image Credits: Dominik Tryba Rheinboldt took this discussion to his boss, Mathias Döpfner, the current CEO of Axel Springer, who motivated him to discover another investor.” If it’s only us, you may have to do what we desire– and perhaps you do not want that,”he stated Döpfner informed him. In looking for a partner, Rheinboldt approached the Porsche family, which he had met at a few of his previous financier occasions. The household was wanting to diversify its portfolio, so after a few more meetings, consisting of a discussion at Porsche’s management top, the two companies decided to enter this business together.
One fascinating thing Rheinboldt noted– and this isn’t so much about the Porsche family as a general observation– is that household workplaces are frequently resistant to entering equity capital, at least in Germany.
Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.