MUNICH Bavaria's Secretary of State for the Economy, Katja Hessel, will today open WERK 1 – the first Bavarian business incubator for the digital, internet-based economy. The facility is located on the Kultfabrik premises at Munich's eastern train station. By night, the area is a clubbing hotspot, but hard work takes place here during the day: IT start-ups, games developers and internet programmers share office workspace on a total of 2,050 square meters in WERK 1, shaping their business models and digital developments here. "I am happy that a central point of contact has been established with WERK 1, supporting creative start-ups on the internet scene by providing both space and content, and allowing them to come together in a close-knit network," explains Ms. Hessel. "WERK 1 will lead to a further increase in the number of company foundations in the IT sector and contribute to Bavaria remaining top among the federal states, with the most active IT start-up scene."
What makes WERK 1 so special are its central inner-city location, extremely flexible rental agreements in terms of duration and space, founder coaching and its already unique variety of tenants from IT, Internet, media and games development. WERK 1 is the first business incubator of its kind in Bavaria and part of the Digital Bavaria digitalisation strategy of the Bavarian Economics Ministry. The strategy aims to make the state a leading European digital business location by 2020, with extensive measures and projects throughout Bavaria. The business incubator will be supported with around EUR 500,000 of funding from the Bavarian Economics Ministry until 2017.