The Internet of Things (IoT) is one of the biggest drivers of innovation and is developing at a tremendously fast pace. This digital networking of physical products and devices is now taking hold in all industries.
This effect is reinforced by a high density of innovation campuses, accelerators, incubators, company builders, and researchers driving the issue and bringing new business and focus areas to the marketplace. Scientific institutions are also increasingly focusing on IoT.
Further confirmation came when Berlin was named an IoT Hub within the framework of the Digital Hub Initiative of the Federal Ministry of Economics.
About the Digital Hub Initiative (de:hub)
With the Digital Hub Initiative, the Federal Ministry for Economic Affairs and Energy (BMWi) is supporting the creation of digital hubs in Germany. The hub model is based on the idea that collaboration of companies and startups in close proximity promotes innovation, especially in the digital age.
In recent years, some dynamic digital hubs have begun to emerge where startups and creators network, cooperate, and reinforce each other's work. In addition, Germany has many strong companies, especially in industry, and SMEs which can be of interest due their highly specialised expertise. Startups can learn from the experiences of big companies and take advantage of their networks in order to position themselves better. Such collaboration can also help established companies make digital innovation leaps. In particular, the leading German industries including mechanical engineering, automotive, and logistics will be able to shape the digital transformation.
This is where the initiative comes in:
The BMWi wants to highlight Germany's strengths as a leading industrial nation with existing, high-quality expertise, thus making Germany an attractive alternative for future startups, investors, and specialists from all over the world.
The network of twelve hubs across Germany forms the basis. Each of these sites has a sector-specific focus around which many other topics can be grouped. The joint umbrella brand and the Hub Agency operated by RCKT provides support.
The Hub Agency takes care of the nationwide networking of the individual hub locations under a common logo, collects information from the hubs and makes it centrally available, organises events, and offers consultancy services. In order to strengthen the international appeal of the German hubs and to make them attractive to entrepreneurs, investors, and specialists from abroad, the BMWi is developing a powerful international advertising campaign together with the Hub Agency and Germany Trade and Invest (GTAI). To provide technical support to the initiative, an independent expert advisory council will be set up with members from the digital and technology industries. The advisory council makes recommendations for the selection of hub locations and observes and evaluates the individual hubs' activities and growth.
Berlin participates in the BMWi initiative as the hub for the Internet of Things (IoT) & FinTech. The focus covers all of the sectors in Berlin with important applications and their networking to create a Smart City, including:
- communication infrastructure,
- smart wearables,
The IoT Hub is managed by a heterogeneous consortium of companies, start-ups, university institutions, and company builders with the goal of improving and strengthening the offer, accessibility, benefits, and presence of IoT in Berlin. This includes the promotion of innovative projects, the exchange between business and science, as well as the networking of IoT stakeholders.
The scene is also booming in the financial technology sector: company builder FinLeap, which focuses on the financial and insurance technology industry, was selected as the partner for the FinTech hub. The Fintech Hub offers dedicated office space for FinTech, InsurTech, and other financial services companies on more than 11,000 m² spread over 8 floors.