ERGO presents scale-up programme

ERGO ScaleHub will support scale-up companies in future during their growth phase. The City of Düsseldorf and the community space TechHub.K67 are partners in the initiative.

Christian Zaum, Head of Economic Affairs of the State Capital Düsseldorf, and Mark Klein, Chief Digital Officer of the ERGO Group

To mark the start of this year’s Düsseldorf Startup Week, ERGO today presented its scale-up programme, ERGO ScaleHub. Scale-ups are companies that have already completed their start-up phase. In the following stage, they look for rapid and scalable growth and are eager to offer their products or services to a wider market. ERGOʼs Innovation & Digital Transformation Unit, together with the Düsseldorf Office of Economic Development and the community space TechHub.K67, want to provide systematic support in future to scale-ups in Düsseldorf operating in the healthcare, finance and insurance sectors.

From networking to international market entry

The programme partnersʼ intention is to help these companies to successfully continue growing by providing them with a range of services. Participating scale-ups will be given access to ERGO’s internal networks of mentors and experts, allowing them to exchange ideas and information on specialist insurance subjects, business models and financing matters. ERGO also wants to use the Accelerator to help them establish contact with national and international venture capital and corporate venture capital investors. In addition, the scale-ups will have access to the insurer’s international business and start-up network. What is more, as part of project-based proof of concept (POC) activities at ERGO, they will be able to test their solutions for customer satisfaction, profitability and functionality. Following a successful test phase, ERGO ScaleHub plans to facilitate the companiesʼ networking with national and international ERGO business units and partners from its venture client network. This will allow them to offer their solutions in international markets as well.

The city of Düsseldorf will provide the scale-ups with additional support if they wish to establish themselves there. This assistance will take the form of mediating advisers for visa applications, helping with applications for subsidies, and arranging contacts to advise on legal and tax matters. Help with participation in trade fairs and the search for real estate will also be offered.

Office space will be provided for participating scale-ups in the Düsseldorf community space TechHub.K67. They will be able to use the premises for a previously agreed term during the project and product ramp-up phase. In this environment, the companies will encounter a wide regional network of other start-ups and scale-ups that includes small and medium-sized enterprises (SMEs) as well as large corporations. They will also benefit from regular events and workshops that provide opportunities to introduce themselves to a wider pool of investors and clients.

Creating a dynamic scale-up scene in Düsseldorf – driven by years of experience and systematic promotion of innovation

ERGO has many years of experience working with start-ups and scale-ups. Back in 2016, the insurer established a dedicated business unit for Innovation Strategy & Scouting. It continuously monitors the German and international markets for the latest digital solutions, allowing it to utilise those it rates positively for the benefit of the Group. This helps ERGO consistently deliver simple, innovative and customer-focused solutions. New technologies can help ease employeesʼ workloads by performing routine activities and providing relief when work volumes are at their highest. Adopting new solutions also leads to greater efficiency, higher effectiveness and improved growth opportunities for ERGO. The Company has already successfully collaborated with over 80 national and international start-ups and scale-ups. ERGO ScaleHub is intended to focus this commitment and take it to the next level. Apart from faster access to new technologies and innovations, ERGO hopes it will also reduce time to market, in other words the length of time from a new development until a product is available on the market. Both will help reinforce the digital transformation of the Company.

Thanks to the Accelerator, Düsseldorf is also likely to become more attractive as a business location for scale-ups. The city offers ideal conditions for young companies, and not just because of its infrastructure, economic strength and high quality of life. The surrounding Rhine-Ruhr region is also home to a host of research institutes and universities that can supply highly qualified specialists. Düsseldorf is also home to a large number of major corporations and SMEs – which are potential partners and investors for scale-ups.

For ERGO and the City of Düsseldorf, the programme represents yet another collaboration in a successful partnership that goes back many years. Since 2019, ERGO has been assisting the state capital on a project basis with a range of digital initiatives such as the Kunstpalast art museum and the Central Library. ERGO is also a gallery sponsor for the main foyer of the museum building. In 2020, ERGO also advised the Düsseldorf City Council on ways to optimise its coronavirus hotline so as to reduce the peak workloads of its employees.

About ERGO ScaleHub

Both national and international scale-ups are able to participate in ERGO ScaleHub. They are selected by the partners on the basis of such criteria as product maturity, business model and growth potential. Participation is free for the scale-ups.

Interested scale-ups can find general information on services and the programme on the ERGO ScaleHub homepage at scalehub.ergo.com. The programme content will be gradually expanded over the coming weeks and months.

CamCom has already been chosen as the first scale-up to participate in the programme. Based in Bangalore, India, the company offers an award-winning AI solution for visual inspection and vehicle damage assessment on virtually every kind of surface. Users can therefore calculate premiums immediately and settle claims with insurers promptly. The solution is already being used by some of the leading insurance companies in India, the Middle East and Southeast Asia. HDFC ERGO has also been cooperating with the company for more than five years.

ERGO intends to be a digital leader in the insurance industry by 2025 – both in Germany and in its core international markets. To this end, the Company is already working intensively on developing and implementing various new technologies, such as artificial intelligence, voice technology, robotics and process mining. ERGO is also playing a leading role in the metaverse. Its cooperation with start-ups and scale-ups is thus an important stepping stone towards achieving its leadership aspiration. 

Text: Sabine Saeidy-Nory

Media Information