Application for EXIST funding accepted
Our application for funding through the first phase of an “EXIST Transfer of Research” program by the German Federal Ministry for Economic Affairs and Energy and European Social Funds has been accepted! We have been granted with over 645,000 euros as support to develop a prototype and business plan for Semanux from September 2021 to February 2023.
The application required a two-step application procedure, for which we submitted a 47-page long description about Semanux in January 2021 and a 10-minutes pitch video about Semanux in May 2021. Our application has been reviewed by six high-profile experts in the field of intelligent technologies and innovative business models. After developing the prototype and business plan, we can apply for the second phase of the EXIST Transfer of Research program in 2023, which would financially support the inception of Semanux as a company.
We want to highlight the magnificient support at the University of Stuttgart. Prof. Dr. Steffen Staab supports us as a scientific mentor. He is the head of Analytic Computing and one of the world’s leading experts in the research field of the Semantic Web. Prof. Dr. Alexander Brem is the head of the Institute of Entrepreneurship and Innovation Science at the University of Stuttgart and supports us as a mentor in entrepreneurship. In addition, we receive large support from startup coaches from the Institute of Entrepreneurship and Innovation Science at the University of Stuttgart, its startup network, and the Cyber Valley consortium.