The Federal Ministry for Economic Affairs and Energy launched the new German Accelerator Life Sciences (GALS) in Boston today. It is intended to support German start-ups and young companies in the life sciences sector with a focus on digital health, diagnostics, research reagents, medical technology, platform technologies and therapeutics. In future, the firms will be able to spend several months in the largest U.S. life sciences cluster developing and testing their business concept, products and services on the U.S. market. Also, the new GALS offers the companies valuable contacts to potential clients, personnel, strategic partners and investors. The Economic Affairs Ministry has thus expanded the existing service offered by the German Accelerator for young German technology firms in Silicon Valley, San Francisco and New York.
Minister Gabriel said: "30 years ago, Germany led the world in the field of life sciences, but has been overtaken by other countries in the last few years. It is time to do some catching up. We want to help innovative young companies in the field of life sciences, because they face particular challenges. Our new German Accelerator Life Sciences offers them tailored support in the international race to innovate. Companies that manage to succeed in the U.S., to gain access to the American market, and to establish business partnerships with U.S. firms are well on their way toward becoming key players in international competition."
The GALS is based at the heart of the Boston/Cambridge life sciences region, in the Cambridge Innovation Center at Kendall Square, and is headed by Christoph Lengauer (Chief Scientific Officer of Blueprint Medicines). Interested start-ups, firms and partners from commerce and science can now learn more about the conditions for participation and partnership in the German Accelerator Life Sciences programme on the accelerator's website: .
The German Accelerator is one of the Economic Affairs Ministry's programmes to help start-ups. Further information about help for new businesses and venture capital, including the recent document adopted by the Federal Government outlining the principles of its venture capital policy, can be found .