The Ministry’s EXIST and the German Accelerator programmes support innovative start-ups. Now, for the first time, an assisted company has become a “unicorn”, valued at $1 billion.
Celonis was founded in 2011 as a spin-off from the Technical University of Munich. In its pre-start-up phase the Federal Ministry for Economic Affairs and Energy awarded the company an EXIST start-up grant of over €83,000. Today, the team of three has become a leading provider in the field of process mining with over 400 employees and a worldwide customer base. In a recent funding round in the US, financial experts valued the start-up at $1 billion. It is therefore the first “unicorn start-up” that was created thanks to funding from the Federal Ministry for Economic Affairs and Energy.
Celonis was founded with an EXIST start-up grant, it used the German Accelerator programme in the Silicon Valley to create a network of customers, partners and venture capitalists and is now an established player in the industry.