03.09.2015 | News & Interviews

Up into the space!

How can digital technology offer a solution to enhancing the consumer electronics retail experience? Which ideas have the potential to be a breakthrough innovation in this space? And how can brilliant ideas be turned into reality – sky-rocketing to success?

Europe’s biggest consumer electronics retailer, Media-Saturn, initiated the tech accelerator SPACELAB, enabling innovators to take their businesses to the next level. Launched in August 2015, it provides coaching and mentoring for founders of start-ups with minimum viable products through professional service firms like EY. The 20-week program provides founders with active guidance on the matters of planning, strategy, finance, marketing, sales and infrastructure.

EY is proud to support SPACELAB with professional advice on financial strategy and business planning. “Bricks-and-mortar retail is being revolutionized at an increasingly rapid pace. And there are so many young people with ideas that show enormous disruptive potential,” says Florian Huber, SPACELAB mentor and Head of Strategy GSA at EY. “Most of them are programmers, too often lacking the business and management skills to develop and scale up their businesses. This is where we come into play! We provide answers on questions concerning business plans, legal structures, accounting systems, taxes, founding or regulations.”

The accelerator is like a business school, but acting under real-life conditions and using, among others, EY’s professional knowledge and insights. Media-Saturn invests in start-ups with minimum viable products along the whole value chain – from logistic apps through to innovative gadgets. “Media-Saturn is worldwide one of the strongest-possible partners for start-ups to kick start their business,” says Martin Sinner, founder of idealo and leader of the SPACELAB. The first batch will start mid-November and application deadline is mid-October 2015.

EY is a global leader in assurance and advisory services. For decades, we’ve been supporting start-ups and entrepreneurs around the world, many of which made it to the very top.

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