Startups have the chance win 25,000 euros in prize money and the opportunity to participate in “SpinLab – The HHL Accelerator

News comes from Stuttgart, Germany that founders focusing on blockchain technology can now apply for the premiere Porsche Innovation Contest. In addition to collaborating with the Stuttgart based sports car manufacturer, startups have the chance win 25,000 euros in prize money as well as the opportunity to participate in the “SpinLab – The HHL Accelerator” program for three months. Applications are being accepted until May 15, 2017 via the F6S platform.



Porsche aims to obtain external input on the disruptive potential of the blockchain transaction system by collaborating with the startup scene. The central question is to what extent the application of this technology in the value creation chain of the company makes sense.



Moreover, other forms of potential longterm collaboration will be investigated. Blockchain is a type of digital ledger for contractual transactions between computers. The technology was originally developed for the financial world. The decentralized and extremely transparent booking system has the potential of being extended to the trading of shares, cars, houses, i.e. any type of contractual transfer.



Accompanying support by “SpinLab – The HHL Accelerator” is a useful extension to the field work between the sports car manufacturer and the startup which will eventually be selected. Located on the premises of an abandoned Leipzig cotton mill, SpinLab not only offers office space in a highly creative and innovative environment but also support in the form of individual coaching sessions over the course of three months. Moreover, there is a close link with the Porsche plant in Leipzig due to its proximity.



In February, Daimler AG, the parent company of luxury car maker Mercedes-Benz, announced joining the Linux Foundation led Hyperledger project. Daimler AG CIO Jan Brecht said about their venture into the emerging technology, “We see blockchain as a promising technology, not fully mature yet, but continuously growing. Now is the right time to get into it, build up knowledge and form a network of like minded people to share experiences. By joining Hyperledger, we are confident that we are taking the right step in this direction.”