sektor5 closes its doors November 2017

Why pull the plug?

There is no real funding available for ideation stage start-ups, which made 5starts — with its non-conventional selection procedure (no pitch deck, no motivation letter) and non-rigid program — a difficult sell. That and projects with bigger promotion budgets made the 5starts team decide to rather pull the plug, regroup and support individual start-ups.

What changes for sektor5 co-working members?

Until mid-November, very little. sektor5 stays sektor5 just without formally accelerating start-ups through the 5starts brand. Starting mid-November sektor5 members will move into co-learning and co-working hub Markhof in the 3rd district. sektor5 is convinced its members will find their new open and free development space there. Rochuspark will also take over some of the services sektor5 offers its members.

What’s next?

Despite 5starts not reaching its fundraising goal, 5starts alumni companies continue to book successes. You’ll be able to follow their progress right here on Medium.

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sektor5 hosted entrepreneurs in Vienna for 7 great years and now focuses on investment management of its alumni companies from the 5starts accelerator.

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sektor5 co-working spaces

sektor5 co-working spaces

sektor5 hosted entrepreneurs in Vienna for 7 great years and now focuses on investment management of its alumni companies from the 5starts accelerator.