When it comes to successful business startups, Germany is lagging behind by international standards, particularly when compared to the US and China. According to Peter Altmaier, German Federal Minister for Economic Affairs and Energy, we’re currently facing a situation in Europe where multiple old companies are falling away and, for the first time, new capital-rich companies are not necessarily being established—and are instead being founded in China and the US. Altmaier has launched the Startup Initiative in an effort to change this.
In the context of this initiative, Altmaier paid a visit to UnternehmerTUM. Together with Dr. Helmut Schönenberger, UnternehmerTUM founder and CEO, designated TUM President Prof. Thomas Hofmann as well as representatives from various tech startups, Altmaier discussed how the worlds of politics, science and business could join forces to turn Germany into a hotspot for more scalable startups.
All participants agreed that venture capital is key for business startups and that there’s not yet enough of it in Germany. Altmaier underlined that finding venture capital is a challenging problem faced by many startups.
All participants agreed that venture capital is key for business startups and that there’s not yet enough of it in Germany. Altmaier underlined that finding venture capital is a challenging problem faced by many startups. So how can the government help bring together knowhow and capital? Up until now, 250 million euros have been invested in startups in Munich—yet some 100 billion are actually needed.
Beyond that, every business startup is a matter of courage and the inner drive to develop something new and innovative. This requires the support of experts from various fields who can help startup entrepreneurs overcome technical, bureaucratic and financial obstacles. Safe framework conditions are necessary to promote entrepreneurial spirit and create space for trying out innovative ideas.
UnternehmerTUM has multiple programs to offer in this area including Manage&More, the Digital Product School, the Digital Hub Mobility, the Landing Pad or our workshop MakerSpace. All of them provide an opportunity for startup entrepreneurs to follow their starting idea and change the world. UnternehmerTUM startups including MaioT, Kiutra and Kumovis are turning new technologies into applications, creating future-proof jobs and securing Germany’s position as an innovation hub.