Germany commits €12 billion to boost startups by 2030

18 Sep, 2024

Germany commits €12 billion to boost startups by 2030

Germany is set to invest around €12 billion ($13.35 billion) to enhance its venture capital landscape, aiming to strengthen startups. This investment was announced during the Startup Germany Summit, where a declaration was signed by the government, business associations, KfW state bank, and key figures from the startup ecosystem. The initiative outlines measures to improve business conditions, promoting innovation across the country.

Chancellor Olaf Scholz emphasized the goal of mobilizing private investments in venture capital, startups, and technology. This investment will significantly boost the German venture capital market, creating a more favorable environment for startups to thrive. It also aims to improve Germany's position as an economic hub by encouraging private sector involvement.

The funding is expected to provide much-needed support for startups in various sectors, furthering technological innovation and growth. Through these efforts, Germany hopes to attract both domestic and international investors, fostering a competitive startup ecosystem that can lead to long-term economic prosperity. The €12 billion commitment underscores the importance of venture capital in driving economic development and innovation across the nation.