Berlin, Germany – In a significant move to foster innovation and entrepreneurship, the German government has announced a substantial investment of €12 billion ($13.35 billion) to strengthen the country’s venture capital environment for startups.
The announcement was made at the Startup Germany Summit on Tuesday, where a declaration outlining the investment was signed by key stakeholders including the government, business associations, the KfW state bank, and representatives from the startup ecosystem.
The declaration outlines a series of measures aimed at improving Germany’s business conditions and creating a more conducive environment for innovation.
German Chancellor Olaf Scholz emphasized the importance of this investment, stating, “With this, private investments in venture capital, startups, and innovation technologies are to be mobilized. This strengthens the German venture capital market and economic location as a whole.”
The €12 billion pledge is expected to provide a significant boost to Germany’s startup ecosystem, which has been steadily growing in recent years. By improving access to funding and fostering a more supportive business environment, the government aims to attract and retain top talent and drive innovation across various sectors.
This investment aligns with Germany’s broader efforts to position itself as a global leader in technology and innovation. By nurturing a thriving startup ecosystem, the country can foster economic growth, create jobs, and enhance its competitiveness on the international stage.
