The federal government wants to promote start-up funding at European level.
(Photo: Reuters)
Berlin The federal government passed its new start-up strategy on Wednesday. It includes numerous already known goals of the traffic light coalition of SPD, Greens and FDP. The measures are to be implemented in the current election period.
However, the start-up association criticizes the strategy as too vague compared to the draft. Important points such as the shortage of skilled workers and employee equity participation are not sufficiently specified.
“The partially recognizable discrepancy between the draft presented by the Federal Ministry of Economics and the final strategy reveals resistance from individual departments when it comes to decisively promoting future-oriented politics,” says the association.
In the international location competition for the smartest founders and most innovative start-ups, Germany has been lagging behind for years, according to the industry. Federal Minister of Economics Robert Habeck (Greens) therefore presented a draft for German start-up funding in June.
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Compared to the draft strategy, the paper that has now been approved excludes some controversial points. This includes, for example, the question of the extent to which annuity insurers and pension funds also have to invest in venture capital. There had been legal concerns about this in advance.
This point should now be clarified outside of the strategy, explained start-up officer Anna Christmann (Greens) on Wednesday in Berlin. In Germany, around 15 billion euros in venture capital was invested in newly founded companies in 2021. At the beginning of 2022 there were 25 “unicorns” in this country – start-ups with a market valuation of at least one billion dollars.
No financial increase
In addition, the federal government does not initially want to increase the billions in funding for start-ups. “Of course we are building on the future fund,” said Christmann. This fund, which was initiated by the grand coalition, has a volume of ten billion euros by 2030. The sums have not yet been spent. “In this respect, there is currently no need to talk about further funds.”
The funds must first be used in a targeted manner. Together with private investors, 30 billion euros in venture capital for young and fast-growing companies are to be mobilized during this period.
A new focus of the strategy should be the stronger promotion of climate technologies. A special fund – the so-called DeepTech & Climate Fund – is intended to strengthen young tech companies that are characterized by a particularly efficient use of resources. “We want to create good conditions for the development of climate technologies in Germany.”
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In addition, the promotion of start-ups is to be promoted more strongly at European level. Germany, France and more than a dozen other EU countries have recently announced that they want to use public funds to promote technology start-ups.
A total volume of ten billion euros is planned.
(Photo: picture alliance/dpa/dpa-Zentralbild)
Germany and France initially want to make one billion euros each available for this purpose. A total volume of at least ten billion euros is planned. Start-ups are to become less dependent on investors from the USA and Asia.
In particular, the initiative is about young companies that have been on the market for some time, which have usually already gone through several rounds of financing, but now need a further boost in order to advance to new dimensions.
As can also be seen from the start-up strategy of the federal government, more women are to be involved in start-ups in the digital sector in the future. In addition, there should be more company start-ups from the university context and the equity participation of employees in start-ups should be improved.
Association: Federal government must also implement strategy
The head of the start-up association, Christian Miele, initially sees the strategy as a good working basis for the next three years. “But it is also clear that a strategy is only as good as its implementation.” The federal government must consistently advance its projects and must not “hide behind test orders”.
Specifically, the association criticized the vague regulations with which companies should be able to recruit skilled workers more easily. The strategy speaks of “possibly” lowering the hurdles in the recognition of foreign educational and professional qualifications.
The association finds the wording too unspecific. When it comes to employee equity participation, only the forthcoming legislative process would show how serious the government really is about reform.
>> Read here: Top US universities and their founding turbo – why so many successful companies are emerging there
The FDP parliamentary group leader Christian Dürr praised the Handelsblatt the adopted Strategy. Germany needs more growth impulses and more start-ups. “The start-up strategy of Christian Lindner and Robert Habeck, which was passed in the cabinet today, therefore provides for the fundamental renewal and strengthening of start-up ecosystems,” said Dürr.
In order to further involve the start-ups themselves in shaping the specific legislation, Dürr announced joint expert meetings for the coming weeks.
With agency material
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