Hamburg has Germany’s highest number of start-ups with 253 per every 10,000 inhabitants since 2014 putting it ahead of Berlin with 238, according to the latest start-up monitor by the Kreditanstalt für Wiederaufbau (KfW) published Wednesday. The number of companies launched plays a key role in Hamburg’s economic development.
Good climate for founders
Those launching start-ups are creative, innovative and courageous and develop new business models. “New companies present innovations, create jobs and are drivers of our economy as well as structural change. Hamburg has good framework conditions for founders and attracts talented people from all over the world not least because of the high standard of living. And Hamburg has become a popular location especially among digital start-ups,” said Frank Horch, Senator for Economics.
Driver of new developments
The port, trade and production shape Hamburg’s economy. Digitalisation is a top priority for most companies. Start-ups are akin to seismographs and drive new developments that are crucial to competiveness. Companies can find capital, funding programmes, staff and partners in Hamburg in addition to a good network of economic figures linked to innovative colleges and universities.
Innovation parks as incubators
Digitalisation impacts established companies, craftsmen, mid-sized production and all kinds of service providers. Hardly any company is immune to digitalisation prompting industrial associations colleges and universities, Chambers of Commerce and Trade as well as the Hamburgische Investitions- und Förderbank to push these issues with the Minsitry for Economics, Transport and Innovation. Now innovation parks are emerging to ease the transfer of scientific results to new products and services.