Dr. Peter Tschentscher, Mayor of Hamburg presented a symbolic funding decision to the CellmatiQ start-up after the company become the 100th to be funded by the Hamburgische Investitions- und Förderbank (IFB Hamburg). CellmatiQ has developed a software platform for the automatic, diagnostic analysis of medical image data using artificial intelligence. The technology will be used in orthodontics initially. The automated evaluation of X-ray images helps doctors diagnose jaw and tooth malpositions.
Start-ups crucial to Hamburg
Speaking at the ceremony, Tschentscher noted: “Hamburg offers excellent conditions for founders. Around 700 start-ups with 6,000 employees are based here. Talents from all over the world come to Hamburg to develop innovative business models from their ideas. Start-ups are hugely important to Hamburg’s economic development. They develop innovative products and services, thereby supporting technological progress, opening up new markets and strengthening the competitiveness of commerce in Hamburg.”
Targeted and diverse support programmes
The senate’s innovation policy has created a vital environment for founders and fledgling companies in the city. Both good business ideas and secure financing are crucial to success. Financial support for Hamburg’s start-ups was merged and has been expanded since the Hamburgische Investitions- und Förderbank was founded in 2013. Targeted programmes help founders with successful business start-ups – from developing a business model through to the start-up and growth phase.
The “InnoRampUp” programme provides grants of up to EUR 150,000 for technology-orientated start-ups while the “Innovationstarter Fund” provides young companies with urgently needed equity of up to EUR 1 million. Launched on July 1, 2018, the new “InnoFounder” programme provides grants of EUR 2,500 per person, per month in the early phase of setting up a company and targets innovative, digital start-ups.