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More funding for sustainable business ideas in Hamburg

City boosts start-ups focusing on sustainability via InnoFounder and InnoRampUp grants

Impact-orientated companies, for instance, Viva Con Aqua and Lemonaid, that strive to achieve Sustainable Development Goals (SDGs) outlined by the United Nations, through their business ideas and sustainable products, are gaining importance. Four start-ups dedicated to sustainability namely Greenloop, Lignopure, Wildplastic and Tutaka received up to EUR 150,000 via the InnoRampUp and InnoFounders grants in 2019. The city of Hamburg has been supporting innovative start-ups via the programmes run by the Hamburgische Investitions- und Förderbank 2013 and 2018 respectively.

Funding to cater more to impact start-ups

The Ministry of Economics, Transport and Innovation has decided to gear its programmes more towards impact start-ups from 2020. Michael Westhagemann, Senator for Economics, said: “This means we are expanding our support for impact start-ups and companies to enable even more sustainable innovations ‘Made in Hamburg’ in future.” The funding guidelines have been adapted to facilitate grants to start-ups in both programmes.

Support impact star-tups in early stages

The InnoFounder programme is particularly well suited towards innovative and impact-orientated start-ups. The personal, monthly support of up EUR 75,000, allows teams of impact start-ups to develop their business idea and approaching, before actually founding a company, for up to 18 months and to take the first steps in the respective market. To do so, the companies must be less than one year old or still in the start-up phase.

Promoting technologically innovative companies

InnoRampUp targets mainly technologically, innovative start-ups from Hamburg that are no more than two years old with grants of up to EUR 150,000. Emphasis is on SDGs as outlined by the United Nations. More than 100 companies have received funding since it launched in 2013.

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