6/23/2008

Bavaria in the top league for start-ups in the high-tech sector

Müller: "Together with Munich, Nuremberg is now also one of Germany’s prime locations in the high-tech sector"

MUNICH Further confirmation of Bavaria’s appeal as a high-tech location: According to a study currently being conducted by the Center for European Economic Research (Zentrum für europäische Wirtschaftsforschung = ZEW) in Mannheim, the Munich region undisputedly ranks in the top league for high-tech start-ups, especially in the sectors of industry and services as well as information and communications technologies. As the top shooting star, Nuremberg Metropolitan Region landed in second place even ahead of Hamburg largely due to its consistent upward trend. "The new study once again shows that Bavaria is the Number One high-tech state, start-up state and opportunities state in Germany. The State of Bavaria is one of the leading locations worldwide for innovations and technology", underlined the Bavarian Minister of Economic Affairs, Emilia Müller.

She was especially delighted at Nuremberg’s rise to one of the top locations for high-tech start-ups in Germany. Müller: "The scientific infrastructure and economic environment of the region have developed very positively for young high-tech firms in Nuremberg. Thanks to the commitment of private sponsors and intensive support from the Bavarian Ministry of Economic Affairs, the Network of North Bavaria (Netzwerk Nordbayern) has become an outstanding motor for the establishment of young technology companies in the region. This is exemplary for all Germany."

The good trend in high-tech start-ups - particularly in North Bavaria - was making it clear that the economic policy measures were taking effect in this sector and generating new companies and jobs in the region. Müller: "We must not slacken our efforts to promote start-ups in the high-tech sector. Our work in this field is producing companies that are expanding at an above-average rate and also creating an exceptionally large number of jobs." Our successful policy in Bavaria should be backed up by the taxation policy of the Federal German Government. Bavaria was, for instance, pressing the Federal Government to create better framework conditions for investors, venture capital and technology companies, the Economics Minister added.

Source: Invest in Bavaria