7/15/2009

ZEW Study confirms Bavaria’s frontline position for high-tech start-ups

MUNICH    According to a study currently being conducted by the Center for European Economic Research (Zentrum für europäische Wirtschaftsforschung = ZEW) in Mannheim in collaboration with Microsoft, Bavaria ranks in the top league for high-tech start-ups. Bavaria’s Minister of Economic Affairs, Martin Zeil, was delighted at this result: “The current ZEW Study once again shows that Bavaria is the leading location for new high-tech business in Germany. As we can see, Bavarian policy for high-tech start-ups is paying off.”

Bavaria comes first not only in its start-up intensity in technology-based services and the software sector. The ZEW Study reveals that in the last few years Bavaria has moved up from third to first place in research-oriented industries as well. While other German states have seen a fall in the number of high-tech start-ups, they have remained more or less constant in Bavaria. Zeil commented: “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 exceptionally fast rate and also creating an exceptionally large number of jobs.”

The Bavarian Ministry of Economic Affairs supports high-tech start-ups with, for example, its business plan competitions in Northern and Southern Bavaria aimed at corporate planning and financing as well as by means of targeted funding programs, incubators and investment capital through Bayern Kapital GmbH. “Thanks to its future-oriented technology policy, Bavaria has an excellent research infrastructure and many successful, innovative companies. Under our BayernFIT program, we provide 1.5 billion euros for innovation and education”, Zeil said.

Source: Invest in Bavaria

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