As the third largest city in Germany, Munich is known not only nationwide, but also internationally. It is also a popular city for students and start-ups with renowned universities such as the TU Munich or the Munich University of Applied Sciences. The Munich start-up scene will be briefly introduced in this blog post.
In 2015, the Federal Association of German Start-Ups counted around 700 start-ups. This makes Munich one of the founding hotspots in Germany alongside major cities such as Berlin, Frankfurt or Hamburg.
With about 16% of foreign founders, the international value of Munich is reflected. This is the highest value in Germany. Around 10% come from outside the EU and 6% from non-EU countries.
In financing shortage, every fourth start-up doesn’t need monetary help. With 26.2%, Munich has the most start-ups with self-financing.
Team spirit counts in Munich. 81.1% of the Munich start-ups were team founders. This is also economically advantageous, because knowledge can be brought together, deficits can be eliminated and it could also be better for investors.
In the age of digitization, the internet becomes more important every day. 62% praise broadband expansion and the fast internet. Nationwide, the average is only 40% and so nine out of ten Munich start-ups prove a good start-up climate.
Munich start-ups are more optimistic than start-ups from other German cities. Increasing sales are expected at four out of five start-ups and two-thirds even want to hire employees.
Thanks to the good network of universities and scientific institutions in general, 20% of Munich start-ups cooperate with them. In Germany, the average is 16%.
So, if you are planning to start a start-up then Munich might not be a bad place for it.