Digital health start-ups see Germany as the place to launch
Germany is fast becoming the digital start-up capital of Europe. An article in the latest issue of the magazine Markets Germany surveys the country's start-up hotspots for digital entrepreneurs: Berlin, Munich and Hamburg. It reports that these cities are drawing entrepreneurs and investors from all over the globe because they offer ecosystems conducive to start and grow businesses centered around digitization.
Germany has committed itself to becoming a global leader in promoting progress in digital technology when it assumed the presidency of the G20 in December 2016. Shortly before that, the country's Federal Ministry for Economic Affairs and Energy (BMWi) started the Digital Hub Initiative (de:hub) initiative, which supports the establishment of digital hubs in Germany.
In addition to incentive schemes, notes the Markets article, Germany is also attractive because of its access to the European single market, a pool of well-educated labor, low rents, and a thriving technology "ecosystem." Digital health and medical biotechnology start-ups are no exception to this trend. Berlin in particular offers an ideal climate for launching digital health enterprises and attracts innovators from abroad.
The German capital is already home to a number of accelerators for digital health start-ups. One of these, the Digital Health Accelerator launched in 2016 by Startupbootcamp, became the first of its kind in Europe. Others are the German Accelerator Life Sciences (GALS) and Flying Health.
Major German and international healthcare companies are involved in the work of these accelerators, including arvato CRM Solutions, Sanofi and Merck. Other companies, such as Bayer, have set up their own incubators with Bayer's CoLaborator in Berlin.
Markets Germany is published by Germany Trade & Invest and reports on Germany as a location for business.