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Investment in Berlin startups jumped by €1 billion this year, study shows

Venture capital investments in German startups hit a record level in the first half of 2017, with Berlin seeing a huge rise in funding for its startup scene, a new report shows.

Published: 12 July 2017 14:37 CEST
Investment in Berlin startups jumped by €1 billion this year, study shows
Berlin at night. Photo: DPA

Funding rounds for startups in Germany and the overall value of funding hit record levels in the first six months of this year, a report released this month by professional services firm EY reveals.

The total number of investments in German startups rose by 6 percent in comparison with the same period in 2016, to 264.

But the really explosive growth was seen in the overall size of investment. In the first half of this year, €2.163 billion of investors' money went into startups, an increase of roughly €1.2 billion in comparison with the first half of 2016.

That growth was mainly driven by the e-commerce sector. At €939 million, over 40 percent of overall funding went into e-commerce. But health, FinTech and software startups all saw significant investment growth.

The report also confirmed that Berlin is the unrivalled startup capital of Germany. Forty-four percent of all investment deals happened in the capital – the size of Bavaria, Hamburg, North Rhine-Westphalia, Baden-Württemberg and Hesse combined.

And while the number of investment rounds in Berlin stayed stable, the size of the investments increased massively. Whereas in the first half of 2016 Berlin startups raised €531 million in investment funds, so far this year they have pulled in €1.48 billion – a 178 percent increase.

Two deals in particular contributed to the eye-watering growth in Berlin. Food delivery firm Delivery Hero, which made its stock market debut in June, took in a €387 million investment round. Meanwhile Auto1, an online used car marketplace, banked a €360 million investment earlier this year.

There was good news outside the capital too, though.

Hamburg was actually the city that saw the largest growth in investment relative to the first half of 2016. While in the first half of last year startups in the harbour city raised €53 million, this year they pulled in €178 million – a 236 percent increase in funding.

This was just the latest good news for Germany's second-largest city. A study published in June by German government-owned bank KfW showed Hamburg beat out Berlin for the first time in terms of the number of people who started a business per capita. Between 2014 and 2016, Hamburg had 253 new founders annually per 10,000 working people. In Berlin, this figure was 238 business starters.

SEE ALSO: The Hamburg 'coliving' and 'coworking' space you never have to leave

FIND A JOB: Browse thousands of English-language vacancies in Germany

 

 

 

LIVING IN FRANCE

France to roll out ID cards app

Technology is being rolled out to allow people to carry their French ID cards in an app form - and could be rolled out to other cards, including driving licences and cartes de séjour residency cards.

Published: 4 May 2022 11:24 CEST
France to roll out ID cards app

Holders of French carte d’identité (ID cards) will soon be able to carry certified digital versions of them on their smartphone or other electronic devices, a decree published in the Journal Officiel has confirmed.

An official app is being developed for holders of the newer credit card-format ID cards that have information stored on a chip. A provisional test version of the app is expected at the end of May.

Users will be able to use the ID card app, when it becomes available, for a range of services “from checking in at the airport to renting a car”, according to Thierry Breton, EU Commissioner for the Internal Market.

All French citizens have an ID card, which can be used for proving identity in a range of circumstances and for travel within the EU and Schengen zone – the new app will be in addition to the plastic card that holders already have.

Under the plans, after downloading the app, card holders will need merely to hold the card close to their phone to transfer the required information. According to officials, the holder then can decide what information is passed on – such as proof of age, or home address – according to the situation.

The government has not given any examples of situations in which the app would need to be used, but has set out the main principles and the ambition of the plan: to allow everyone to identify themselves and connect to certain public and private organisations, in particular those linked to the France Connect portal.

READ ALSO What is France Connect and how could it make your life simpler?

Cards will continue to be issued for the foreseeable future – this is merely an extension of the existing system.

Only French citizens have ID cards, but if successful the app is expected to be rolled out to include other cards, such as driving licences, cartes de séjour residency cards or even visas. A digital wallet is being developed at the European level – Member States have until September to agree what it could contain.

READ ALSO Eight smartphone apps that make life in France a bit easier

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