New funding schemes for start-ups and SMEs in Hamburg

25 April 2024

EUR 69 million in venture and equity capital available

A total of EUR 69 million in venture and investment capital is available from the "Regio Inno Growth" through the IFB Innovationsstarter GmbH’s "Inno Venture Fund" and the "Hamburg Inno Growth" launched by the Mittelständische Beteiligungsgesellschaft Hamburg (mbH). The schemes target growth-oriented SMEs in Hamburg.

New impetus for Hamburg's economy

"We are providing venture capital for the growth phase to leverage the innovation potential of Hamburg-based companies in the currently challenging overall economic situation,” said Dr Andreas Dressel, Senator for Finance. Start-ups can receive up to EUR 7 million from the "Inno Venture Fund", if private investors play a significant role in the respective financing round. Under the "Hamburg Inno Growth" scheme, silent partnerships of up to EUR 2.5 million are possible for Hamburg-based SMEs with a group turnover of up to EUR 75 million and with innovative business models.

Funds also open to social entrepreneurs

Social entrepreneurs can also apply for grants, if they meet the requirements. "This is money well spent on Hamburg and the companies in our city," said Dr Melanie Leonhard, Senator for Economics. Giving social players access to funding contributes to the social entrepreneurship strategy of creating a strong ecosystem for local social enterprises.

Focus on sustainable finance

The City of Hamburg now has over 100 fintechs, according to the Fintech Monitor. "The latest funding schemes allow us to further strengthen Hamburg as a financial and business centre and to implement a key measure in the ‘Hamburg Finance Masterplan 2021-2025’ at the same time," said Dressel. The master plan, drafted by the Ministry of Finnce, the Chamber of Commerce and Finanzplatz Hamburg e. V., should strengthen Hamburg’s financial services in the long term and position it in European competition.
fw/mm/pb