Starting signal for Startup Factory Hamburg

12 June 2024
Hamburg advances to the next round of the nationwide "Startup Factory" lighthouse competition

The University of Hamburg, in cooperation with the Hamburg University of Technology and the Deutsches Elektronen-Synchrotron (DESY), has successfully qualified for the final selection of the "Startup Factory Lighthouse Competition" organised by the Federal Ministry of Economics and Climate (BMWK). The BMWK is funding this development of structures with up to 10 million euros over 5 years with a private investment of at least the same amount.

Focus on new materials, data science and AI

"The Startup Factory is an excellent addition to DESY's innovation ecosystem," says Arik Willner, Chief Technology Officer DESY . " It closes a crucial gap in the support of high-tech and deep-tech startups in the first few years after their foundation. The focus on new materials, data science and AI perfectly matches our expertise in supporting start-ups."

Among other things, Startup Factory Hamburg wants to significantly increase the number of science-based startups founded in the metropolitan region and establish a successful hub in Europe for startups and scaeups in selected key areas such as new materials, AI and data science. The aim is for the metropolitan region to become one of the top 10 successful European start-up ecosystems.

Strengthening Hamburg as a location for innovation and entrepreneurial commitment

Hamburg's goal is to make the city an attractive location for innovation and entrepreneurial commitment. To this end, scientific institutions and business want to work together even more intensively in the coming phase. One initial result is the strong commitment of the Michael Otto Foundation and the Joachim Herz Foundation, which also want to contribute financially to the Startup Factory to be established in the Hamburg metropolitan region.

"Startups challenge large companies and existing markets and contribute to the development of innovations. They can therefore play an important role in the development of competitiveness," says Hamburg's Senator for Economics and Innovation, Melanie Leonhard.

Sources and further information

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