Germany will invest around 12 billion euros ($13.35 billion) to strengthen the venture capital environment for startups, according to a declaration signed on Tuesday at the Startup Germany Summit.
The declaration, signed by the government, business associations, the KfW state bank and actors from the startup environment, includes measures to improve Germany’s business conditions to foster innovation.
“With it, private investments in venture capital, startups, and innovation technologies are to be mobilized,” German Chancellor Olaf Scholz said. “This strengthens the German venture capital market and economic location as a whole.”
($1 = 0.8990 euros)
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