Germany is not just heavy industry and car manufacturers: the country is gradually becoming the 'European Silicon Valley'.
Together with England, Germany is one of the most attractive places in Europe to start a business. With one of the strongest economies in the Old Continent, it has established itself as the most suitable ecosystem for companies starting up between its borders to have a healthy and constant growth.
Within Germany, Munich and Berlin are at the forefront of innovation and entrepreneurship. Although it is the Munich state that is in the first position, Berlin is applying to become Europe's Silicon Valley thanks to initiatives such as the Deutschland Digital 2015 Plan or the High-Tech Grunderfonds (HTGF), the main investor in German startups, which receives 80% of government funds.
According to a study by Investitionsbank Berlin (IBB), startups are expected to generate approximately 100,000 jobs by 2020. The digital economy is the one that is gaining the most strength, with an internet business being started in Berlin every 20 hours. Among them all, these are the 10 most attractive start-ups in the German entrepreneurship industry.
Clark is a start-up company specialized in the world of insurance, offering comprehensive and intelligent solutions for German retailers, making insurance product comparisons for their customers. The main objective of this fintech is to provide transparent, cheap and complete insurance coverage, combining the previous experience of its founders in the sector as well as the use of new technologies.
Last year it obtained financing of 13 million euros and is set to become one of the most attractive and suggestive fintechs on the market in the coming years. Clark is supported by the fintech accelerator FinLeap and the insurance think tank ITA (German Transparency Institute). As a bonus, it is one of the only companies availabone on American stock exchanges.
Kontist is a start-up that has based its line of business on the idea that freelancers will change the labor model in the coming years to confront corporate structures and focus on the individuality of workers, basing the world of work on a meritocratic system.
Kontist aims to provide banking services to those freelancers who have good ideas for the creation of new businesses. In other words, to finance those who deserve it. To do so, it will use a financial system based on the opening of simple bank accounts; mobile banking and much more. This model has already received more than 2 million euros in funding to start up.
Thanks to GetYourGuide you can search, compare and book guided tours all over the world. You can visit places of interest or go on excursions. They are specialists in offering alternative plans and fun activities, with a wide range of leisure activities.
GetYourGuide collects and catalogues a wide range of things to do around the world so that you have to do less research and can "do more". The App can be downloaded for free on both iOS and Android devices, and users can choose from over 23,000 offers from 2,000 different destinations.
This company aims to free small businesses from all bureaucratic procedures. In other words, to eliminate paperwork. The idea is to combine renowned experts with artificial intelligence to offer comprehensive solutions to manage the finances of the hospitality, retail and crafts sectors.
Zeitgold provides its clients with the necessary tools to obtain business accounting, payroll; bill payment; tax advice; etc. in less than 10 minutes a day thanks to smartphones, thus allowing companies to save 10 hours a week. Thanks to this pragmatic idea, it has already raised 4.2 million euros in risk capital for its financing.
DaWanda is an online marketplace for buying handmade products and gifts. The company is characterized by marketing craft products that stand out for their originality and quality.
Thanks to this market you can buy unusual gifts, unique and manufactured products that are setting the trend in Germany. As a double aspect, it has become a meeting point for artists, designers and creatives, who exchange their ideas and receive custom orders from both buyers and sellers.
Delivery Hero is an online service dedicated to transporting food from all the restaurants in its network. It is like the German Deliveroo, and it has come to stay, as it has a presence in 34 countries, with thousands of restaurants among its services.
Thanks to this food delivery service, customers can order their favourite dishes from home and enjoy a service that, as a rule, is characterised by its speed and efficiency.
A true champion: DeepL
When, in October 2019, the news reached the media that DeepL had won the first German Honor Prize in Artificial Intelligence, many people rubbed their eyes. DeepL, a German company? Indeed, that startup of neural network-based machine translation systems is based in Cologne.
And it deserves the award: according to blind tests, the translation quality of its online service is significantly better than that of industry giants such as Google, Microsoft or Facebook. The highlight: DeepL has higher quality data than its competitors. The neural networks are "trained" on a supercomputer in Iceland, which runs on low-cost hydroelectric power. In the summer of 2019, Jaroslaw Kutylowski replaced DeepL founder Gereon Frahling as CEO.
Frahling wants to devote himself to the development and improvement of artificial intelligence technologies. Frahling left his job at Google Research as early as 2007 to develop a translation search engine.
We All Know It: Teamviewer
Even economic experts did not believe that the IT specialists in Göppingen in south-west Germany could be so successful. At the end of September 2019, on the occasion of the IPO of Teamviewer, several hundred employees danced for joy: the initial public offering of shares of the world market leader in computer-to-computer remote diagnostics was one of the most successful of a German company in recent years.
Tilo Rossmanith developed the software for his own use in 2005. It is currently installed on more than two billion devices worldwide and Teamviewer has more than 800 employees in Europe, the USA and Asia. The company is now worth more than 5 billion euros. And the prospects are still good. Especially in times of economic crisis, companies use Teamviewer programs to save travel expenses.