The Bavarian capital is an exciting location for startups. Anyone who is not from Munich and wants to start a business here will supported by various bodies. Right at the forefront: Invest in Bavaria. The institution helps non-Bavarian companies to establish or open a location in Bavaria.
Munich Startup asked Christian Gnam, Head of Investor Relations for Digital Economy, English-speaking Countries and Startups at the Bavarian Business Development Agency.
Support for non-Bavarian companies
Please introduce yourselves briefly.
Invest in Bavaria We help foreign and non-Bavarian companies establish themselves in Bavaria and assist existing companies with complex expansion projects. We provide market information, assist with the search for space or offices, and facilitate contacts with industry and technology clusters, funding institutions, and financing networks.
For startups outside of Bavaria, we are usually the first point of contact and support them with issues such as location selection, company formation, and networking with relevant startup and startup institutions. At Invest in Bavaria, we have two colleagues who are exclusively responsible for startups, but of course, this topic is now playing an increasingly important role within the entire team.
What do you focus on when working with startups?
When it comes to relocation and expansion projects, it's especially important for startups to have a partner at their side who understands both the business culture of the location and the cultural background of the founding location, as well as who can provide access to the relevant networks. Invest in Bavaria therefore acts as a partner for the respective startups, paving the way for them to enter the new market.
To be successful in Bavaria, a startup must…
...first of all, they have developed either a technologically innovative product or a clever new business model. The startup should also be able to sell this well to investors or customers.
Bavaria is home to many large and industrial companies from various sectors, which act as potential customers and investors for young entrepreneurs. It is important that startups design their products in such a way that they can be integrated into the company's product or production cycles without major effort.
Pilot in setting up a new company location
Why does a good foreign startup even need someone like you behind it?
Startups already have to contend with exceptional circumstances in their day-to-day business, which they often have to manage with very limited financial and human resources. Setting up a new location is a complicated and time-consuming undertaking, even for large companies. Therefore, it is only beneficial for a startup to have a partner at its side who can act as a guide and point them in the right direction.
What is the biggest mistake a startup can make?
When a foreign startup assumes that its business model or product can be transferred one-to-one to the German market without first having familiarized itself with the local market environment and the legal and regulatory framework.
The trends of the year…
… that we have observed so far in our inquiries about locations are augmented reality, big data, artificial intelligence in connection with robotics, the Internet of Things and 3D printing!
Munich startup scene: B2B and technology-driven
What characteristics make the Munich startup scene so special?
With seven DAX-listed companies located in the greater Munich area and numerous research institutions, Munich's startup scene is strongly B2B and technology-driven. Munich startups also tend to become profitable more quickly.
Furthermore, this is where entrepreneurial spirit meets Bavarian traditions and culture. This mix is something truly special and is highly valued by our local and international startups. If you look closely, networking is one of the most important Bavarian cultural assets—what would we be without our regulars' tables?
Last but not least: Who do startups approach when they want to talk to you?
You can contact our colleagues directly Joshua Worger and Lisa Kohl from the startup team approach.
By the way, the two are themselves in the Munich startup incubator WERK1Alternatively, you can contact them by email: lisa.kohl@invest-in-bavaria.de or joshua.worger@invest-in-bavaria.de.
Interested startups can also centrally www.invest-in-bavaria.com inquire with us.
