About 1.17 billion USD raised by German startups in 2016
Xinhua, December 13, 2016 Adjust font size:
German startup companies have raised over 1.1 billion euros (1.17 billion U.S. dollars) of external capital this year, according to an industry overview report on Monday.
The report titled "German startup monitor 2016" has been initiated and accomplished by the German Startup Association, covering 1,224 startups, 3,043 founders and 14,513 employees of the country.
Each startup hires on average 14.4 employees, two in three startups support social engagement and more than half of the startups value the sustainable development of their companies, said the report
About 30 percent of employees in German startups are not German citizens.The proportion jumps to 42 percent in Berlin. More than 80 percent of German startups plan further internalization.
The biggest obstacles for startups are differences in legislation and regulation, and in taxation system. But 90 percent of the founders evaluate their current business situation as good or satisfactory.
"The German government will make the framework for German venture capital market more competitive worldwide," said German Finance Minister Wolfgang Schaeuble in the report's preface.
The German Startups Association was founded in 2012 and is the representative of startups of the country. Endit