The number of startups registered in Germany increased markedly during the first six months of this year, the German Startups Association said in a report published on Tuesday.
Around 1,300 startups were registered in the country in the first half of 2023, 16 percent more than in the second half of 2022.
The number of new startups in the tourism sector increased by 111 percent, coinciding with the post-COVID boom. In contrast, the blockchain and crypto sector appear to have lost its appeal as the figure was 62 percent down.
Munich remains the favorite place to host new startups per capita over the past 12 months, while Berlin, the country’s capital, reported a 40 percent increase of new startups.
According to Christian Miele, chairman of the German Startups Association, the resurgence of startup creation in Germany is an important signal for the economic and innovative strength of Germany. It also marks a reversal of the slump in 2022, when the number of newly registered startups fell from 3,196 in 2021 to 2,618, down by 18 percent.
There is still room for improvement in this area, Miele added. “If we make Germany the world market leader for startups, it can give our limping economy a real boost.”
Source : English News