On Monday, November 3rd, EIT ICT Labs discussed together with the Konrad-Adenauer-Foundation, hub:raum and SRH University Berlin as well as startup experts and approximately 110 participants about the key factors of successful early stage entrepreneurship. Keynotes, presentations and panel discussions of speakers, such as Dr. Philipp Murmann and Thomas Jarzombek (Members of the German Parliament), Michael Brandkamp (High-Tech Gründerfonds) and Dr. Udo Bub (EIT ICT Labs Germany) displayed the challenges that startups face in Germany and on a global level.
All participants agreed that startups can help the German economy to new heights. They are the backbone of the “Mittelstand”; however, in many ways startups are still struggling with basic needs, such as sufficient starting capital. Statistics say that about 350,000 startups existed in 2013, especially in the Internet industry. Approximately one-half of them had only 5,000 Euro of starting capital, which is far too little.
Besides the discussions, a pitch session showed how innovative and forward-looking startups can be and the high value they can contribute to the economy. Stephan Kühr, from the EIT ICT Labs supported and Idea Challenge third placed ranked startup 3YourMind, was voted by all participants as winner. In the evening he was awarded with a special lighted trophy.
Photos: KAS/Juliane Liebers