The fond is to be endowed with 100 million euros to help young, profitable companies to establish themselves in the market. The city will contribute ten million euros to the fund and is committed to providing private investors a further 90 million euros.
“Our goal is to become the start-up and innovation capital city in Germany,” said Rolf Bösinger, State Councilor of the Economic Commission ihn an interview with Abendblatt. Hamburg is already very good in promoting start-ups with sums of up to one million euros.
The bad news is, that only 10% of the money (10 million) will come from the city itself, and 90% needs to get aquired by corporates or private individuals – Lets see if our local goverment can find this money, or if this is another promise.
We think that this is a good idea and Hamburg need initatives like this. But as there is no timelime, no management team and also no private investors behind this plan, the question will be if this will show any results in the next years.
Update Dec 21.12 – it turns out, that these are all fake news – sorry !!!