The 2018 Global Startup Ecosystem Report (GSER) was presented today, and for the first time, the Munich startup ecosystem is represented in the global study. The analysis ranks Munich among the most important international locations in three industries.
The stated goal of the study is to shed light on success factors for startup ecosystems and to identify the most successful locations in their respective industries. A comparative global ranking is not part of the analysis this year and is not scheduled to be published again until 2019. The report is based on data from over 10,000 founders in 45 startup hubs worldwide. According to the study, it is based on the world's largest primary data collection on startup ecosystem research. For the first time, Munich is participating in the GSER as the third German location alongside Berlin and Frankfurt am Main.
Munich leads in three sectors
The study examines twelve sectors and industries in which startups are active. The Munich ecosystem is ranked among the world's leading locations in three of these sectors. The study highlights the strength of Munich startups in the fintech sector. One in nine VC euros in Munich has flowed into financial startups over the past five years. The authors cite the Munich-based roboadvisor Scalable Capital as a successful example. The study also points to the strength of the domestic insurance industry and the Werk1 insurtech accelerator.
The study identifies a second strength of Munich in the healthcare sector. More than 350 companies generate more than five billion euros in revenue in Munich. The GSER cites the Fraunhofer Society, Ludwig Maximilian University, and the Technical University of Munich as key institutions in Munich's healthcare sector.
With ADAC, BMW, MAN, and Audi in the city and the region, the authors also consider Munich to be one of the leading mobility hubs. 10% of all local VC investments flowed into the sector. BMW, with its Startup Garage and the Corporate VC Fund BMW i Ventures as a successful example of cooperation between established industry and startups. Not surprisingly, the study Flixbus as a success story in the industry.
Munich Startup is part of the Startup Genome network. Gabriele Böhmer summarizes the strengths of the Munich ecosystem:
"Munich's startup ecosystem consists of world-renowned corporate partners, an extensive financial industry network, excellent infrastructure, and leading universities in Germany and Europe. A quality of life that is among the highest in the world rounds out Munich's profile."
“Get on the radar of global talent and investors”
The report acknowledges the particular importance of Munich's universities and the Munich University of Applied Sciences, as well as the associated entrepreneurship centers, for the location. Prof. Klaus Sailer, Managing Director of Strascheg Center for Entrepreneurship, says:
"We are delighted that Munich is now included in the world's most important report on startup ecosystems with its continuous rankings. On the one hand, such international comparability is enormously important and motivating. On the other hand, we also hope to continuously increase the visibility of our ecosystem and increasingly appear on the radar of global talent and investors as an attractive location."
Helmut Schönenberger, Managing Director of UnternehmerTUM, commented:
"The Munich startup ecosystem is supported by over a hundred support organizations such as startup incubators, accelerators, entrepreneurship programs, co-working spaces, coding schools, and maker spaces. What makes it special is the open innovation culture that connects startups with universities and established companies."
Claudia Schlebach, Head of Business Development at Munich Chamber of Commerce and Industry, says:
"Companies in and around Munich offer a wide range of cooperation opportunities. Multinational corporations as well as successful German SMEs offer innovation projects and collaborate with startups to develop new products and services. This helps startups finance themselves, as revenue is the best form of financing."
