Munich is no longer an insider tip among startups: Two elite universities provide top-class personnel, the high quality of life in Italy's "northernmost city" magically attracts skilled workers, and a strong "old economy" provides an ideal breeding ground for founders.
The economic power of the state capital is well known. Munich has long been the DAX ranking 13 DAX, MDAX and TecDAX companies with a market value of over 330 billion euros are based here and are looking for investment opportunities in the startup scene.
The Munich startup scene not only benefits from the companies based in Munich, it also provides the city with crucial impulses and high-quality jobs. According to a BITKOM study Munich start-ups create an average of 21 new jobs, while Berlin start-ups employ 17 and Hamburg start-ups employ only six.
Especially in the high-tech sector, Munich does not need to shy away from European comparisons. EU Commission 2014 as part of the EU Atlas of ICT Hotspots All 1,303 NUTS3 regions in Europe were assessed for their suitability for the ICT economy. The winner, ahead of London and Paris, was the Bavarian capital.
There is no end in sight to the Munich boom: The Hamburg Institute of International Economics (HWWI) Munich has the best future prospects of all German cities. Employment, education, internationality, and population growth were considered as decisive factors.
Further exciting facts and figures about Munich can be found in the brochure “Munich. The Business Location” and in other publications of the Department of Labor and Economic Development of the City of Munich.
