Munich Startup: Please introduce yourselves and Invest in Bavaria.
Invest in Bavaria: We are Katharina Kees and Anissa Nasser from Invest in Bavaria, the settlement agency of the Free State of Bavaria. We support companies in expanding to and within Bavaria. Katharina is responsible for the mobility sector and Anissa for the digitalization sector.
Munich Startup: Why have you aligned your strategy toward different industries?
Invest in Bavaria: Invest in Bavaria was realigned in early 2023 following the Bavarian Innovation Strategy to more specifically address companies that make Bavaria future-ready. The specialization fields of the innovation strategy are mobility, life sciences, energy, materials, and digitalization.
Market knowledge, customer contacts, and funding are needed before expansion
Munich Startup: To be successful in Bavaria, an international startup should…
Invest in Bavaria: … have a clear picture of the market, already have first customers in Germany, and have sufficient funding for expansion. Additionally, it is advisable to utilize the offerings of economic development and local startup organizations, and to take an active role in networks and clusters to establish business relationships.
Munich Startup: Can you provide examples of successful settlements?
Invest in Bavaria: We treat all investment projects confidentially, but we are also happy to support companies in marketing efforts after settlement to become better known in the Free State and build contacts within the ecosystem. We see ourselves as a guide and follow the “Talk to us first” approach. Examples of settlements we can mention include the French fintech startup October and the Chinese air taxi startup Auto Flight. While the industries and countries of origin of the companies are very different, all of them find suitable points of contact here. Invest in Bavaria also supports companies already based in Bavaria that are planning an expansion and want to continue growing here.
Invest in Bavaria: Free guide through the multitude of offerings in Bavaria
Munich Startup: Why does a successful foreign startup even need someone like you?
Invest in Bavaria: We accompany foreign startups – and especially scaleups – through all phases of the investment process: from planning and company formation to the search for a suitable location to networking with contacts from useful networks to facilitate market entry. Additionally, we work closely with many startup organizations and involve them in local events, such as Bits & Pretzels or the Tech Days.
As mentioned, we serve a guide function for companies, so they don’t have to laboriously navigate through the large variety of offerings in Bavaria themselves, but rather have a “one-stop shop” contact with us. Since Invest in Bavaria is a publicly funded entity of the Bavarian State Ministry for Economic Affairs, Regional Development and Energy, our services are also free of charge for all companies.
Once the company has settled, it can also use the services of Bayern International, which means trade fair participation worldwide, delegation trips, and access to the global network of Bavarian foreign representatives.
Free offerings for local startups too
Munich Startup: What funding options are available for foreign startups wanting to settle in Bavaria?
Invest in Bavaria: As a rule, startups need an establishment in Bavaria to be eligible for funding. We are happy to provide an overview of the various funding options and connect with organizations and partner companies that offer funding or help with funding applications, such as the funding guide from Bayern Innovativ or the Bavarian Research Alliance BayFor. We also like to connect with BayStartup, which supports startups with coaching, investor contacts, and events like the BayStartup Demo Nights.
In general, the focus in Bavaria is on technology funding. This means above all that projects in the area of research and development have a chance of receiving financial support.
Lack of preparation as the biggest mistake
Munich Startup: What is the biggest mistake a startup can make during expansion?
Invest in Bavaria: Lack of preparation is certainly one to mention. Thorough and detailed market research is irreplaceable. Does the market need the product? Does the product need to be adapted for the local market? These are questions a company should ask itself beforehand.
Munich Startup: The trends of the year…
Invest in Bavaria: … are certainly AI, then also cybersecurity, sustainability, climate tech, and health tech.
Munich Startup: What characteristics make the Munich startup ecosystem so special?
Invest in Bavaria: The Munich startup ecosystem offers startups many networking opportunities, with startup organizations like Munich Startup, BayStartup, Plug & Play, Strascheg Entrepreneurship Center, etc., incubators like Werk1 in Munich or Techbase in Regensburg, a variety of VC investors, numerous co-working spaces, proximity to excellent universities, and of course a wonderful location in the Bavarian Alpine foothills.
Munich Startup: Last but not least: Who should startups contact if they want to speak with you?
Invest in Bavaria: Startups can reach out through the contact form on our website or write directly to Katharina and Anissa. Depending on the industry, we will then forward to the relevant contacts internally.
