The University of Hamburg was among Tuesday’s (December 3, 2019) winners of the four-year EXIST Business Start-up Grant presented by the German Ministry of Economics and Energy (BMWi). From spring 2020, the university will receive EUR 2 million in funds while the joint Startup Port – Knowledge-Based Entrepreneurship in the Hamburg Metropolitan Region secured EUR 3.5 million in funds. A total of 142 state and private universities across Germany won EUR 150 million in funds.
Catalyst of structural change
Speaking during the awards ceremony, Peter Altmaier, Germany’s Minister for Economics, noted: “Start-ups have huge strategic importance for Germany as a business location. They advance innovations, are the engines of structural change and create jobs of the future. Universities play a key role as think tanks for innovative start-up projects.” The EXIST grant aims to improve the framework conditions for start-ups and knowledge-based spin-offs from universities and to raise the long-term academic support in the long-term.
The University of Hamburg is putting the grant of EUR 2 million towards inter-faculty start-up consulting and entrepreneurship courses. The plans also foresee physical and virtual meeting rooms for people interested in starting a business and working across faculties.
Joint project boosts knowledge-based start-ups
The joint Startup Port – Knowledge-Based Entrepreneurship in the Hamburg Metropolitan Region was initiated by educational and research institutions in Hamburg to strengthen and stimulate knowledge-based start-ups. Katharina Fegebank, Senator for Science, Research and Equality, remarked: “The ‘Startup Port’ offers an excellent opportunity to promote knowledge and technology transfer at universities and to set up knowledge-based start-ups in the Hamburg Metropolitan Region. The project strengthens co-operation and networking between science, business, politics and society at the same time.”