Germany

Berlin

Attraction Phase

Berlin has organically grown into the European hub for IoT and Blockchain, where tech talent and industry giants jointly solve problems to drive technological and economic growth.

Nico Gramenz
CEO of Factory Berlin

Sub-sector Strengths

AI, Big Data & Analytics

Berlin is home to more AI companies than any other German ecosystem and employs more than 5,000 people. AI companies in Berlin are expected to generate more than $2.2 billion in revenue by 2025. The ecosystem has internationally renowned centers such as the German Research Center for Artificial Intelligence, the Berlin Center for Machine Learning, and the Berlin Big Data Center. In addition, the government has announced it will invest $3.4 billion in developing the country’s AI capabilities and research over the next six years. Startups in the space include Ada Health, an AI-driven healthcare app, which raised $47 million in a Series A round in 2017.

Fintech

Berlin’s Fintech ecosystem is home to numerous startup support organizations such as FinLeap, a VC firm focusing on Fintech investments and operating one of the largest hubs for Fintech startups in Europe, H:32. Incumbents such as Deutsche Bank and Axel Springer run innovation labs and accelerator programs, but the most exciting part are the startups themselves. Fintech unicorn N26 raised $300 million in Series D funding in January 2019 while Raisin, featured on the FinTech50 list of the top 50 Fintech startups across Europe in 2018, raised $114 million in a Series D round in 2019.

Why you should invest in Berlin

SOFTWARE STARTUP OUTPUT
1.9 k-2.6 k
GLOBAL AVG.
1,010
ECOSYSTEM VALUE
$23 bn
GLOBAL AVG.
$5 bn
#3 Global Ecosystem
Market Reach
Top 15 Global Ecosystem
Fintech
9
Exit Growth
INDEX
7
Output Growth
INDEX
3
Funding Growth
INDEX

Reasons to move your startup to Berlin

EARLY-STAGE FUNDING PER STARTUP
$565 k
GLOBAL AVG.
$284 k
TOTAL EARLY-STAGE FUNDING
$1.4 bn
GLOBAL AVG.
$837 m
SOFTWARE ENGINEER SALARY
$65.1 k
GLOBAL AVG.
$58.3 k

Incentivizing R&D

By 2025, Berlin aims to increase the ratio of R&D investment to 3.5 percent of GDP and invest $17.4 billion in key research areas.

Attracting milennials

Berlin attracts entrepreneurs and talent from all over the world. Nestpick ranked Germany’s capital as the best city in the world for millennials, based on factors like business ecosystem, essentials, openness, and recreation.

Startup Community

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