Innogrowth BW: New funding program strengthens the equity of start-ups in Baden-Württemberg

Innogrowth BW: New funding program strengthens the equity of start-ups in Baden-Württemberg

Innogrowth BW: More capital for start-ups in Baden-Württemberg

Baden-Württemberg is known as a location for innovation and entrepreneurship. In order to further strengthen the growth and competitiveness of the start-up scene, the Ministry of Economics, Labor and Tourism and the L-Bank launched the Innogrowth BW funding program. With a program volume of initially 75 million euros for the next three years, the program will improve the equity base of start-ups and enable growth-promoting investments.

The new funding program complements the existing start-up promotion offer and offers dynamic start-ups an attractive way to get additional capital. With Innogrowth BW BW, investment companies or private investors can secure up to 70 percent of their financial commitment in start-ups or young growth-oriented companies through an interest-free loan. The maximum insurance amount is 5.25 million euros. The financing is mainly carried out by the loan institution for reconstruction (KfW), while the country contributes a small part.

Minister Dr. Nicole Hoffmeister -Kraut emphasized the importance of the targeted investment in future industries and companies for the development of the country. She emphasized that innovative ideas and business models as well as the people who implement them are particularly promoting Baden-Württemberg.

The exemption from liability for the refinancing loan is particularly attractive at Innogrowth BW. This makes it easier for investors to financially participate in promising innovative companies. At the same time, young companies receive improved access to capital, which helps them to fully exploit their growth potential.

In order to be considered for innogowth BW financing, funded companies must meet certain criteria. An innovative business model is required and the company's seat or the company's focus must be in Baden-Württemberg. In addition, the company's group turnover must not exceed the 75 million euros mark.

The program volume of 75 million euros for the next three years shows the commitment of the ministry and the L-Bank for the expansion of start-up funding. Additional capital enables start-ups in Baden-Württemberg to advance their innovation projects, to create new jobs and contribute to the further economic development of the country.

The effects of Innogrowth BW on the start-up scene can be significant. The improved availability of capital will enable young entrepreneurs to start new projects and accelerate their companies' growth. It is expected to lead to an increased number of start-ups in the area of the innovation industry. In addition, successful start-ups can also attract investors who are facilitated by liability and other measures.

The Innogrowth BW funding program is further evidence that Baden-Württemberg wants to position itself as a leading location for innovation and entrepreneurship. By strengthening the start-up scene, new jobs can be created and the country's competitiveness can be strengthened. It remains to be seen how the program will develop, but the first steps indicate that the effects could be positive.