German startups could use more venture capital, but the German government has a plan – TechCrunch & More Latest News Here
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Read recently about Germany €30 billion plan for his startups, I was intrigued. Is the country beginning to envy French Tech? Does he hope to compete with the post-Brexit UK? Maybe both, but he also has a national goal: to make sure the profits from local hits stay home. Let’s explore. — Anne
Second, third or eighteenth?
European startups have weathered the VC slowdown quite well, and funding was only slightly down in the second quarter compared to the first three months of 2022.
German startups, however, have seen worse: according to EY, they collectively attracted 20% less capital in the first half of 2022 than in the same period last year. This includes private equity, but venture capital fell even more sharply, from €4.44 billion to €2.89 billion (about the same amount in US dollars).
German startups could use more venture capital, but the German government has a plan – TechCrunch & Latest News Update
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