The Berlin startup scene is booming, some predict that Berlin will become the European startup hub or the next Silicon Valley, and some say it already is. New ventures are born every day, and it is a tough but exciting environment to be a part of.
On August 27th, Dr. Pätzold, a member of parliament from the CDU (Christian Democratic Union) party, visited Fyber as part of their Berlin Startup tour and sat down with our co-founder, Janis Zech. As Fyber started in Berlin and successfully expanded to Silicon Valley, Dr. Pätzold was interested in the insights and teachings Fyber was able to share.
The German government understands the importance of startups, not only for tax contribution and attracting foreign investors, but particularly for the jobs it creates. According to a McKinsey study, by 2020 more than 100,000 new jobs may be created in Berlin, thanks to the startup trend.
Of course, in order to attract entrepreneurs and venture capital, the German government needs to get involved and be proactive. They can offer startups resources and foster growth that will help to develop the economy in the long run, specifically in innovative industries. Interestingly, the government seems to be on the right track already. A number of programs and grants have already or are currently being developed for startups, and learning from the positive examples of businesses, such as Fyber, can help those that take the brave step of starting their own venture.
Below are thoughts from Fyber co-founder, Janis Zech, on what can be done to spur additional growth and foster success within the expanding German startup scene:
- Registering within the German system should be simplified for those that arrive as employees or entrepreneurs. One must visit a myriad of bureaucratic offices when one moves to Germany and must operate exclusively in German. A more welcoming culture can be created via the availability of a multilingual start-up agency. Interpreters could be hired for the existing bureaucratic offices to allow for a stress-free registration process.
- More venture capital should be attracted to the city. There is a growing interest among international investors, but more must be done to secure capital for growing businesses.
- Work closely with financial institutions to empower companies on their path to a successful initial public offering.
We hope that even more great startups grow in Berlin and succeed in entering the U.S. and other international markets, just as Fyber has done.