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Not all support is the right support

Try it out before you trust it: Today, startups receive offers for support from all over the place. But a current study shows a growing lack of transparency, causing greater disparities in quality.

07 May. 2018 David Schahinian
Source: Institut für Innovation und Technik
Source: Institut für Innovation und Technik

Commissioned by the Federal Ministry for Economic Affairs and Energy, the Institute for Innovation and Technology (iit) examined what types of support are currently available to startups. In response to the release of the study, (summary here ), Federal Minister Peter Altmeier (CDU) claimed there are no longer gaps in coverage. But due to high momentum, offers are becoming less transparent, especially when one considers the increase in international offers. At the same time, German startups have become more professional, meaning their demands and requirements for support have also grown.

according to the study, SMEs are becoming more and more interesting as corporate providers to startups, because companies can collaborate with them impartially and on an equal footing. But SMEs are generally unable to fully implement such support measures alone. The authors of the study recommend building company networks.

Cities and scientific institutes are also worth considering as contacts for startups. For example, the city of Hamburg has set up a single point of contact for entrepreneurs offering information and support. In Frankfurt, 17 colleges have joined forces, forming the FrankfurtRheinMain startup college network enabling access to funding programs and incubators, among other things.