Silicon Valley, New York and Tokyo are leading hubs that are probably most associated with high-tech, startups and innovation. What, if you didn’t have to look so far away to find an active startup ecosystem for high-tech innovation and scientific development? Innovation Norway is now paving the way for Norwegian entrepreneurs in the south of Germany. Through our strong network, Innovation Norway can act as a door opener, unveiling new market opportunities.
#bytevaria: Europe’s ICT Hub
Bavaria is more than cars, football and Oktoberfest. With a GDP of EUR 549,19 billion, Bavaria is the EU’s 7th largest economy. Home to global players such as Adidas, Allianz, Audi, BMW, MAN and Siemens and a small and medium-sized businesses in industry, trades and the service sector, Bavaria has become a modern and innovative industrial location with an annual market development rate of 12,3%.
Bill Gates has called Bavaria the “high-tech Mecca” of Europe and a recent study by the European Commission has ranked Munich as Europe’s top ICT location, ahead of London and Paris.
Bavaria accounts for the highest share of all venture capital investments in Germany. The majority of venture capitalists are located in Munich and the government’s decision to invest EUR 1.5 billion over the next five years will benefit both young entrepreneurs and research-orientated companies.
Vehicle construction and mechanical engineering; medical, measurement and control technologies; and manufacturing of electrical equipment are Bavaria’s high-volume and fast growing business areas in which digitalization plays an ever-growing role. Both large corporations like BMW and Audi and many small and medium-sized companies are increasingly becoming IT-based companies who rely on digital solutions and the ideas of innovative start-ups. Key concepts including smart factories, big data, mobile solutions and IT security will be crucial for the development of the industry and open up vast opportunities.
Smart and green mobility
Bavaria is the place to be if you want a role in shaping the mobility of the future. Electro-mobility, lightweight design, efficient driving dynamics, and smart production are only some of the topics dealt with by the automotive cluster in Bavaria today. Renowned manufacturers like BMW partly outsource innovation and look for solutions to their challenges in the ecosystem which has been established. E-mobility and autonomous driving will play a key role in the future. Subsidies set by the government should increase the sales of e-cars in Germany and BMW recently announced their goal to increase their domestic sales by 65% to 100.000 cars in 2017. The governments’ decision to invest 300 Million Euro in establishing a charging infrastructure in the whole country will not only require technologies, know-how and new business models but also offers business opportunities for experienced Norwegian companies.
Companies like Linde Group have ramped up their efforts in hydrogen as fuel as an eco-friendly alternative. Hydrogen as fuel requires innovative solutions covering everything from production, storage and distribution to dispenser manufacturing and fuelling stations.
What’s in it for Norway?
Battery technologies, hydrogen, biofuels, charging infrastructure, smart grids, ICT, new materials – to only name a few fields – include opportunities for Norwegian companies that bring innovative technologies and know-how to the market. There is a strong interest in a strategic cooperation with Norway in several fields.
To find out more about your concrete business opportunities in southern Germany contact:
Katja Kerschke, Market Advisor, Innovation Norway Germany