35 million euros for Hamburg business incubator

Lisa Marie Münster Lisa Marie Münster | 06.01.2021

Hamburg's planned tecHHub innovation center was not supposed to be ready until 2025, but now a temporary solution is to satisfy the demand of young companies. Many millions of euros are coming from economic development.

The city of Hamburg is in a hurry with the Science City project in the Bahrenfeld district and is investing 35 million euros from funds made available to deal with the Corona crisis. Actually, the tecHHub, an innovation center for start-ups and young companies, was not supposed to be completed and ready for use until 2025. Now there is to be a solution as early as next year with containers called tecHHub-Village, which is to be built next to the planned building. "1,400 square meters, two-story with space for about 40 laboratories. In addition, there will also be offices here, a community center with meeting rooms and space for events," explains Economics Senator Michael Westhagemann. "With this, we are already creating facts and launching the first stage of the tecHHub." Demand is high enough now, he says, and the makeshift solution could be used to attract talent before the innovation center is ready in 2025.

The tecHHub will then consist of 10,000 square feet of space where rooms with various technical equipment can be rented, as well as offices, labs and space for events. A start-up centre called Factory II of the DESY research centre is to be built in the immediate vicinity. In addition, there is to be an open workshop for interested parties, schools and associations.

The economic stabilization program includes 45 million, most of which will go to the tecHHub. The remaining ten million will be distributed to other programs, such as artificial intelligence.

At the end of September 2020, there was an information meeting for residents in the area. A lot of criticism was voiced, especially regarding the possible gentrification of the neighborhood and rising rents. "I can understand these concerns very well. In order to rule out such a development, we must issue further social preservation ordinances for the adjacent neighbourhoods in good time," said district office director Stefanie von Berg of the Green Party to the Hamburger Abendblatt

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Hamburg's economic stabilization program is expected to provide a total of about 900 million euros in funding in the coming years.


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