Baden-Württemberg extends start-up funding

The country's pre-seed program will continue in 2023 and 2024. A total of 14 million euros is available.

Baden-Württemberg's Ministry of Economic Affairs is putting seven million euros into early-stage financing for startups in 2023. Seven million euros will also be available in 2024. It is a continuation of the Pre-Seed program, which has been running since 2018. To date, around 35 million euros have flowed into around 200 young companies in Baden-Württemberg through this.

"I am very pleased that around seven million euros have been made available for Start-up Pre-Seed in each of the years 2023 and 2024 with the double budget and that we can thus provide targeted support for further start-ups in the state," said Minister Nicole Hoffmeister-Kraut (CDU).

In the pre-seed program, the state generally invests 160,000 euros, with another 40,000 euros coming from private co-investors. In addition, the startups gain access to pre-seed partners accredited by the ministry, who are usually recruited from local accelerators. Only four percent of the funded startups are no longer active, he said, a figure well below the national average.