Bavarian Ministry of Economic Affairs promotes start-ups

A new funding programme is to help young companies with their internationalization.

Bavarian start-ups that focus on technology topics are to receive support in opening up new foreign markets with immediate effect. The Bavarian Ministry of Economic Affairs has launched a new funding program called "Start-up International". It is making a total of 2.1 million euros available for this purpose.

The young companies can receive up to 23,000 euros per target country over a period of twelve months. As part of the program, they can receive a 50 percent subsidy for consulting and coaching services, marketing and advertising measures and participation in trade fairs, among other things. One condition is that they open up a maximum of two new target countries. Start-ups that are no more than eight years old are eligible for funding.

"Digital and scalable business models know no boundaries," says Minister of Economic Affairs Hubert Aiwanger. "We want to build on this great potential and therefore support start-ups in opening up new foreign markets." This will promote the growth and consolidation of companies. "This pays off - because every Bavarian company abroad is also an ambassador for our economy."

The program is part of the so-called "Hightech Agenda Plus". It was developed in coordination with the Bavarian Foreign Trade and Investment Center. However, the industry itself was also able to exert influence: The authority also coordinated with various partners from start-up organizations.