NRW development bank takes stock for 2020

Last year was also a challenge for NRW.Bank: it provided 65% more funding than in 2019, with a total of EUR 17 billion and extra support for start-ups.

NRW.Bank did not let itself down in 2020. And the money was needed: in 2019, it carried out 49 financing rounds; in 2020, the coronavirus year, there were 136 rounds. The focus was on tech start-ups (60%) and biotech (30%). In total, the development institute of the state of North Rhine-Westphalia provided funding amounting to 17 billion euros, 65% more than in 2019. Almost four billion of this was coronavirus aid.

With the NRW.Start-up akut development program, NRW.Bank was able to help 112 young companies with 20.8 million euros. The money went to start-ups that were less than three years old and affected by coronavirus. They each received a convertible loan of up to EUR 200,000 with a term of six years.

In total, the bank made new investments of 65 million euros in the venture capital business, over 50 million euros of which was in early-stage investments. Corona aid accounted for 30.3 million euros here.

"Last year, development banks were more in demand than ever," says Eckhard Forst, Chairman of the Managing Board of NRW.Bank. And he also sees the need for support this year: "Our task for 2021 is to work with the state to ensure that the economic recovery succeeds after the end of the lockdown and that ailing companies recover."