Money from the state for the Munich region

Both the federal and state governments want to support the Munich region in its start-up structures: The Federal Ministry of Economics is providing money for the AI ecosystem, while Bavaria itself is investing 1.5 million euros in the establishment of a deep tech incubator.

The Federal Ministry of Economics is supporting the region around the Bavarian capital with 5.9 million euros to advance the AI ecosystem. The project, led by the MUC SUMMIT initiative and entitled AI+MUNICH, aims to bring together players in the region who deal with artificial intelligence with idea providers for start-ups, as well as to network the transfer of knowledge between companies, funding and science more closely.

In addition to the AI+MUNICH project, the Bavarian Ministry of Economic Affairs is also providing 1.5 million euros to support the establishment of a deep tech incubator. The TU Munich is in charge of this. Interfaces to initiatives such as the TUM Venture Labs or digital start-up centers are to be created.

Bavarian Minister of Economic Affairs Hubert Aiwanger is delighted about the financial support: "Munich is developing into a European hotspot for start-ups. In some areas, such as insurtech, the state capital is already one of the world leaders. We also want to occupy these positions in AI and intelligent robotics," he explains the ambitious plans.