Money from the state for the Munich region

Both the federal and state governments want to support the start-up structures in the Munich region: The Federal Ministry of Economics and Technology 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 funding the region around the Bavarian capital with 5.9 million euros to advance the AI ecosystem. Led by the MUC SUMMIT initiative, the project, titled AI+MUNICH, is designed to bring together players in the region who are working on artificial intelligence with idea generators for start-ups, and also aims 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 giving 1.5 million euros to support the establishment of a deep-tech incubator. Here, the TU Munich is in charge. Interfaces to initiatives such as the TUM Venture Labs or digital incubators are to be created.

Bavarian Minister of Economic Affairs Hubert Aiwanger is pleased 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 among the global leaders. We also want to take these positions in AI and intelligent robotics," he says, explaining the ambitious plans.