|By PR Newswire||
|November 26, 2012 07:01 AM EST||
BERLIN and SAN FRANCISCO, November 26, 2012 /PRNewswire/ --
Google intends to invest one million euros in a new startup hub in Berlin. The U.S investor Kennet has recently contributed 15 million dollars in Trademob, an app marketing platform. These examples show how the German startup scene has been increasingly winning over international investors. Germany Trade & Invest invites U.S venture capital firms on November 27, 2012 to an exclusive gathering at the German Consulate in New York. A further event will follow at the German Consulate in San Francisco on November 29. Representatives of German and U.S VC firms will report on their experiences with German VC investments.
Berlin in particular has in recent years evolved into a startup Mecca. "Several factors support Berlin's current attractiveness. Compared to the rest of Europe, the cost of living is relatively low. There is also the cultural diversity of Berlin, which has a positive effect on the creative powers of the city. And, last but not least, the salaries for developers are more attractive than what is comparatively being offered in Silicon Valley," says Angelika Geiger, representative of Germany Trade & Invest in San Francisco.
In 2011, 431 million euros were invested in German seed and startup companies. From this, approximately 16 percent were made by foreign venture capitalists. The current hot spots for venture capital are Berlin and Munich, combining for more than 50 percent of total VC investment. The recent exit of the investment company Triangle Ventures from Technolas Perfect vision confirms that VC investments in German firms pay off. The laser eye company was sold for 450 million euros to Bausch & Lomb.
Germany Trade & Invest is the foreign trade and inward investment agency of the Federal Republic of Germany. The organization advises foreign companies seeking to expand into the German market. It supports German companies that seek to enter foreign markets, with foreign trade information.
SOURCE Germany Trade and Invest
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