Key Industries of the German Economy
For the key industries of the German economy: the automotive industry, mechanical engineering and chemistry, hardware-oriented business models continue to form the basis of business. The groundbreaking future fields: e-commerce, Internet of Things, artificial intelligence are based on software, data and related services. The automotive industry in particular is therefore investing heavily in research and development for new mobility (see article: Germany at the top in the “Innovation Index”).
Unicorn Startups in Germany
With regard to the development of software innovations, however, Germany lags behind the USA. The 30 largest German companies have currently been overtaken by a single American giant (Apple) in their market valuation (see article: The Apple Effect: Germany fears being left behind by Big Tech). And the number of German unicorns, startups worth more than $ 1 billion is still expandable at 12, compared to the USA: 217 and China: 106 (see Global Unicorn Club: cbinsights.com/research-unicorn-companies).
Courage to change also helps SMEs
Technology-driven companies take changes differently, diversify and recognize the use of data for other new business areas. Amazon and Google are flagship companies when it comes to groundbreaking product variations and sector leaps. The leap for Google in the healthcare industry doesn’t seem far anymore due to the existing data potential. Tesla’s direct customer contact in turn enables the data-driven development of the car to become a multifunctional platform for further services.
A courageous entry of small and medium-sized businesses into additional, new business areas can promote the local startup ecosystem. Coupled with strong venture capital financing, more innovative startups should be able to develop in the direction of the unicorn (see Financial Times “The Apple Effect” above).
Innovative Business Model Development with the Tech Startup School
The Tech Startup School supports companies in developing ideas and problems with market potential and business models that are capable of being founded. The aim is to establish innovative startups on the market. We put together an interdisciplinary founding team, coach the business design process and accompany the founding team and the company that gave the idea to the start-up and beyond. More information for companies at: https://tech-startup-school.de/en/ideas