Meet the Person in Charge of Germany’s €10 bn Startup Program

We are not only spending 10 bn € on startups, but we also have 5-6 bn € from older programs. … in total 15 – 16 bn Euros Thomas Jarzombek, MdB, Commissioner for Digital and Startups The Commissioner for Digital and Startups In this interview we talk to Thomas Jarzombek (https://www.linkedin.com/in/thomas-jarzombek-a4227183/ (https://www.linkedin.com/in/thomas-jarzombek-a4227183/)) a member of the German Parliament Bundestag, also the Commissioner for Digital and Startups of Germany and in charge of the newly started 10 bn startup program. Thomas is a member of the CDU, Christian Democratic Union, the party of chancellor Merkel. (https://en.wikipedia.org/wiki/Christian_Democratic_Union_of_Germany (https://en.wikipedia.org/wiki/Christian_Democratic_Union_of_Germany)). Thomas has also been an entrepreneur before he was an elected official. He started out with implementing Windows 95. Note: In the name tag in the YouTube video, we shorted this to “Digital commissioner”, due to the available space. How the money will be invested Note: There is a general election coming up in Germany on September 26th, 2021. This will lead to a new government since chancellor Merkel will retire. Therefore, another government may change this allocation. We also invest in rocket technology. We have been looking at what Elon Musk does with SpaceX and adapted some of his strategies. Thomas Jarzombek, MdB, Commissioner for Digital and Startups Investing Indirectly (as LP) The new investment program is looking to invest 50% together with private investors, who also chip in the other half. The program will invest in European VCs, focusing on Germany. They are looking for VCs, investing in Germany approx. the money they receive from the program. The largest single investment will be as LP of the European Investment Fund, which will get 3 bn Euros (https://www.eif.org/ (https://www.eif.org/)). HTGF will start a 4th fund with money from the program. Look in our show notes below for the interview with the CEO of HTGF. They raise funds with half of the money coming from the Government and half from private investors, which include already household names like Bosch, BASF, B. Braun, Boehringer, Deutsche Bank, Deutsche Post DHL, Lanxess, RWE, SAP and many others. We have patient money and I expect the money to be spent over the next 10 years. Thomas Jarzombek, MdB, Commissioner for Digital and Startups Investing Directly: Deep Tech Future Fund The Deep Tech Future Fund (https://deeptech-future-fonds.de/ (https://deeptech-future-fonds.de/)) is aiming to commercialize innovations from Germany. They are even investing in startups directly, who do not have a business model yet, for example working in quantum computing. 2 bn Euros will be managed by KfW in discretionary accounts to set up specific investment vehicles and their subsidiary Coparion (https://www.coparion.vc/ (https://www.coparion.vc/)). Part of the money will be managed in discretionary accounts. These vehicles can invest directly in startups. --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app (https://anchor.fm/app) Support this podcast: https://anchor.fm/germanstartupnews/support (https://anchor.fm/germanstartupnews/support)