Expanding into Germany can be a game-changer for startups from the Baltic region

Expanding into Germany can be a game-changer for startups from the Baltic region and here’s why:

🌟 Europe’s Largest Economy
With a Gross Domestic Product (GDP) of 4.121 billion Euros in 2023, Germany is the third-largest economy in the world after the United States and China and the largest economy in Europe, contributing 25% of the EU’s total GDP. Germany boasts a population of over 83 million, making up 19% of the EU’s population. This massive market offers unparalleled opportunities for startups to tap into a robust and diverse consumer base​.

🌟 Innovation and Startup Growth
Germany’s startup scene is thriving. In 2021, German startups secured nearly €17.4 billion in venture capital, with a strong focus on sustainability-driven initiatives. Another key factor? Germany’s highly developed infrastructure and strong support for innovation. Germany is home to many companies that are global leaders in the development of new technologies. For over a century, the phrase “Made in Germany” has epitomized both innovation and exceptional product quality.

🌟 Access to Skilled Workforce and Tech
Germany is renowned for its skilled labor force, particularly in tech and manufacturing, making it ideal for startups needing advanced tech expertise. Plus, the country’s emphasis on future technologies and digitalization makes it a great match for startups looking to innovate​.

🌟 Pro Tip for Baltic Startups: Leverage Germany’s extensive network of SMEs, to establish partnerships and gain local traction. Many of these SMEs are world market leaders in their respective niche segments. Together with internationally leading companies – such as Bayer, BASF, Daimler, Volkswagen, and Siemens to name but a few – they make up Germany’s manufacturing industrial base. Plus: The country also offers various government incentives and investment support programs to encourage foreign startups​

Ready to take your business to Germany? Join us in the BSR Go-abroad program and make your international vision come to life 👉 https://lnkd.in/ddWihJ27

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