Start-ups in Saxony and Thuringia set to double

The new start-up initiative "boOst Startup Factory" from Saxony and Thuringia is to be supported with several million euros as part of a nationwide funding program. The consortium is one of the ten winners of the "Start-up Factories" lighthouse competition organized by the Federal Ministry of Economics, as announced by the Saxon Ministry of Economics. The funding comprises up to ten million euros from federal funds, which are to be supplemented by at least the same amount from industry.

The aim of the initiative is to double the number of knowledge-based start-ups in Saxony and Thuringia from around 100 to 200 per year by 2030 - at least 50 of which will focus on so-called deep tech areas such as semiconductor technology, photonics or medical technology.

A network with scientific clout

The project is coordinated by the Technical University of Dresden and the University of Leipzig. Eight other universities in Saxony and Thuringia are also involved, as well as numerous partners from industry, including Infineon, Bosch, Zeiss, X-Fab and Volkswagen.

"The successful application of the Saxon-Thuringian network "boOst" is another booster for Central Germany and the entire business location East," said Saxony's Minister of Economic Affairs Dirk Panter (SPD). The initiative brings together the various innovation ecosystems such as microelectronics, medical technology, optics and photonics and thus sets a new start-up dynamic in motion.

Start-up culture with international aspirations

The Dresden-based Start-up Factory aims to give founders better access to capital, industry partners and infrastructure. Managing Director Marco Weicholdt announced his intention to establish a new start-up culture in eastern Germany. The aim is to "build start-ups that stand out in international competition and keep value creation in the region in the long term".

Implementation of the initiative is set to begin on October 1.