Saxony: Around 35 million euros for start-ups in Saxony

Dresden (dpa/sn) - Business start-ups will be supported in Saxony with around 35 million euros over the next five years.

Saxony: Around 35 million euros for start-ups in Saxony

Dresden (dpa/sn) - Business start-ups will be supported in Saxony with around 35 million euros over the next five years. Around nine million euros are available for start-up advice until 2027, around 15.8 million euros for the technology start-up grant and around 10.5 million euros for start-up initiatives, as the Ministry of Economic Affairs announced on Wednesday. The funds come from the European Social Fund Plus and co-financing from the state.

Economics Minister Martin Dulig announced that the funding would strengthen the Saxon start-up scene. "Especially now - in times of a pandemic, energy crisis and fragile supply chains - the Saxon economy needs the impetus of motivated founders," said the SPD politician.

This summer, the Ministry of Economics presented a study on Saxony as a start-up location. Accordingly, start-ups are drawn to the big cities. According to the study, since 2011 almost 72 percent of business start-ups have been in Leipzig, Chemnitz and Dresden and 28 percent in rural areas. Of the 1,200 young companies that were entered in the commercial register between 2011 and 2019, 860 still existed in 2021.

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