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Germany implemented 45% of its startup strategy measures - ministry

BERLIN (Reuters) - The German government has implemented 45% of its planned measures to promote startups included in the startup strategy approved in July 2022, according to its review by the economics ministry published on Tuesday.

Apart from those already implemented, there are concrete and substantial preparations for about half of the measures, while 4% have not yet been properly addressed, said the government's startup commissioner, Anna Christmann.

Christmann added that startups are central to the renewal of the economy. In Germany, those companies were valued at $168 billion in total in 2022, or 4.7% of the country's economic output.

This puts Germany in fourth place internationally behind the United States, Britain and France, the government said.

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There are currently 31 so-called unicorns in Germany, startups with a company valuation of at least one billion dollars.

Germany's Startup Association said the government had already initiated important measures to foster startups with the Future of Financing Act and the Skilled Immigration Act, which makes it easier to attract top talent to Germany.

"What matters now is implementation: Visa processes must be digitalised, harmonised and accelerated," said the head of the startup association, Christian Miele.

The Future Financing Act includes proposals to simplify listing and post-listing requirements for startups and to digitalise capital markets. It also wants to increase the tax allowance for employee share ownership to 5,000 euros from 1,440 euros.

The startup commissioner also highlighted progress in the area of financing. For example, the public-run deep-tech and climate fund (DTCF) has begun to invest in startups and has collected around 500 million euros ($537.05 million) from investors.

($1 = 0.9310 euros)

(Reporting by Christian Kraemer; Writing by Maria Martinez; Editing by Tomasz Janowski)