The Stuttgart Region is considerably more attractive for start-ups than often assumed. This is the finding from a survey carried out by auditing and advisory firm PwC at 450 young companies across Germany, including 50 from Baden-Württemberg’s capital city region.
94 of the companies surveyed rate the local start-up ecosystem as good or very good – on a national level, on average just 86 percent of start-ups rate their location so positively. Two-thirds of Stuttgart-based start-ups expect to increase revenue this year, and 70 percent want to hire additional staff. 84 percent of Stuttgart-based start-ups also believe that their region will gain in significance as a start-up location in the coming years. This is due among other things to the strong economic power and the wide range of assistance measures in the region.
In general, Stuttgart’s start-ups rate the hard location factors consistently better than the soft factors. For example, 46 percent praise the digital infrastructure, but only 24 percent praise the general start-up culture. Only 16 percent believe that there are enough start-up competitions and similar initiatives. 72 percent of Stuttgart-based start-ups describe the search for suitable employees as difficult or very difficult. This puts the region ahead of the national average of 68 percent.
International start-ups from the field of mobility are welcome at Startup Autobahn in Stuttgart. The programme is a cooperation between high-profile companies such as Daimler and Porsche, US investor Plug and Play and the University of Stuttgart. Startup Autobahn supports young companies by offering them space, equipment, employees and funding opportunities.
Start-ups in the region can also get assistance from Wirtschaftsförderung Region Stuttgart GmbH (WRS). Together with partners, WRS offers start-ups various industry-related services and access to networks and helps them to find industrial spaces. It organises and supports initiatives for start-ups such as the partner network for start-ups from Stuttgart third-level institutions (PUSH!), Stuttgart Region High-Tech Enterprises (HiTURS), Inventio and Stuttgart Region Business Angels.