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Bavaria's Minister of Economic Affairs Ilse Aigner takes stock of 20 years Munich Businessplan Competitions

Aigner: “Bavaria is to become the number one state for startups”

MUNICH   In today's celebration of the Businessplan Competitions' 20th anniversary Bavaria's Minister of Economic Affairs Ilse Aigner has emphasised the competitions achievements: "The Businessplan Competitions are a huge success. 1,600 companies all across Bavaria have emerged from these competitions, 11,400 jobs have been created and 1 billion euro revenue is generated every year", says Ilse Aigner, Bavaria's Minister of Economic Affairs.

Aigner also emphasises that a good business plan on its own is not enough. “We also support startups with finding suitable investors and the right type of funding. Through the BayStartUp network, startups can establish contacts with roughly 100 institutional investors and 200 business angels. In doing so, we can broker between 20 million and 30 million seed and growth capital."

Aigner also announced that further measures were planned to support founders. “We will set about matching established and new businesses to broker further investments. Internationalisation is also becoming increasingly important. I will explore foreign markets for Bavarian startups. And I will promote Bavaria as a business location at international startups. This is how we turn Bavaria into the number one state for startups.”

“Lfa Förderbank Bavaria has been the main sponsor of the Munich Businessplan Competitions. Furthermore, we support the competition as jury members and as coaches at seminars. Just how dedicated we are to supporting startups becomes obvious when looking at the fact that with the help of our loans 1,000 founders were able to start their own business,” says Dr. Otto Beierl, Chairman of the Management Board of the Lfa Förderbank Bayern.

Dr. Carsten Rudolph, Manager of BayStartUP: “The businesses that have emerged from the Munich Businessplan Competition illustrate the strength of Bavaria's startup scene: They offer a wide variety of high-tech products and business models that are geared towards fast economic growth. A number of IT, Life Science and Tech startups from previous competitions have already been able to achieve successful exits and the founders have either started new businesses or have become investors themselves. Throughout the last years the digitalisation has become an issue in all sectors, here startups have a lot to offer to big businesses.”

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Jürgen Marks Official Spokesperson and head of the press office – Bavarian Ministry of Economic Affairs, Regional Development and Energy telephone: +49 89 2162-2290 Prinzregentenstr. 28  80538 Munich