Digital start-up centres: Bavarian Ministry of Economic Affairs funds WERK1 in Munich with 22.4 million euros
MUNICH Bavaria's Ministry of Economic Affairs is funding the WERK1 digital start-up centre in Munich with a total of 22.4 million euros over the next six years. The aim is to finance the planned expansion to around 10,000 square metres under the project name WERK1.4. A total of 57 new start-up offices, 4 scale-up offices and 63 fully furnished co-living flats are to be built here. They should be ready to move into by 2023. Bavaria’s Minister of Economic Affairs Hubert Aiwanger: “Founders and their business ideas are in the best hands at WERK1. We want to build on this in the coming years. Our funding for the start-up centre in Munich’s Werksviertel is a very well made investment. I am convinced that consistent support for the start-up infrastructure is a top priority for the future of Bavaria as a business location. I am delighted about the strong ideas coming from our digital start-up centres across Bavaria.”
In addition to start-up offices, co-working spaces and a new WERK1 café, there will also be more meeting and event spaces as well as scale-up offices after the expansion. A scale-up is the next stage when a start-up is already operating successfully and establishing itself further on the market. Dr Florian Mann, Managing Director of WERK1.Bayern GmbH: “The new funding for WERK1 is a strong signal for the start-up scene and the entire high-tech location of Munich. The offer is also being expanded to include a co-living concept. By extending our range of services and doubling our space, we are offering founders even more opportunities to turn their ideas into reality. We are particularly proud of the future co-living offer. This is an absolute first for the Munich start-up scene.”
The co-living concept offers temporary housing, which is becoming increasingly popular, especially in urban conurbations. Work and life will move even closer together in the future with co-living. The fully furnished flats in WERK1.4 will have their own bathroom and a so-called pantry kitchen. In addition, communal areas invite people to cook, socialise and work together. The aim of the concept is for start-ups throughout Munich to find more national and international employees and offer them affordable accommodation for several months in an exceptional and inspiring environment.
WERK1 is one of 19 digital start-up centres funded by the Bavarian Ministry of Economic Affairs at 28 different locations in all Bavarian administrative districts.
Press number: PM 429/2