Corona aid for Berlin start-ups started

Corona aid for Berlin start-ups started

Start-ups in Berlin have been able to apply for state aid in the corona crisis since Wednesday (29 July 2020). 140 million euros are available for young companies and small and medium-sized enterprises that have run into a financing bottleneck through no fault of their own, according to the Investitionsbank Berlin.

  • Banknotes© dpa
    Numerous banknotes of 10, 20 and 50 euros lie on a table.
  • Investitionsbank Berlin (1)© dpa
    27.07.2020, Berlin: The Investitionsbank Berlin logo is on the headquarters.
The company is confident that up to 150 Berlin start-ups will be stabilized and kept on a growth course. The companies can apply for up to 800,000 euros through equity investments and convertible loans, if they can raise 20 percent private funds. The federal government bears about 70 percent of the risk, Berlin 30 percent.
This aid is vital for the survival of many companies in the city, according to the Federal Association of German Start-ups. "In recent years, start-ups have made a significant contribution to Berlin's growth course and created tens of thousands of future-oriented jobs in the capital," said Managing Director Christoph Stresing.

Source: dpa

| Last edited: Thursday, 30. July 2020 08:37 Uhr

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