, according to PitchBook data from December 2021. That still pales in comparison to the 510 in the US, 176 in China, and even the 31 in the UK, though the number of German unicorns doubled since last year.
Germany’s benchmark DAX stock index also added several big tech companies this year including online retail clone Zalando SE and meal-kit provider HelloFresh SE, both of which were backed by serial German tech incubators the Samwer brothers. For all the criticism, the government hasn’t been entirely idle. In June 2020, Merkel and then-Finance Minister Scholz presented a 130 billion-euro pandemic stimulus package that gave Berlin powers to seed industries like artificial intelligence, quantum computing and hydrogen technologies. Scholz may yet reap the benefits, much as Merkel profited from her predecessor’s welfare and labour reforms.
Back in Bavaria, Karlheinz Brandenburg and his small team are working away on virtual sound sources at his latest start-up, Brandenburg Labs. “Yes there are problems,” he said of the outlook for innovation. “But I’m also very hopeful when I see these bright young people.” He tells them unicorn status is just about the corner.
Source: News Formal (newsformal.com)
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