Daily Management Review

Germany to allocate half a billion EUR for innovation in small business


Young and small companies will receive special support from the state in Germany. Subsidies volume can reach up to €2.3 million.

The German Ministry of Economics has developed a program to support small and medium businesses in matters of innovation. This was announced by the media group Funke with reference to the document.

Within the framework of this program, €555 million can be allocated to entrepreneurs only in 2020, said German Minister of Economics Peter Altmaier to the media.

A business can count on subsidies of up to €2.3 million; previously this amount was €2 million. “At the same time, we especially support innovative young and small enterprises and accelerate the exchange of knowledge,” Altmaier emphasized. Improved conditions will be provided to enterprises from structurally weak regions, the minister said.

The international rating agency Fitch retained the "AAA" rating for Germany, calling the country's economy stable.

source: dw.de