Federal Minister for Economic Affairs and Energy Brigitte Zypries visited on 16 February. Together with Darmstadt, Frankfurt is one of 12 hubs which make up the Federal Ministry for Economic Affairs and Energy’s .
Minister Zypries said: “Innovations mostly happen where companies, scientists and entrepreneurs work closely together and share ideas. That is the concept behind our Digital Hub Initiative. I am delighted that this is working so well here in Frankfurt, our international financial centre, and that TechQuartier has become a recognised contact point for fintechs and business partners. TechQuartier is complemented effectively by the issue of cyber security, which is featured prominently in Darmstadt. Together, the hubs are building a network which stands for digital Germany and which is moving our country forward into the digital world.”
TechQuartier was founded in Frankfurt in 2016 and has quickly become established as a platform for innovation and a driving force for the region’s start-up ecosystem. TechQuartier now has more than 90 start-ups and numerous partners from the financial sector, thus unleashing key synergies for different sectors and disciplines.
Fintech is one of the most dynamic start-up sectors in Germany. Banks are increasingly responding to this development by working together with fintechs; at present, around 87% of the banks are cooperating with fintechs.
The idea of close cooperation between the established business community and young start-ups and talents also forms the basis of the Digital Hub Initiative of the Federal Ministry for Economic Affairs and Energy. 12 Digital Hubs (Frankfurt/Darmstadt, Munich, Dortmund, Berlin, Hamburg, Cologne, Mannheim/Ludwigshafen, Stuttgart, Karlsruhe, Potsdam, Dresden/Leipzig, Nuremberg/Erlangen) are focusing on generating digital innovations in specific sectors. The aim of the Ministry’s Digital Hub Initiative is to help Germany establish itself as a leading centre for the digital industry.