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Number of New Start-Ups in Germany on the Rise

17 percent more fledgling companies were founded in Europe’s largest economy in the first quarter of 2024 than in the previous one.

Online platform Startupdetektor registered 658 new young companies in Q1 2024, compared with 562 in the final three months of 2023. The number of start-ups was also up year-on-year from Q1 2023, when 629 firms were founded. 

Leading the trend is the eastern German regional state of Saxony, in particular the cities of Leipzig, Dresden and Chemnitz. Saxony saw a 35 rise in the number of start-ups in 2023 compared with 2022.

“A disproportionate number of high-tech start-ups are founded in Saxony because of the density of universities and research institutes,” Eric Weber, the founder of Leipzig’s Spinlab accelerator, told business newspaper Handelsblatt.

In terms of sector, artificial intelligence is becoming ever more important. 15 percent of all newly established start-ups in Germany last year work in that area.

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