German Companies Benefit from Startup Collaborations

German companies that engage in collaborations with tech startups are reporting positive outcomes from their partnerships. Tech startups have fresh ideas and mostly rely on innovative technologies - medium-sized companies or global players have a deep insight into the market and a large customer base – so both sides can benefit from each other through cooperation. 8 out of 10 tech startups (83 %) collaborate with established companies. 60 % jointly develop products or services, and 21 % established companies have a financial stake in the startup. Only 14 % report that they don't collaborate at all. The majority (53 %) of startups that collaborate with established companies report that they have gained new customers and open markets as a result.

These are findings based on a survey of 203 tech startups carried out on behalf of the German digital association Bitkom e.V. this summer.

"Germany has the potential to become a leader in the digital economy. To achieve this, we need to pool our strengths much better than before. If our world-leading SMEs and companies in traditional industries cooperate closely with the numerous German tech startups, everyone will be a winner," commented Bitkom President Ralf Wintergerst.

Bitkom e. V. (formerly the German Association for Information Technology, Telecommunications and New Media) is the industry association for the German information and telecommunications sector. It promotes a strategic ICT policy that encompasses policy levels from the EU to the federal and state governments to local authorities.

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