Boosting Start-up Count by Tripling Investment to 20 Million Dollars - Twenty million dollars earmarked for accelerating the growth of new businesses in the startup sector.
The Lower Saxony government has secured funding for a significant project, GOe FUTURE, which aims to boost the region's startup ecosystem and innovation in the life sciences sector. This project is one of several across Germany receiving funding as part of the national 'Startup Factories' lighthouse competition organised by the German Federal Ministry.
The GOe FUTURE project, described by Lower Saxony's Minister of Science, Falko Mohrs, as a "true lighthouse project", seeks to accelerate startup growth and establish a robust entrepreneurial landscape in the Hannover-Göttingen-Braunschweig area. The project has been awarded up to 10 million euros in funding, with 5 million euros coming from private capital and another 5 million from the federal government.
The Life Science Valley company, founded by the University Medical Center and Sartorius, will play a central role in the GOe FUTURE project. This company, which was already established in 2021, will now be at the heart of the funding initiative. The universities involved include Göttingen and Hannover, the Medical School Hannover, as well as several Max Planck, Fraunhofer, Helmholtz, and Leibniz institutes.
The goal of the project is to promote the transfer of scientific knowledge for the benefit of patients worldwide. By fostering partnerships between universities and companies, the project aims to make the Hannover-Göttingen-Braunschweig region a global leader in life sciences.
Notably, the number of annual spin-offs in the life sciences field is expected to exceed 100 within the next five years. This significant increase in startup foundations is a testament to the project's potential impact on the region's economy and global standing in the life sciences sector.
The GOe FUTURE project is not the only one receiving federal funding in Germany for projects related to life sciences. Other locations, such as Berlin/Brandenburg and Frankfurt am Main, are also receiving funding for similar projects. This national initiative underscores the German government's commitment to fostering innovation and entrepreneurship in the life sciences sector across the country.
[1] For more detailed information about the project’s structure or specific programs within GOe FUTURE beyond the funding announcement, please refer to future updates and official project communications.
The GOe FUTURE project, with its focus on life sciences, aims to incorporate aspects of science, technology, education-and-self-development within its initiatives, as evidenced by the universities and research institutes involved. The project's aim to promote the transfer of scientific knowledge aligns with its objective of fostering employment opportunities in the region, as it seeks to exceed 100 annual spin-offs in the life sciences field over the next five years.
