Fresh ideas are the driving force of a healthy, growth-oriented economy and at the same time a basic prerequisite for greater competitiveness. That is why I am particularly concerned to further improve the start-up opportunities for young, dynamic and imaginative entrepreneurs in our country.

Capital resources are often a key problem, especially for technology start-ups, which are particularly promising. The risk of innovative business models often does not allow for classic loan financing. It is therefore important to identify new financing options to close such funding gaps. Modern venture capitalists play a key role here: they support young companies in the start-up phase and strengthen their capital base through equity investments.

With the new High-Tech Gründerfonds II, which was launched at the end of last year, we are flanking the commitment of the private equity industry. Promising technology start-ups are thus given additional opportunities for early-stage financing. German industry is closely involved in a successful private-public partnership. It has once again significantly increased its commitment compared to previous years: The number of private investors in Gründerfonds II has even more than doubled, with 14 entrepreneurs. Thanks to this intensive cooperation, we are able to build on the successes of the Gründerfonds I, which has already helped to finance over 250 new technology companies in the past, creating more than 2,400 promising jobs.

With the introduction of the "venture capital investment grant" planned for early 2013, we will further strengthen the financing options for young companies. The target group here includes not only founders, but also and above all private investors who invest in young, innovative companies and provide them with advice and support. If the investment remains in the financed company for at least three years, private investors are reimbursed twenty percent of their investment. For the years 2013 to 2016, we will provide a total of up to 150 million euros for this purpose.

Back at the beginning of 2012, the German government also launched the "European Angels Fund" together with the European Investment Fund. With a volume of around EUR 60 million, it offers experienced business angels and other non-institutional investors the opportunity to jointly finance innovative and promising business models. Germany is the first country to test this promising approach. This puts us in a pioneering role in Europe.