Financing program InnoFinTech to continue until the year 2025's end
The city of Hamburg is gearing up to boost its financial services sector, with the imminent launch of the Hamburg Finance Cluster as part of the "Masterplan Hamburger Finanzwirtschaft". This masterplan, adopted in the fall of 2021, aims to foster innovation in Fintech, Proptech, and Insurtech.
One of the key initiatives driving this innovation is the InnoFinTech Funding Program, which was launched in March 2022 and will continue until the end of 2025. Since its inception, the program has provided support to 19 young companies, with a total volume of almost 9 million euros.
Each year, 2.1 million euros are allocated for startups through the InnoFinTech program. Eligible startups include Fintechs, Proptechs, and Insurtechs, and they can receive up to 200,000 euros in funding. The program has been extended to 2023, ensuring continued support for these innovative young companies.
The InnoFinTech Funding Program is not the only initiative in Hamburg supporting tech startups. In 2022, a Startup Unit brought three Hamburg Proptechs to Expo Real, a renowned real estate fair. This demonstrates Hamburg's commitment to promoting and showcasing its thriving financial technology sector.
Hamburg's Fintech Agency, based at fintech-hamburg.com, is another testament to the city's dedication to fostering a vibrant Fintech scene. The agency provides resources, networking opportunities, and support to Fintech startups and SMEs.
The Hamburg financial services sector is eager to embrace technological advancements and is actively working to promote innovations in Fintech, Proptech, and Insurtech. The InnoFinTech Funding Program and the upcoming Hamburg Finance Cluster are significant steps in this direction, positioning Hamburg as a hub for financial technology innovation in Europe.
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