sonderzahlungen an mitarbeiterim deutschen mittelstand · doctolib* march berlin friday march...

Start-up-Barometer Germany

July 2019

Design of the Study


Berlin130Nord Rhine-Westphalia42

Bavaria50

Mecklenburg-

Vorpommern24

Baden-Württemberg 24

Hesse 15

Lower Saxony & Bremen 9

Sachsen9Rhineland-Palatinate4

Schleswig-Holstein 3

Brandenburg7

► The EY Start-up-Barometer

Germany is being issued since

2014, effective 2015 twice per

year

► Sources: Press releases of

Start-ups or Investors, Press

reporting, CB Insights

Number of start-ups that received financing in the first half

of 2019, by state

Peter Lennartz

Ernst & Young GmbH

Head EY Start-up-Initiative

GSA

Friedrichstraße 140

10117 Berlin

Phone +49 30 25471 20631

[email protected]

Hamburg 1

Saxony-Anhalt3

Saarland 1

Thuringia

3

248264

279

332

1. HY2016

1. HY2017

1. HY2018

1. HY2019

972

2.5852.479

2.808

1. HY2016

1. HY2017

1. HY2018

1. HY2019

2019: Volume and number of deals increase significantly

Start-up financing in Germany,

2016 to 2019

First half of each year; number and value of

financing rounds in Germany

► Throughout Germany, the number of

financing rounds rose significantly in the first

half of 2019 compared with the same period

last year: by 19 percent to 332.

► The total value of these investments rose by

a good 13 percent, or 329 million euros, year-

on-year to around 2.8 billion euros, thus

surpassing the previous record of the first

half of 2017.

Number

Volume

in million euros


+13%+19%

And: deal volume also reaches a new half-year high of 2.8 billion euros

Start-up financing in Germany;

2015 to 2019

Number and value of financing rounds per

half-year

► There has never been a half-year in which as

much has been invested in German start-ups

as in the first half of 2019. At a good 2.8

billion euros, the financing volume exceeded

the previous record figure of the first half of

2017 by 223 million euros or almost nine

percent.

► The number of deals also remained at a high

level with 332 financing rounds and was only

slightly below the record figure of 342 deals

in the second half of the previous year.

Number and Volumes (in million euros)

2.082

1.224

972

1.304

2.585

1.691

2.479

2.112

2.808

157

262 248 237264

243279

342 332

1. HY2015

2. HY2015

1. HY2016

2. HY2016

1. HY2017

2. HY2017

1. HY2018

2. HY2018

1. HY2019

Volume (in million euros) Number


131

52

42

25

25

15

9

8

7

18

126

46

30

18

16

18

6

2

2

15

Berlin

Bavaria

North Rhine-Westphalia

Hamburg

Baden-Württemberg

Hesse

Saxony

Brandenburg

Lower Saxony

Other

Berlin still well ahead of Bavaria and North Rhine-Westphalia in number of deals

Start-up financing in Germany

2019 and 2018

First half of each year; number of financing

rounds by state

► Berlin will remain the hotspot of the German

start-up scene in 2019: a good 40 percent of

all financing rounds recorded here in

Germany were accounted for by start-ups in

the German capital.

► Start-ups from Bavaria achieved 52 financing

rounds in the first half of 2019, followed by

start-ups from North Rhine-Westphalia, which

recorded 42 deals.

► All top 5 states recorded an increase in

financing rounds in the first half of 2019.

20182019


2.141

204

150

133

81

29

21

12

12

9

15

1.667

355

46

130

116

21

103

13

0

7

20

Berlin

Bavaria

Baden-Württemberg


Hamburg

Saxony

Hesse

Rhineland-Palatinate

Saxony-Anhalt

Brandenburg

Other

Berlin start-ups receive three quarters of the total investment volume


2019 and 2018

► In the first half of 2019, Berlin start-ups

received 76 percent of the total risk capital

invested in German start-ups. In 2018 as a

whole, the share was still 57 percent.

► Bavaria, with a market share of a good seven

percent, ranks second ahead of Baden-

Württemberg, which achieved a market share

of a good five percent in the first half of 2019.


20182019

First half of each year; financing amounts per

state (in million euros)

32

46

64

10

74

75

80

28

54

1.046

58

386

130

396

13

6

23

26

27

37

44

79

89

207

208

303

385

659

704

Other

Education

Media & Entertainment

Hardware

Recruitment

Professional Services

Energy

PropTech

AgTech

AdTech

e-commerce

Health

Software & Analytics

Mobility

FinTech / InsurTech

Industries: Most of the investment capital is invested in the FinTech/InsurTech and Mobility sectors.


2019 and 2018

► Most of the money, 704 million euros, was

invested in the FinTech/InsurTech sector in

the first half of 2019, closely followed by the

mobility sector, where 659 million euros

flowed into. Both sectors received

significantly more investment capital than in

the same period last year. The Health

segment also made substantial gains.

► By contrast, the leader of previous years, e-

commerce, recorded a sharp decline in

investment capital: from more than one billion

euros to just 208 million euros.

20182019


First half of each year; financing totals per

sector (in million euros)

0

2

8

12

10

14

7

9

8

14

15

28

28

49

75

6

3

5

5

6

8

9

10

12

16

26

30

47

49

100

Other

AgTech

Education

AdTech

Hardware

Media & Entertainment

Recruitment

Professional Services

Energy

PropTech

Mobility

FinTech / InsurTech

Health

e-commerce

Software & Analytics

Most financing rounds again in the Software & Analytics segment


2019 and 2018

► As in the previous year, the Software &

Analytics division accounted for the largest

number of financing rounds in 2019:

Compared with the first half of 2018, the

number of financing rounds even increased

significantly once again - despite the sharp

decline in the financing volume. This

segment includes SaaS, Artificial Intelligence,

Virtual Reality, Blockchain, Cloud, Cyber

Security and Data Analytics start-ups with

new technologies.

► The e-commerce segment ranks second,

followed by the health segment.


20182019

First half of each year; number of financing

rounds by sector

264

197

30

34

28

39

2019, HY12018, HY1

Significantly more small and very large financings


By size class, number of financing rounds in

the specified size class

► The number of small deals (up to 5 million

euros) rose by a third year-on-year from 197

to 264, and the number of large deals by 133

percent from 3 to 7.

► On the other hand, the number of medium-

sized financings in the range of 5.1 to 100

million euros fell from 79 to 61 deals.

33


331

279

>100 million euros50,1 to 100 million euros

5,1 to 10 million euros≤ 5 million euros 10,1 to 50 million euros

7

6

Company Month Financing amount in million euros State

GetYourGuide May Berlin

N26 January Berlin

Adjust June Berlin

Doctolib* March Berlin

Friday March Berlin

428

266

201

150

114

GetYourGuide with the largest financing round

Top 5 financings in Germany in the first half of 2019


* Doctolib is a French-German company based in Paris and Berlin.

Focus on sectors and states

1 (1)

2 (1)

7 (7)

8 (4)

34 (4)

43 (1)

102 (3)

225 (2)

267 (5)

Savings

Blockchain

Lending

Payments

Trading

Crowdfunding

Saving

Insurance

Banking

FinTech/Insurtech: Banking attracts most investment capital - before Insurance

Venture capital investments in

FinTech; 1st half of 2019

Financing totals per sub-sector (in million

euros); in brackets: Amount of financing

rounds

► In FinTech, the Banking segment recorded

the largest inflow of investment capital,

followed by Insurance.

► In the Banking segment, however, a single

deal was responsible for almost the entire

financing volume (N26 with 266 million

euros), in the Insurance segment two deals

(Friday, Wefox) combined the entire sum.

► Most of the deals were in the lending

segment.


0 (1)

2 (3)

3 (4)

6 (1)

48 (6)

631 (14)


Baden-Württemberg

Hesse

Bavaria

Hamburg

Berlin

FinTech/InsurTech: Berlin still the hotspot -Hamburg left behind in second place


FinTech; 1st half of 2019

Financing totals per state (in million euros); in

brackets: Amount of financing rounds

► In the FinTech/InsurTech area, Berlin start-

ups received by far the most money in the

first half of 2019: in 14 financing rounds, a

total of 631 million euros in fresh capital

flowed to capital city start-ups.

► Hamburg follows with a clear lead, whose

FinTech/InsurTech start-ups collected 48

million euros in six financing rounds.


1 (1)

1 (1)

41 (5)

63 (3)

82 (12)

471 (4)

Aviation

IoT

Automotive

Scooter

Logistics

Travel & Leisure

Mobility: Travel & Leisure far ahead of Logistics, Scooter and Automotive


Mobility in Germany; 1st half of

2019

Financing totals per sub-sector in Germany

(in million euros); in brackets: Amount of

financing rounds

► In the Mobility segment, 72 percent of the

total invested capital was accounted for by

the Travel & Leisure sub-sector, which also

recorded the top deal of the first half of the

year with 428 million euros (GetYourGuide).

► Second place went to Logistics, which

accounted for the largest number of financing

rounds with 12 deals.

► For the first time, the Scooter sub-sector

received more investment capital than the

Automotive sector in the first half of the year.


0 (2)

1 (1)

1 (1)

8 (4)

26 (3)

622 (15)

Hesse

Saxony


Hamburg

Bavaria

Berlin

Mobility: 94 percent of investment capital goes to Berlin start-ups


Mobility in Germany; 1st half of

2019



► Berlin start-ups received 622 million euros in

15 financing rounds in the first half of 2019,

representing 94 percent of the risk capital

invested in Germany in the Mobility segment

in the first half of 2019.

► Bavarian start-ups in second place achieved

a market share of around four percent in

three financing rounds with 26 million euros.


1 (1)

2 (2)

3 (4)

8 (2)

8 (5)

15 (6)

76 (9)

273 (58)

IoT

Virtual Reality

Augmented Reality

Cloud

Blockchain

Data Analytics

Artificial Intelligence

SaaS (Software as a Service)

Software & Analytics:Software as a Service ahead of AI


Software & Analytics;1st HY

2019



financing rounds

► Within the Software & Analytics segment, the

Software as a Service segment recorded by

far the highest number of deals, the highest

investment volume and also the top deal

within the sector (Powercloud,100 million

euros) in the first half of 2019 with 58 deals

and 273 million euros.

► Second place is taken by Artificial

Intelligence, which has nine deals and 76

million euros.


0 (1)

1 (2)

1 (1)

1 (2)

2 (1)

3 (3)

3 (5)

11 (2)

12 (5)

23 (18)

82 (19)

105 (8)

142 (33)

Thuringia

Lower Saxony

Schleswig-Holstein

Saxony

Saarland

Brandenburg

Hamburg

Saxony-Anhalt

Hesse

North Rhine-…

Bavaria

Baden-Württemberg

Berlin

Software & Analytics: Berlin start-ups with competition from the South/Southwest region



2019



► Berlin start-ups also recorded the highest

inflow of investment capital and the highest

number of financing rounds in the Software &

Analytics segment in the first half of 2019.

► However, the German states of Baden-

Württemberg, whose start-ups were able to

raise as much as 105 million euros in

investment capital, and Bavaria, whose start-

ups generated a financing volume of 82

million euros, followed closely behind.


1 (3)

3 (3)

18 (5)

33 (14)

40 (3)

42 (11)

167 (8)

Fitness

Care

Cannabis

BioTech

Life Science

MedTech

Digital Health

Health: Digital Health ahead of MedTech and Life Science



2019



financing rounds

► Within the Health segment, the Digital Health

segment recorded the highest investment

volume and the top deal in the first half of

2019 at 167 million euros (Doctolib, 150

million euros).

► Most of the financing rounds were counted in

the BioTech sub-sector.

► In the still young cannabis sub-sector, five

deals were recorded with a financing volume

of around 18 million euros.


1 (1)

1 (1)

1 (1)

1 (1)

1 (1)

1 (1)

1 (2)

2 (3)

2 (2)

2 (1)

11 (5)

12 (1)

33 (6)

59 (7)

178 (14)

Hamburg

Lower Saxony

Mecklenbug-Vorpommern

Saxony-Anhalt

Bremen

Schleswig-Holstein

Saxony

Brandenburg

Hesse

Thuringia

Baden-Württemberg

Rhineland Palatinate


Bavaria

Berlin

Health: Berlin start-ups receive the most - wide regional distribution of start-ups



2019



► In the health sector, Berlin start-ups also

received by far the highest inflow of

investment capital in the first half of 2019, at

178 million euros, and recorded the highest

number of deals.

► However, start-ups in Bavaria, North Rhine-

Westphalia, Rhineland-Palatinate and Baden-

Württemberg also received double-digit

million sums. With the exception of Saarland,

financing rounds were also counted in all

states.


27 (11)

0 (1)

1 (2)

1 (2)

1 (1)

1 (1)

2 (4)

7 (3)

11 (2)

20 (1)

136 (21)

Other

Sport

Watches

Fashion

Furniture

Pets

Services

Automotive

General Store

Technology

Food

E-Commerce: Food receives the most investment capital

Venture capital investments in e-

commerce;1st half of 2019



financing rounds

► In the e-commerce segment, most of the

money flowed into food start-ups in the first

half of 2019: 136 million euros were invested

in 21 financing rounds. The two top deals in

e-commerce (Flaschenpost, MarleySpoon)

alone accounted for 77 million euros.

► Second place went to the Technology sub-

sector, in which only one deal was recorded

(Grover).


0 (1)

0 (1)

0 (1)

0 (1)

1 (1)

1 (3)

5 (2)

5 (1)

6 (3)

17 (9)

61 (8)

111 (18)

Rhineland Palatinate

Thuringia

Hamburg

Schleswig-Holstein

Saxony

Lower Saxony

Brandenburg

Bremen

Baden-Württemberg

Bavaria


Berlin

E-Commerce: More than half of the investment capital goes to Berlin start-ups

Venture capital investments in e-

commerce;1st half of 2019




► Berlin again recorded the highest number of

deals and the highest financing volume in the

e-commerce sector in the first half of 2019: at

111 million euros, around 54 percent of the

total 208 million euros invested in e-

commerce went to capital city start-ups.

► In addition to Berlin, only the start-up scene

in North Rhine-Westphalia achieved a

double-digit market share of around 30

percent.

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