One in four German startups could leave over lack of capital, poll finds
Some 26 per cent of participants in a study by digital business association Bitkom said they were thinking about leaving, and only 23 per cent were of the opinion that there was sufficient venture capital in Germany.
The vast majority of the 152 tech startups surveyed, 81 per cent, said investors were showing more restraint due to the economic situation.
Nonetheless, Bitkom said 79 per cent of companies were either confident or very confident that they would achieve their financing goals, with startups requiring an average of 2.5 million euros ($2.92 million) annually in fresh venture capital.
($1 = 0.8548 euros)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNA
20 minutes ago
- CNA
US, China resume talks in Stockholm to ease tariff hostilities
STOCKHOLM: US and Chinese officials began a second day of talks in Stockholm on Tuesday (Jul 29) to resolve longstanding economic disputes and step back from an escalating trade war between the world's two biggest economies. The meetings may not yield immediate large breakthroughs but the two sides could agree to another 90-day extension of a tariff truce struck in mid-May. It may also pave the way for a potential meeting between US President Donald Trump and Chinese President Xi Jinping later in the year, though Trump on Tuesday denied going out of his way to seek one. The delegations met for more than five hours on Monday at Rosenbad, the Swedish prime minister's office in central Stockholm. US Treasury Secretary Scott Bessent was seen arriving at Rosenbad on Tuesday morning after a separate meeting with Swedish Prime Minister Ulf Kristersson. China's Vice Premier He Lifeng also arrived at the venue. Neither side made statements after the first day of talks. China is facing an Aug 12 deadline to reach a durable tariff agreement with Trump's administration, after reaching preliminary deals in May and June to end weeks of escalating tit-for-tat tariffs and a cut-off of rare earth minerals. Without an agreement, global supply chains could face renewed turmoil from US duties snapping back to triple-digit levels that would amount to a bilateral trade embargo. The Stockholm talks follow Trump's biggest trade deal yet with the European Union on Sunday for a 15 per cent tariff on most EU goods exports to the United States, and a deal with Japan. The Financial Times reported on Monday that the United States had paused curbs on tech exports to China to avoid disrupting trade talks with Beijing and support Trump's efforts to secure a meeting with Xi this year. Trump pushed back against suggestions he was seeking a meeting with Xi. "This is not correct, I am not SEEKING anything! I may go to China, but it would only be at the invitation of President Xi, which has been extended. Otherwise, no interest!" he wrote on Truth Social. COMPLEX TALKS Meanwhile, in Washington, US senators from both major parties plan to introduce bills this week targeting China over its treatment of minority groups, dissidents, and Taiwan, emphasising security and human rights, which could complicate the talks in Stockholm. Taiwan President Lai Ching-te is also set to delay an August trip his team had floated to the Trump administration that would have included stops in the United States, sources familiar with the matter told Reuters on Monday. The potential visit would have infuriated Beijing, possibly derailing the trade talks. China claims Taiwan as its own territory, a position Taiwan rejects, and denounces any show of support for Taipei from Washington. Previous US-China trade talks in Geneva and London in May and June focused on bringing US and Chinese retaliatory tariffs down from triple-digit levels and restoring the flow of rare earth minerals halted by China and Nvidia's H20 AI chips, and other goods halted by the United States. Among broader economic issues, Washington complains that China's state-led, export-driven model is flooding world markets with cheap goods, while Beijing says US national security export controls on tech goods seek to stunt Chinese growth. Bessent has already flagged a deadline extension and has said he wants China to rebalance its economy away from exports to more domestic consumption - a decades-long goal for US policymakers.
CNA
20 minutes ago
- CNA
Spotify forecasts profit below estimates on higher taxes, shares sink
Spotify forecast third-quarter profit below Street estimates on Tuesday as higher taxes related to employee salaries outweigh upbeat demand for its premium music-streaming plans. The company's shares, which have risen around 57 per cent so far this year, fell nearly 9 per cent in premarket trading. Investors are closely monitoring the Swedish company's profitability after price hikes, cost cuts and subscriber gains in recent years helped it achieve its first annual profit in 2024. Spotify said it expects operating income of 485 million euros ($561.05 million) in the current quarter, below an estimate of 562 million euros, according to data compiled by LSEG. Its third-quarter monthly active users (MAU) forecast of 710 million was in line with estimates, while its prediction for a 5 million increase in premium subscribers to 281 million was above a Visible Alpha estimate of 279 million. Its board has approved a $1 billion increase to its share repurchase program, raising the total authorization to $2 billion, with $1.9 billion available for buybacks through April 2026. Tough competition in music streaming and podcasts from rivals from Apple and Amazon has also prompted Spotify to increase marketing, which contributed to an 8 per cent increase in operating expenses in the April-to-June quarter. Premium subscribers rose 12 per cent to 276 million in the second quarter, compared with a Visible Alpha estimate of 273 million. Its MAU net additions of 18 million brought the total to 696 million, exceeding expectations. Second-quarter revenue rose 10 per cent to 4.19 billion euros ($4.85 billion), but fell short of an estimate of 4.26 billion euros. Spotify said unfavorable currency movements reduced year-over-year total revenue growth by about 440 basis points in the reported quarter. It forecast third-quarter revenue of 4.2 billion euros, below the estimate of 4.48 billion euros. ($1 = 0.8645 euros)
CNA
20 minutes ago
- CNA
Spain's watchdog expands probe into Apple over App Store pricing
MADRID :Spain's antitrust regulator said on Tuesday it was expanding its investigation into possible anti-competitive behaviour by Apple for allegedly imposing unequal commercial conditions on developers of mobile applications sold at its app marketplace. The wider probe will examine whether the tech giant set pricing schedules at its App Store, abusing its dominant position, the CNMC said in a statement. Apple has denied the allegations since the CNMC launched its investigation a year ago.
