Latest news with #Kurz
DW
7 days ago
- Business
- DW
How Germany can better support young entrepreneurs – DW – 07/16/2025
Benedict Kurz wants his app to provide an AI-supported tutor to a billion schoolchildren worldwide. But why doesn't Germany have more young entrepreneurs like him? "We found studying pretty impersonal and boring, and we spent a lot of time on TikTok and Instagram." German entrepreneur Benedict Kurz was just 17 when he founded Knowunity in 2019 with three friends the same age. The company wanted to change how students acquired knowledge by adopting a peer-to-peer approach: students who were really good at a particular subject would explain the material to others. These "knowers" would have their own influencer profiles and followers on the platform. Quizzes, index cards and mock exams were designed to make learning more exciting. Knowunity also developed a "study companion" based on several different AI language models. It has access to millions of "knowers," enabling it to compile individual study plans and exercises. "Our app is tailored to the students themselves, not teachers or schools," says Kurz. Personal recommendation is an essential element of the business model. According to company data, from year five on, one in three schoolchildren in Germany already use Knowunity for studying, and so do many university students. It has more than 20 million users in 17 countries. Now, the Berlin-based startup plans to expand, primarily to the US and Asia. Knowunity has raised more than €45 million ($52.3 million) in funding to do this. In the last few years, the COVID-19 pandemic and ChatGPT have turned the education sector upside down. Investors have spotted the opportunities this has created, and their investment has enabled the Berlin learning platform to grow at a startling rate. Many young people find the education system's inflexible "one size fits all" principle frustrating, but very few take this as the inspiration to start a company. What prompts someone not just to identify a problem, but to contribute to the solution actively? The IfM in Bonn, an institute that analyses the situation of small and medium-sized enterprises in Germany, and the Research Network Entrepreneurship conducted a survey that found that 40% of all 14- to 25-year-olds have some interest in starting a company. Only 11% actually do so. The number is twice as high in the Netherlands and the United States. To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video The researchers believe that, within this age group, there is potential for an additional 1.6 million startups. What holds these young people back is financial insecurity, lack of networks, lack of knowledge of business practices and limited access to capital. An experiment conducted with around 300 young adults interested in starting a company showed that basic startup security provision is the thing most likely to encourage them to take the plunge. Social security benefits and a secure income in the first year could make all the difference. Among the young adults, 24-year-olds would find this more of a motivation than 18-year-olds, women more so than men. Access to venture capital is more decisive for men. Immigrants, who tend to be less well-connected, want mentoring and help establishing networks. Support programs and further training geared to young would-be entrepreneurs come quite a long way down the list. The researchers are calling for young people with a variety of different needs to be actively involved in developing measures that would support them. Kurz knew very early on that he was going to be a businessman. At the age of 13, he was already buying and selling Chinese e-bikes online. He devoured podcasts about entrepreneurship and stories about people like Mark Zuckerberg who had built huge enterprises out of nothing. There were also role models at home: His parents, and his grandfather before them, run a small family business. "Entrepreneurship was never a topic at school," says Kurz. "My fellow students found my preferred career a bit of a joke." His best friend was the only one who shared his enthusiasm. Today, he, too, has his own company. Kurz found his partners in Knowunity at an event for people interested in starting a company. All four now work at the startup in different roles. To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Unlike Knowunity, most startups originate in an academic environment. According to the current Student Entrepreneurship Monitor of the German Startup Association, one in five students can imagine setting up their own company. Soft factors are considered the most important: They want to learn new things, see the relevance of their work, and they're prepared to work long hours for this. Here, too, there's a lot of untapped potential: an estimated 18,000 startups a year that at present simply don't get off the ground. The majority of potential entrepreneurs, and even those aiming for a traditional career in employment, would have liked to have learned more in school and at university about starting and running a business. There's not much content along these lines on the Knowunity app, either. "We're guided by the curricula," Kurz admits. He suggests that the subject ought to be presented positively within the education system. He says it doesn't always have to be Zuckerberg; there are also great regional entrepreneurs. "They should bring more of them in to give guest lectures in schools." Kurz is on the board of the Startup Association. He is also in favor of social security to cover the initial phase. "Not everyone is lucky enough to get support from their family. Lots of people have the pressure of needing to start earning money right away." Kurz also thinks universities have a responsibility to facilitate the transfer of scientific discoveries to industry and to invest in spin-off companies. Finally, he says, regional hubs are needed to take startup culture to the regions. "Outside the bubbles of Berlin or Munich, it's not really something people have on their radar," he comments. Almost no free time in five years, the abandonment of a sporting career, and the weight of responsibility for employees and investors' money are part of the package of being an entrepreneur. On the other hand, says Kurz, it's super cool to create something new, make your own decisions, and work with exciting people. And he also gets a buzz every time he's on a train and spots someone using his app.
The Hindu
10-06-2025
- Business
- The Hindu
Vietnam, India key markets to watch as tariffs likely disrupt tech market in Asia: S&P
Vietnam and India are key markets to watch outside of China as tariffs are likely disrupting the tech market in Asia, said S&P Global Ratings in a report titled ''Tariff Disruption In Asia Tech: Vietnam And India Are Key Markets To Watch Outside Of China.' ''Most companies have plans to expand production outside of China. Understanding where production is shifting to elsewhere in Asia was important to predicting the consequences of reciprocal tariffs on countries outside of China,'' said Clifford Kurz, Credit Analyst at S&P Global Ratings. For example, he observed, Vietnam and India were countries of choice for the assembly of smartphones and PCs, given their low labour costs. Tariffs on these countries could heighten the risk across the technology supply chain for these products,'' he said. While shifting supply chains would be costly, many have already diversified their production enough to offset some of the tariff risk related to China, Mr. Kurz added. Apple and its key suppliers may be the most disrupted, given their production reliance on China, however, India now accounts for nearly a fifth of all final assembly before shipment to the U.S., as per the document. 'No one knows exactly where the dust will settle on U.S. tariffs for Asia's tech-manufacturing sector. But trade barriers will very likely be the highest between the U.S. and China,'' it cautioned adding, 'The most vulnerable companies are those with the largest reliance on China's integrated technology production infrastructure and the U.S. as a major end market.' It further said, advanced chipmakers were less vulnerable, in part because such chipmakers have high bargaining power and have a growing proportion of revenue and profit from AI. AI chipmakers were also less exposed to China's chip restriction risk. 'While shifting supply chains will be costly, many have already diversified their production enough to offset some of the tariff risk related to China. Or at least enough such that the U.S. market can be supplied by non-China production,' said Mr. Kurz.
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First Post
26-05-2025
- Politics
- First Post
Austrian court overturns former Chancellor Kurz's suspended sentence, acquits him of false statements
Judges at Vienna's upper state court threw out Kurz's conviction after a short appeal hearing. The court found that 'the objective offense of giving false evidence was not fulfilled' read more A court in Vienna on Monday acquitted former Austrian Chancellor Sebastian Kurz of making false statements to a parliamentary inquiry into alleged corruption in his government, reversing a verdict from last year in which Kurz was given a suspended prison sentence. Judges at Vienna's upper state court threw out Kurz's conviction after a short appeal hearing. The court found that 'the objective offense of giving false evidence was not fulfilled.' The case centered on Kurz's testimony to an inquiry that focused on the coalition he led from 2017, when his conservative Austrian People's Party formed a coalition with the far-right Freedom Party, until its collapse in 2019. STORY CONTINUES BELOW THIS AD Prosecutors accused the 38-year-old of having given false evidence in June 2020 regarding his role in the setting up of a holding company, OeBAG, which administers the state's role in some companies, and the appointment of former close confidant Thomas Schmid to its leadership. In February 2024, Kurz was found guilty of making false statements about the appointment of the company's supervisory board, though not about that of Schmid. He was given an eight-month suspended sentence. That verdict followed a four-month trial. It was the first time in more than 30 years that a former Austrian chancellor had stood trial. 'What came out is what I have always said — namely, that I did not tell untruths to the parliamentary inquiry,' Kurz said in a brief statement to reporters outside the courtroom after Monday's decision. 'I now have a long time in (legal) proceedings behind me, and to be honest I'd like to set out my position in detail, but I ask for your understanding that I'm going home to family and my two children first," Kurz added. Judges on Monday upheld the conviction and six-month suspended sentence of Kurz's former chief of staff, Bernhard Bonelli, for making a false statement to the parliamentary inquiry about his own involvement and that of Kurz in the selection of OeBAG supervisory board members. Kurz said he deeply regrets the decision on Bonelli. STORY CONTINUES BELOW THIS AD Once a rising star among conservatives in Europe, Kurz resigned in 2021 after a separate corruption probe opened and has since left politics. His People's Party still leads the government under current Chancellor Christian Stocker, although it finished second in an election in September. Kurz rose to power with an anti-immigration platform and was only 31 when he became the leader of the People's Party and then chancellor in 2017. He pulled the plug on his first government after a video surfaced that showed the vice chancellor and Freedom Party leader at the time, Heinz-Christian Strache, appearing to offer favors to a purported Russian investor. Kurz returned to power in a new coalition with the environmentalist Greens in early 2020, but resigned in October 2021. The Greens had demanded his replacement after prosecutors announced that he was a target of a second investigation into suspected bribery and breach of trust. Kurz also denied any wrongdoing in that case. STORY CONTINUES BELOW THIS AD There has been periodic speculation about the possibility of Kurz making a political comeback.
Yahoo
26-05-2025
- Politics
- Yahoo
Austria's ex-chancellor has conviction quashed
Austria's former chancellor Sebastian Kurz has won his appeal against a conviction for giving false testimony to a parliamentary committee. The court's ruling overturns last year's judgement and eight-month suspended prison sentence for the former political star. Once hailed a wunderkind of Europe's conservatives, the 38-year-old resigned as chancellor in 2021 and quit politics amid a series of allegations. Monday's acquittal removes a key obstacle to a potential political comeback, but he still faces investigation on separate corruption allegations. Last year, Kurz was found guilty of perjury for giving false testimony to a parliamentary committee. The case against him centred over allegations that he had been involved in the selection of executives on a newly-created state holding company when he was chancellor, as opposed to being merely kept informed. Kurz told a parliamentary probe in 2020 that he was "involved in the sense of informed". But the first trial judge deemed that declaration false and ruled that Kurz had played a more active role. However in his appeal Kurz argued that the judge who had convicted him was biased. The appeal bench of three judges ruled in his favour on Monday, reading out in their judgement that Kurz "was acquitted because the objective offence of giving false evidence was not fulfilled". Speaking to reporters outside court on Monday, Kurz said the years of accusations against him had "now all collapsed". "There have been numerous court hearings - a huge amount of confrontation with these accusations. You have all witnessed how much this has been celebrated and that it has now all collapsed," he said. He has also denied wrongdoing on the corruption allegations for which he is being investigated. Prosecutors are yet to decide whether to charge him over the allegations that he used public money to pay for favourable media coverage and to fund polls which exaggerated support for him. Kurz has not publicly voiced an intention to return to politics yet. Since quitting in 2021, he has been involved in several business ventures including the high-profile Dream cybsersecurity company, which he co-founded in 2023 with partners including the former boss of Israel's NSO firm that developed the controversial Pegasus spyware product. Kurz had previously headed the conservative Austrian's People's Party, leading the party to victories in 2017 and 2019 on a hardline immigration stance. The People's Party is still in charge in Austria after it managed to form a three-party coalition with the Social Democrats and a liberal party after elections last August. However that vote was won by the far-right Freedom Party, who seized on voter frustrations on the economy and migration. Despite topping parliamentary elections for the first time, they failed to form government.
26-05-2025
- Politics
A court acquits former Austrian leader Sebastian Kurz of making false statements
VIENNA -- A court in Vienna on Monday acquitted former Austrian Chancellor Sebastian Kurz of making false statements to a parliamentary inquiry into alleged corruption in his government, reversing a verdict from last year in which Kurz was given a suspended prison sentence. Judges at Vienna's upper state court threw out Kurz's conviction after a short appeal hearing, the Austria Press Agency reported. The case centered on Kurz's testimony to an inquiry that focused on the coalition he led from 2017, when his conservative Austrian People's Party formed a coalition with the far-right Freedom Party, until its collapse in 2019. Prosecutors accused the 38-year-old of having given false evidence in June 2020 regarding his role in the setting up of a holding company, OeBAG, which administers the state's role in some companies, and the appointment of former close confidant Thomas Schmid to its leadership. In February 2024, Kurz was found guilty of making false statements about the appointment of the company's supervisory board, though not about that of Schmid. He was given an eight-month suspended sentence. That verdict followed a four-month trial. It was the first time in more than 30 years that a former Austrian chancellor had stood trial. 'What came out is what I have always said — namely, that I did not tell untruths to the parliamentary inquiry,' Kurz said in a brief statement to reporters outside the courtroom after Monday's decision. 'I now have a long time in (legal) proceedings behind me, and to be honest I'd like to set out my position in detail, but I ask for your understanding that I'm going home to family and my two children first," Kurz added. Judges on Monday upheld the conviction of Kurz's former chief of staff, Bernhard Bonelli, for making a false statement to the parliamentary inquiry about his own involvement and that of Kurz in the selection of OeBAG supervisory board members. He was given a six-month suspended sentence last year. Kurz said he deeply regrets the decision on Bonelli. Once a rising star among conservatives in Europe, Kurz resigned in 2021 after a separate corruption probe opened and has since left politics. His People's Party still leads the government under current Chancellor Christian Stocker, although it finished second in an election in September. Kurz rose to power with an anti-immigration platform and was only 31 when he became the leader of the People's Party and then chancellor in 2017. He pulled the plug on his first government after a video surfaced that showed the vice chancellor and Freedom Party leader at the time, Heinz-Christian Strache, appearing to offer favors to a purported Russian investor. Kurz returned to power in a new coalition with the environmentalist Greens in early 2020, but resigned in October 2021. The Greens had demanded his replacement after prosecutors announced that he was a target of a second investigation into suspected bribery and breach of trust. Kurz also denied any wrongdoing in that case. There has been periodic speculation about the possibility of Kurz making a political comeback.
