The USA and Asia, Europe's Tech industry depends, but crisis brings a major Wake-up call

Until recently, knew only a few of the biotechnology company Biontech. In the corona crisis, the company from Mainz, Germany, was abruptly known: she is researc

The USA and Asia, Europe's Tech industry depends, but crisis brings a major Wake-up call

Until recently, knew only a few of the biotechnology company Biontech. In the corona crisis, the company from Mainz, Germany, was abruptly known: she is researching a vaccine against Covid-19, and prepares a corresponding mass production. At the end of April, Biontech became the first German company worldwide approval for clinical studies. Since then, the company has been testing its promising vaccine candidates to the people. First test data should be available in July.

Although worldwide there are more than 80 such vaccine programs. However, so far, have managed only a few in the important Phase of the clinical trial. And: to Biontech these programs all come from China or the USA. The company is therefore regarded as a German hope in the fight against Corona – and raptured investors, such as industry experts, the Germany in the race for the global Tech supremacy beaten long ago saw. Stefan Albrecht/Biontech/dpa In the laboratories of the Mainz-based technology company Biontech is currently working on the development of a vaccine against the Coronavirus.

basic problem: Too little money for young companies

a long time, the German Start-up Investor, and venture capitalist Klaus Hommels warns that there is in Germany a few major technology companies. Innovations that change the world, would now made far too rarely in Germany. China and the United States are outrunning us. The basic problem, according to Hommels: There is a lack of money for young companies.

"The share of European capital in the 20 largest digital platforms is just 1.4 percent. In terms of global economic power, Europe would have to have at least one share of 20 percent,“ says Hommels on the DLD Sync, the virtual offer of the digital conference DLD. The Star-Investor warns of a growing influence of American and Asian lenders to Start-ups, and calls on Germany and Europe to invest more money. FOCUS Online / Shuang Liu

"Germany should be more self -"

"anyone Who thinks to the future and developed, takes time, money, and everything is not always logical," says Hommels, who has invested early in companies such as Xing, Skype, Klarna and Spotify, and today, with his venture capital company "lake star" money from other investors to collect and it's in young companies. Although Europe has a strong SMEs and excellent universities, which bring well-trained and innovative graduates to emerge. However, there is a lack of money and the risk appetite of investors, that they can implement their ideas. "Germany and Europe should have more self-respect and a role in the global financing of young companies play", calls Hommels.

But it is entirely up to the lack of willingness to invest, that Europe is in the Tech industry in the past few years behind? "Not at all", is convinced the head of pharmaceuticals Stefan oschmann. "What is really missing are cooperating in a Pro-active policy and an innovative Tech Ecosystem, in which people without academic boundaries." In Israel, for example, the Osh man several times, among other things, together with German Chancellor Angela Merkel has visited, see you, how at universities and research institutions in a boundless, innovative spirit is lived. "At the Hebrew University in Jerusalem, and even art historians, Start-ups," said Oschmann.

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revolutionize "money is not everything: in Need of an innovative Ecosystem,"

The Manager believes that the current crisis is for Europe to be "a big Wake-up call". There is an important change taking place in these days. "Politicians and government are very keen to have an innovative Ecosystem and a thriving Biotech scene," said Stefan Oschmann. The corona of a crisis could give the European technology industry a major boost and also lead to a rethink when it comes to competition. Because it is precisely here that Europe's cutting edge in the global technological development itself in the flesh, is the conviction of the Manager.

"Our competition policy has only one objective: to keep the consumer prices low." Other state such as the US, China, or South Korea would pursue, in this respect, a different approach and more on the position of your company on the world market look. Oschmann is confident: "Google or Amazon would not have brought it under the rules of European competition policy to what they are today. In Europe, they would have been killed.“

"competition policy must not slow down Innovation,"

The example of the German "shooting Stars" Biontech shows that Germany and Europe can take advantage of the current crisis, to catch up with the major Tech Hotspots in China and the United States. The will to succeed oschmann, according to but only if the German and European policy, learns of a: "competition policy should not slow down Innovation."

The next DLD Sync on the topic of Covid-19 - The End of Capitalism" will take place on 20. May at 18.00 instead, with entrepreneur and Venture Capitalist Albert Wenger and Isabell Welpe , holder of the chair for business administration – strategy and organization at TU Munich. You can register here.

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Updated Date: 22 May 2020, 07:26

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