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☆ Germany bids to rebuild Berlin's buzz for startups
  + stars: | 2023-06-01 | by ( Maria Martinez | Thomson Reuters | Maria Martinez Is A Reuters Correspondent In Berlin Covering German Economics | ) www.reuters.com   time to read: +5 min
London generated $2 billion in venture capital funding in the first quarter of 2023, compared to Berlin's $800 million, a DEEP Ecosystems analysis of Dealroom data showed. Reuters Graphics Reuters GraphicsTOUGHER TIMESIn 2022, 501 startups were founded in Berlin, a fifth of Germany's total. About a fifth of openings at startups were vacant and more than half were struggling to fill posts, German Startups Association said. In Germany, it has been accompanied by the sharpest contraction in venture capital funding in Europe in the past 12 months, down 42%. The funding crunch is hitting Germany's push to encourage the growth of new renewables businesses, given manufacturing startups are particularly capital intensive.
Persons: Avitosh Sawhney, Christian, headwinds, Katharina Beck, Lindner, Maximilian Tayenthal, Christoph Stresing, Tobias Lechtenfeld, Chancellor Olaf Scholz's, Maria Martinez, Riham Alkousaa, Matthias Williams, Mark John, Edmund Blair Organizations: Wall, Greens, Reuters, Startup Heatmap, Reuters Graphics Reuters, Manpower, Association, European Central Bank, Tech, Zero Alliance, Free Democratic Party, Thomson Locations: Berlin, London, BERLIN, Paris, Germany, Europe
☆ A coder quit his $300,000 job at Stripe to build his own startup. Here's why he's convinced it was the right thing to do.
  + stars: | 2022-10-05 | by ( Daniel Hüfner | Nathan Rennolds | Business Insider Deutschland | ) www.businessinsider.com   time to read: +5 min
Sumit Kumar, a 34-year-old coder from Hamburg, Germany, quit his $300,000-a-year job at Stripe. He left in May 2022 to build his startup Parqet, a financial platform he started as a side project. He told Insider why walking away from his job to pursue his own business was the right choice. Sumit Kumar, 34, quit his 300,000 euro, which is around $300,000, job as a solutions architect at the fintech Stripe to build his own financial platform. Kumar said he's planning to focus on Google Ads, which he hopes will arouse new interest among investors as he's no longer completely ruling out funding rounds.
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