Hamburg-based company Finance City Hamburg GmbH looks to bolster its financial standing within the city's locale.
Hamburg, a vibrant city known for its rich history and bustling port, is taking strides to strengthen its position as a financial hub. The city's Masterplan for the Financial Industry 2021-2025, a key guide for the development of its financial sector, is being implemented through a partnership between the Finance Authority, Chamber of Commerce Hamburg, and Finance Place e.V.
This partnership has resulted in the formation of FCH Finance City Hamburg GmbH, an entity that aims to intensify cooperation and create an institutional framework to implement the goals of the Masterplan. The focus of Finance City Hamburg is on sustainable finance, innovative fintechs, and specialized talent.
The cornerstone of this initiative is the extension of the InnoFinTech funding program, which provides annual funding of €2.1 million for fintech, proptech, and insurtech startups. Startups in these sectors can now receive up to €200,000 in funding for their innovative projects, as the InnoFinTech funding program has been extended until the end of 2025.
The Hamburg Investitions- und Förderbank (IFB Hamburg) is responsible for awarding the InnoFinTech funding program. The program, operated by IFB Hamburg and its subsidiary, IFB Innovationsstarter GmbH, has already supported two Hamburg financial startups. More information about the InnoFinTech funding program and other topics related to finance, fintechs, location (Hamburg), startups, and related articles can be found on hamburg.de.
The extension of the InnoFinTech funding program was previously reported in an article titled "InnoFinTech funding program extended until the end of 2025" (InnoFinTech extended). The aim of this extension is to enhance Hamburg's position as a financial center and make it more visible.
Finance Senator Dr. Andreas Dressel believes that a strong local financial industry will help Hamburg tackle major challenges like ecological and digital transformation and demographic change. The city is also set to host Blockchance 2023, a blockchain community event, further solidifying its position as a hub for innovative financial technologies.
The Future Hamburg Talk has met with Heiko Milde of IFB Innovationsstarter, a key player in the InnoFinTech funding program (future-hamburg-talk). For more information about the startups that have received funding through the InnoFinTech funding program, visit innofintech-startups.
In conclusion, Hamburg's financial sector is poised for growth with the extension of the InnoFinTech funding program. The city's commitment to sustainable finance, innovative fintechs, and specialized talent is a testament to its ambition to become a leading financial hub in Europe.
