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In 2023, Cologne, like other major German cities, saw a decline in the number of startups founded. At the same time, the robust growth of scaleups demonstrates the innovative strength and resilience of Cologne's startup ecosystem. To support founders in a targeted manner, KölnBusiness offers tailor-made services.
Overview
- Total number of startups in Cologne rises to 735
- Increase in investment volume by 35% to around €220 million
- Positive trend: increase in scaleups and women as founders
There are a total of 735 young companies in the city. In 2023, 67 startups were founded in Cologne. This is 27 per cent less than in the previous year. This trend is similar to other major German cities such as Berlin and Munich. Most startups in Cologne were in the fields of medicine, software, food, e-commerce and education. This is also in line with the national trend.
Dr. Manfred Janssen, CEO of KölnBusiness, presented these results at the Matching Day on 25 January. The event is the highlight of the Cologne Masterclass, a programme in which KölnBusiness, together with partners, recognises the most promising startups in the region and provides them with access to first-class investors.
Funding and scaleups: growth despite difficult conditions
According to the Startup Balance Sheet, the volume of funding for Cologne-based startups increased significantly by 35 per cent to around 222 million euros in 2023. This growth was achieved despite a general funding crisis among German startups, as the Ernst & Young Startup Report shows. The AI company DeepL played a key role in the positive trend in Cologne with a funding round of around 100 million euros in the first half of 2023.
The Cologne startup ecosystem is experiencing significant growth in the number of scaleups. Around 9 percent of the 735 startups are now scaleups, companies with more than 50 employees, a doubling compared to 2021. The proportion of female founders is also steadily increasing: in 2023, 22 percent of all founding teams had at least one woman. In 2022, the figure was 17 percent.
Services for all entrepreneurs at all stages of the startup process
"The current challenging times are also having an impact on Cologne as a business location. However, Cologne's startup ecosystem is proving its resilience and innovative strength. The increasing number of scaleups underlines that Cologne continues to offer very good conditions for the growth of innovative companies. In order to promote Cologne even more as a location for startups, KölnBusiness supports entrepreneurs with a wide range of services in all phases - from startup to local growth to international expansion," says Dr Manfred Janssen, CEO of KölnBusiness.
