Cologne Startup Report 2024: Growth and challenges

In 2024, the Cologne startup ecosystem showed significant growth momentum. With nearly 800 startups and a 9 percent increase in new startups, Cologne developed in line with the national trend. Investments also rose sharply, but only a few large startups benefited from this. As in other regions, young founders had to contend with financing hurdles. KölnBusiness is providing targeted support to further develop the ecosystem.

Overview

• 9 percent more growth: Cologne now has around 800 startups
• Investments rose by 71 per cent - however, the majority went to just a few young companies, with DeepL remaining in the lead with 272 million euros
• Strong support: KölnBusiness conducted over 2,000 consultations, recommended 40 startups for the NRW start-up grant and provided 160,000 euros in funding

The Cologne startup ecosystem can look back on a successful 2024: the number of startups rose by 9 per cent year-on-year, in line with the national growth trend (11 per cent). With a total of almost 800 startups, Cologne continues to be the strongest startup location in North Rhine-Westphalia. Startups were particularly well represented in the software, medical, gaming, e-commerce and HR sectors - areas that are also among the leading startup sectors in Germany.

Despite the growth, financing remained a challenge for young companies. Investments in Cologne startups rose by an impressive 71 per cent to €381 million in 2024. However, 85 per cent of this went to just four companies: DeepL received €272 million, bezahl.de €22 million, DISCO Pharmaceuticals €20 million and Spot my Energy €10.5 million.

There is also room for improvement in terms of gender distribution: in 2024, only one in five founding teams had at least one woman. Both developments - the financing problems and the gender gap - reflect national trends.

KölnBusiness: a strong partner for founders

The development of Cologne as a location for startups shows that financing is crucial for sustainable growth. In 2024, KölnBusiness actively strengthened Cologne's startup ecosystem: the experts conducted a total of over 2,000 consultations with founders and those interested in founding a company. Around 40 startups with 80 founders were recommended for the North Rhine-Westphalia start-up scholarship (Gründungsstipendium NRW). In addition, KölnBusiness provided 160,000 euros in funding from its own programmes to specifically support innovative business ideas. The development of Cologne as a location for startups shows that funding is crucial to making growth sustainable. 'Startups are a key driver of innovation and economic momentum in Cologne,' says Dr. Manfred Janssen, managing director of KölnBusiness. Above all, young companies need better financing options to realise their growth potential. This is exactly where we come in: we support founders from the first idea to scaling up, connect them with investors and support their visibility at international trade fairs. This opens doors to new markets and investors. Our goal is to strengthen the startup ecosystem in Cologne so that innovative ideas become successful companies in the long term'.

Startup highlight events 2025

Cologne Startup Summer Night (10 July) - networking event for the startup community
Cologne Scaleup Programme (October) - internationalisation programme 
Startup-Champs Germany and STARTUPLAND (5 November) - pitch competition and conference
Cologne Investors Evening (6 November) - investor network