An innovation boost for Saxony and Lower Saxony: New regional programmes launched for start-ups and SMEs

Under the new regional programme “Innovation Capital Saxony”, the German state is working in collaboration with KfW and the Sächsische Aufbaubank to open up new financing opportunities for growth-oriented companies with innovative business models. Alongside this is the “InnoGrowth Lower Saxony” regional programme, which was launched in Lower Saxony as a cooperation between KfW and NBank.

The initiatives are part of the federal programme "RegioInnoGrowth", which provides risk and equity capital for companies as a component of the Future Fund set up by the German Federal Government and KfW. The funds for “Innovation Capital Saxony” and “InnoGrowth Lower Saxony” come from the Sächsische Aufbaubank and NBank, private investors, the Future Fund and the ERP Special Fund.

The regional programmes provide equity financing of between one and five million euros in equity. They are open to fledgling companies and growth-oriented SMEs pursuing innovative digital, environmental or social business models that have their headquarters or permanent business premises in Saxony or Lower Saxony.

RegioInnoGrowth strengthens the partnerships between KfW and the German federal states: Together with the states and their promotional institutions, KfW supports the regional presence and innovative strength of local companies. The aim is to mobilise private funds to promote regional business activities, thereby strengthening the competitiveness of German SMEs.

With the addition of Saxony and Lower Saxony, KfW is now cooperating with eleven federal states in the RegioInnoGrowth component of the Future Fund.

Further information: SAB press release and NBank press release

KfW supports SMEs with various promotional programmes on behalf of the German Federal Government. Find out more here: Strengthening our SMEs | KfW.