Thriving Munich startups creating numerous employment opportunities, yet female representation remains limited
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Munich's startup scene is thriving, with over 118,000 people employed by local startups worldwide. This growth is driven by key sectors, including advanced technology fields such as 3D sensing and industrial automation, sustainable urban mobility, and digital innovation.
One of the standout sectors is Deeptech, accounting for 36% of all startup jobs in Munich, with around 16,000 people employed in this field. Artificial Intelligence is also significant, with around 12,000 people working in this area.
Companies like SmartRay specialize in 3D sensors that improve manufacturing processes and automation, indicating growth in tech-driven manufacturing solutions. Meanwhile, programs like EIT Urban Mobility emphasize funding and scaling startups dedicated to sustainable urban transport and decarbonization, creating new job opportunities in the region.
However, the gender balance in Munich's startup ecosystem is not equal. Only 18.8% of founders in Germany are female, a figure that has decreased in the past year. Despite this, startups with at least one woman on the founding team create more jobs per invested euro than all-male teams in Munich.
In Munich, 2,900 jobs can be attributed to startups with female founders, including yoummday and Mynaric. Startups with at least one woman on the founding team also tend to employ more people. For every million euros invested, these companies create 3.1 jobs, compared to 2.4 jobs for male-led teams.
However, the share of investments in all-female founded startups dropped to just 1% from 2%. According to a study by the European Women in VC network, only 5-15% of investors are women. This gender imbalance is also evident among investors.
In an effort to promote gender diversity among startups and improve access to resources for women entrepreneurs, initiatives such as Women in Tech Breakfast events organized by EIT Urban Mobility are taking place. However, there is no direct quantitative comparison available showing how female-founded startups compare specifically in terms of job creation or capital access.
In 2024, Munich-based startups raised 2.3 billion euros. Despite the growth, there is still a long way to go in terms of gender equality in the startup ecosystem.
[1] Source: SmartRay press release
[2] Source: EIT Urban Mobility press release
[3] Source: European Women in VC network report
- The thriving startup scene in Munich, particularly in deeptech and artificial intelligence, offers excellent opportunities in education-and-self-development, providing individuals with the chance to gain valuable skills and advance their careers.
- As funding and resources become increasingly critical to the success of startups, it's crucial to address the gender imbalance in finance within the startup ecosystem, ensuring equal opportunities for women entrepreneurs in employment and ensuring a more diverse and prosperous technology sector.
