Berlin business development group reports more enquiries post Brexit | News | DW | 18.07.2016
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Berlin business development group reports more enquiries post Brexit

Berlin's business development group has reported interest from London start-up fintechs in the wake of the Brexit vote. The German capital is seeking to position itself as a location of choice for Europe.

Berlin Partner has launched a website in English giving information on how to start up a business in the capital and will take a roadbus to London in October to attract more companies.

"The most concrete enquiries are coming from London fintechs (financial technology firms). They are considering a move to Berlin so as not to lose access to the European single market," Berlin Partner Director Stefan Franzke told a news conference on Monday.

According to a report last year from accountants Ernst and Young, Berlin attracted almost 2 billion euros ($2.2 billion) in venture capital investment in start-ups in 2014. There are 100 financial technology firms or fintechs in the capital employing between 10-18 people.

Cornelia Yzer, Berlin's Senator for Economics, Technology and Research, has sent out letters to British companies and lobbied start-up founders on the benefits of Berlin.

Franzke said he also expected to receive enquiries from international start-ups that were originally interested in London but were now looking elsewhere in Europe. He said he saw Amsterdam as Berlin's major competitor.

jm/mm (Reuters)

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