German Federal Ministry of Economics expands innovation funding
To date, funding for innovation from the German Federal Ministry of Economics (BMWi) has been predominantly the domain of technical projects and expert science assessors. With the newly launched Innovation Programme for Business Models and Pioneering Solutions (IGP) the BMWi has significantly expanded its funding programme, aiming specifically to include non-technical innovations such as digital business models which might also stem from the cultural and creative sectors. The goal of this programme is to remove the barriers that stand in the way of transforming an idea into a commercially viable business, supporting clever ideas, business models and design approaches. Over the next four years the German Federal Government will allocate €25 million in funding to this cause, directed at start-ups and small to medium-sized enterprises. The new funding programme is due to begin in autumn. For next year, the Ministry is planning a second campaign aimed in particular at business innovations in the cultural and creative sectors
