Lower saxony located in northwestern germany has a rich history of entrepreneurship dating back to the hanseatic league in the middle ages the region is home to over 8 million people and boasts a diverse geography including the north sea coast the harz mountains and the weser river valley in terms of technological innovation lower saxony is a leader in the automotive industry with volkswagen headquartered in wolfsburg and numerous other automotive companies located throughout the region other notable companies founded in lower saxony include continental ag tui group and norddeutsche landesbank local universities such as the university of gttingen and the leibniz university hannover provide a strong foundation for research and development particularly in the fields of engineering and natural sciences the living wage in lower saxony is 950 per hour and the unemployment rate is currently at 58 the city level gdp is 232 billion despite these positive indicators the rate of new companies starting and ending in lower saxony is relatively low compared to other regions in germany this may be due in part to a lack of venture capital investment and a conservative business culture however the regions strong industrial base and skilled workforce provide a solid foundation for startups in the manufacturing and engineering sectors additionally lower saxonys proximity to major european markets and its welldeveloped transportation infrastructure make it an attractive location for businesses looking to expand internationally overall while the startup scene in lower saxony may not be as vibrant as some other regions in germany the regions strengths in industry and research provide ample opportunities for entrepreneurs willing to take on the challenge
