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Munich germany is one of the fastest growing cities in europe and boasts a thriving startup scene the city is home to some of the worlds leading tech companies as well as a growing number of startups that are breaking new ground in areas like biotech ai and fintech entrepreneurship has a long history in munich dating back to the 19th century when the city was a center for brewing and engineering today the city is a hub for innovation and research with leading universities and research institutes located in and around the city munichs central location in europe and its strong transportation infrastructure make it an attractive location for entrepreneurs investors and talent from around the world the citys population of over 15 million is highly educated and diverse making it an ideal place to launch a startup some of the most successful companies founded in munich include siemens bmw and allianz today the city is home to a growing number of startups like flixbus lilium celonis and personio among others munich has a rich history from being the home of the bavarian royal family to serving as a center of culture art and music its also the birthplace of oktoberfest one of the worlds largest and most famous festivals local universities like the technical university of munich and ludwig maximilian university of munich provide a steady stream of highly skilled talent to fuel the startup ecosystem munichs high quality of life and relatively low living costs make it an attractive destination for students entrepreneurs and investors the citys unemployment rate is currently at around 42 and the average monthly net wage is around 2700 euros munich has a high gdp of over 90 billion euros and a high rate of new company formations with over 4000 new companies founded in 2020 in conclusion munichs startup scene is thriving due to its rich history of entrepreneurship leading universities and a diverse and educated population the citys central location transportation infrastructure and attractive quality of life make it an ideal location for startups to launch and thrive
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