Support for New Business Startups

The Ministry of Economic Affairs’ startup portal provides a detailed overview of startup support programs in the state.

• Information and advice are provided by economic development agencies, chambers of commerce and industry, and chambers of crafts. •
For information on starting a business due to impending unemployment or while unemployed, the Employment Agencies are the first point of contact.
• The Institute for Liberal Professions (IFB) in Nuremberg, which operates nationwide, is available to provide advice on starting a business in the liberal professions. The IFB offers freelancers comprehensive advisory services funded by the State of Hesse and the European Union.
• Numerous technology, innovation, and startup centers support new businesses and young companies by providing commercial space, infrastructure, and on-site services.
• You can complete administrative procedures, such as business registration, electronically through the Single Point of Contact for Hesse. •
Start Hub Hessen, part of Hessen Trade & Invest GmbH, serves as the central point of contact for the Hessian startup community on behalf of the state.
• There are additional advisory and funding programs for startups in Hesse—for example, “push!,” the Startup Grant, “EXIST” for science-based startups at various universities in Hesse, and the central point of contact for technology and innovation funding, Technologieland Hessen.

If there is a specific need for consulting services during the startup phase, or if existing companies are seeking advice, they can contact RKW Hessen, which offers state-funded consulting services for founders, startups, and small and medium-sized enterprises in Hesse on a wide variety of issues. Upon request, RKW Hessen recommends suitable experts who possess the necessary experience and expertise in their respective fields. RKW Hessen provides support throughout the entire process and ensures a high standard of consulting services.

In the skilled trades sector, consulting services for business formation and growth are offered free of charge by the advisory offices of the Chambers of Skilled Trades and some state associations. Funding is provided jointly by the skilled trades organizations, the federal government, and the state.
To support the financing of new business start-ups, the state offers various programs through the Wirtschafts- und Infrastrukturbank Hessen (WIBank). WIBank not only provides a team of experts for consulting. Through the “Start-up and Growth Financing Hessen – GuW-Hessen” (ERP) subsidy loan program, it provides support in the form of interest rate subsidies throughout Hessen, which can be even higher in certain priority areas. The funding benefits of the “Hessen Microloan” program and its variant, “Hessen MicroCrowd,” also apply to those embarking on self-employment. It is advisable to schedule a consultation with WIBank to determine exactly which type of funding is best suited to bring your startup idea or business acquisition to fruition. The funding programs administered by WIBank are processed through the applicant’s primary bank or its partner organizations (Chamber of Industry and Commerce, Chambers of Crafts, regional economic development agencies). Applications for funding must be submitted before any investments are made.

In principle, it can be beneficial for any company to attract new shareholders with fresh capital for its business. In practice, this most often occurs with startups that want to grow rapidly with innovative offerings. However, established companies looking to build a new business division or acquire a competitor can also benefit from the equity capital provided by the State of Hesse.
Beteiligungs-Managementgesellschaft Hessen mbH (BMH) is the capital management company for the Hessen Kapital Funds, the Hessen Technology Fund, and other state-backed funds. Through these fund vehicles, BMH invests public equity capital in young and established companies in Hesse. As a subsidiary of Landesbank Hessen-Thüringen Girozentrale (Helaba), BMH is an integral part of Hesse’s economic development efforts.

To ensure that good ideas don’t fail due to a lack of financing, it makes sense for several strong partners to join forces. That is the basic principle of a guarantee. An entrepreneur, founder, or business successor approaches their primary bank to request a loan. The primary bank is willing to support the project but would like to spread the risk across multiple parties.
In this case, Bürgschaftsbank Hessen GmbH (BBH) is a good point of contact. Together with the State of Hesse, the federal government, and the primary bank, BBH provides guarantees for loans granted for business projects in Hesse. By sharing the risk among these four parties, it becomes possible to support business projects that the primary bank alone would not be able to finance. BBH’s shareholders include chambers of commerce, private and public banks, insurance companies, and trade associations. In addition to its primary role of providing loan guarantees, Bürgschaftsbank Hessen thus has a broad economic and political network.

• Economic Development