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Six magical ingredients that a German Silicon Valley needs

Wednesday, September 13th, 2017 | Gadgets

Is it possible to create a Silicon Valley in Germany? When it comes to Margit Wennmacher, the answer is "Yes". However, some prerequisites had to be created for this. On the Dmexco, Andreessen Horowitz, the start-up investor, explains the points at which she believes there is a need for action.

          In 2010, Wennmachers joined the venture capitalist Andreessen Horowitz, who made deals with Facebook and Twitter. Before that, she was co-founder of "Outcast Communications", a PR agency for tech companies: she knows both sides of the founding process. In the press the investor is called "Queen of the Silicon Valley". Even if it does not like the title itself: When it comes to investing in start-ups, you can hardly make someone think. These are Wennmacher's six "magical ingredients" that are necessary for the development of their own Silicon Valley in Germany: 1. Outstanding UniversitiesThe University of Wenn- mecher has already contributed to the development of a Silicon Valley. For he who studies science must not necessarily become a professor. Stanford University is a good model for the investor. Here, students would be trained as entrepreneurs and would have the opportunity to work on something that would help them later during their studies. Thus the university is part of the ecosystem and not outside. 2. The necessary investors "In Silicon Valley, we have professional investors, incubators, risk capital providers and many of them very much: a lot of money is circulated here," says Wennmachers. Developing a talent poolWhat is an engineer, can the product develop – but where does he get a sales manager, for example, who looks after the finances? The investor recommends to build up a talent pool at an early stage and to get together with people who are in other countries 4. California Sunshine In order to develop a major tech location, the environment must also be right, says Wennmachers, so the site should be a place where people are drawn – just like California and its sunshine. A cycle "We have a history of more than 50 years. People founded companies and inve later on, "said the German businesswoman. This cycle should also exist in Germany. 6. Establishing a new culture In addition, Wennmacher considers it necessary to rethink in Germany. It must be okay to fail. If a company goes bankrupt, this is all right: the founders should not give up, if they have a new idea. In Silicon Valley, these risks are well known. The investor fears, however, that the cultural difference between Germany and the US could be difficult to overcome. bre
    Image: Dmexco

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