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Business creation by immigrants: benefits for Germany | Free Press

Not all companies created by migrants are a success story as in the case of Biontech. But according to KfW, Germany has benefited for years from people with foreign roots who are self-employed.

Frankfurt / Main (dpa) – According to a study, business creation by immigrants plays an important role for the German economy.

“Startups are important for renewal and therefore for the future viability of an economy,” explained Fritzi Köhler-Geib, chief economist at the state development bank KfW. “This is why Germany has benefited for many years from the greater willingness of immigrants to become self-employed.” That was also proven in 2019.

Last year there were 605,000 startups, in about 160,000 cases the founders had foreign roots. The proportion increased by 3 percentage points to 26 percent compared to the previous year, as a special assessment by the KfW Start-up Monitor shows. According to Köhler-Geib, the spirit of innovation and growth orientation of migrants offer great opportunities.

According to the study, migrants also dare to launch into self-employment because they often have fewer opportunities in the labor market, but also because they are more willing to take risks. In addition, there is a role model effect above the average of friends and family who have started their own business. A migrant is counted as someone who does not have German citizenship or did not have German citizenship at birth.

According to KfW, many startup plans were generally put on hold during the crown crisis. “However, the crisis can also act as a catalyst for innovation. Founders who meet new needs with innovative business ideas can be tomorrow’s big winners, ”said Köhler-Geib.

The Biontech company from Mainz is one of the current winners. The company and its US partner Pfizer have presented encouraging interim results on the effectiveness of their corona vaccine. It offers more than 90 percent protection against Covid-19. Studies on this have not yet been completed. If all goes well with the vaccine approval, large-scale manufacturing can begin.

Biontech was founded twelve years ago by oncologist Ugur Sahin and his wife Özlem Türeci. Sahin, who was born in Turkey and later came to Germany with her parents, did her doctorate in Cologne. Türeci, who was born in Germany, did his doctorate in Homburg in the Saarland.