Favourable conditions for innovation

Fierce competition between market players is the key driver of innovations.Therefore the Federal Government is committed to ensuring that conditions are favourable for innovation and bright ideas can emerge and go on to become economic success stories.

Fierce competition is the key driver of innovations. Therefore, the Federal Cartel Office and the Federal Network Agency protect competition between market players. In addition, the Federal Government is committed to ensuring that conditions are favourable for innovation. In particular, these include securing the skilled labour base, guaranteeing adequate financing options, while maintaining fair competitive conditions and innovation-friendly regulations. If conditions are favourable for innovation, then bright ideas will emerge and go on to become economic success stories.

Securing the skilled labour base is one of Germany’s priority tasks. Along with politics and society, companies and social partners now have to take action. As part of the Skilled Workers Concept, the Federal Government is pursuing a comprehensive, systematic approach, with various interdepartmental initiatives aimed at securing the skilled labour base.

As a location for venture capital investment, Germany must be competitive on an international scale. With a range of measures, outlined in the key issues paper on Venture Capital – Germany needs a new era of rapid industrial expansion, the Federal Government has created further incentives for investing in innovative companies and ideas.

Standardisation and effective legal metrology are integral elements of economic and innovation policy. The elimination of non-tariff trade barriers and the international harmonisation of standards and norms are the subject of ongoing multi- and bilateral negotiations. The metrology system was restructured under the 2015 German Weights and Measures Act and systematically adapted to comply with European guidelines.

With its high volume of over 300 billion euros per year, public procurement can provide powerful incentives for greater innovation in industry. Funded by the BMWi, a competence centre advises public procurers to demand more innovation on the market, thereby setting innovation incentives for the economy.