•W
e aim to create a High-Tech Start-Up Fund (High-Tech Gründerfonds, HTGF) III with
a volume of around €300 million by 2017. The HTGF will offer initial financing for
young, quickly expanding technology companies. After establishing HTGF I in 2005
and the follow-up fund HTGF II, we want to once again implement this form of
financial assistance. Public institutions and private commercial companies should
again be able to participate, as in the other two funds.
•W
e will be aggressively expanding the INVEST programme in 2016. Subsidies of 20%
will now be granted for venture capital investments from private individuals of up to
€500,000 (previously: €250,000) and a tax refund on capital gains on INVEST shares
will be granted. Furthermore, there will be a pro rata funding grant for compensation
of losses. And finally, eligibility for applications will be greatly broadened.
•W
e want to continue to make Germany an attractive competitive location for venture
capital funds and to this end are improving the legal and tax framework. We will
utilise the options provided for by European court rulings regarding turnover tax on
management services provided by investment funds. Another important aspect is the
treatment of loss carried forward when shares are sold. When high-growth companies
are refinanced or if strategic investors buy shares, tax loss carryforwards may not be
lost.
•W
e want to relieve innovative companies of taxation of minority shares and ensure
in any case that no new burdens are created for financing young, innovative com
panies. If the topic of such tax rules should come up again, the federal government
will in any event ensure that an exception is made for financing young and innovative
companies – one that is effective and conforms to EU law.
•W
e want the stock exchange to once again become a source of financing for young
and innovative high-growth companies, thereby re-opening an important exit route
for venture capital financing. The mission report issued by the roundtable created
by Sigmar Gabriel, Minister for Economic Affairs, includes a number of recommendations. In summer of 2016 we will submit an update on what has been accomplished
up to that point.
•W
e support potential start-ups in the very early planning phase with the new
Digital Innovation Start-up Competition (Gründerwettbewerb Digitale Innovationen),
in which business ideas are evaluated and the best ones are awarded a prize.
www.de.digital
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