What concrete benefits does this co-working space have for customers and participants?
Geiger: The German Hub brings federal and regional business developers closer together. If I can inspire a company to choose Germany, and Bavaria emerges as a possible location, I can work directly with my Bavarian colleagues in the German Hub. Sharing knowledge, ideas and important contacts is the Silicon Valley mindset – if you invest in your network, you will be repaid in the long run. That philosophy is shared among all of the German Hub participants, and we all benefit.
What is special about the business environment in San Francisco?
Steinacher: The San Francisco Bay Area accounts for about 40 percent of total U.S. venture capital investment and about one-seventh of all U.S. patents. The environment is very innovative and disruptive. We can see that disruption, the replacement of existing technologies and services through innovative new ones, everywhere. It creates alliances that would have been previously unimaginable, such as that of Volkswagen and Microsoft for the development of the Volkswagen Automotive Cloud. Keeping up with these trends is essential for Germany to avoid falling behind. During his visit to San Francisco in early July 2019, the Federal Minister for Economic Affairs and Energy, Peter Altmaier, made it clear that he wants to rev up the transition to future technologies like artificial intelligence and machine-learning. The German Hub wants to actively accompany, support and promote such processes.
Geiger: Silicon Valley attracts top talent from all over the world. It is exciting to work in such a creative atmosphere. But since no single one of us can possibly partake in all of the learning and networking opportunities available, members of the Hub gain from the experiences of the others.