Top Investments 2019 in Bavaria
In Bavaria, the digital future is taking shape. Hence, as in 2018, some of the most noteworthy inward investment projects recorded in Bavaria in 2019 have been driven by digitalization. Attractive industry networks and clusters, a string of supportive accelerators and incubators for start-ups and – above all – an exceptionally strong market were the main lure for many of these companies.
Autonomous Driving, Advanced Engineering and Fintech
Reliable object recognition is one of the key prerequisites for autonomous driving. In comes Recogni Inc., the US-German Silicon Valley start-up that emerged from stealth in mid-2019. Recogni designs a vision-oriented AI platform for autonomous vehicles that is to enable autonomous driving capabilities well beyond the current Level 2 standard. On the strength of a major funding round, with investors including Osram, BMW and Toyota, there is little surprise that Recogni swiftly opened an operations and development base in Munich.
Perception algorithms remain a bottleneck for autonomous vehicles due to the enormous computational power required © Recogni
Bavaria’s automotive and industrial strength also has been a major factor in L&L Products’ decision to establish a sales and engineering center in Munich. US company L&L, headquartered in Romeo, Michigan, develops and manufactures ultra-strong, light-weight body structures for a range of industrial applications, foremost the automobile and aerospace industries.
Another Munich “recruit”, in this case in the Fintech sector, is Velvon, an app-based online-only retail bank, an offshoot of Czech Airbank. Velvon has just been granted a banking license for Germany by regulator BaFin and is busy ramping up its team in Munich for its planned launch in early 2020. The Munich base is also to serve as the springboard for further markets in Europe.
Canadian Robots, Japanese Chemicals, Chilean Software, UK Pharmaceuticals & Google
Robotics specialist KINOVA, repeatedly hailed as one of Canada’s most successful, disruptive and fast-growing manufacturing companies, has opened its first European Competence Center for Robotics in Langerringen near Augsburg. The center for KINOVA’s range of assistive robots in healthcare enables health professionals, health insurers and medical equipment suppliers, to test KINOVA’s robotics arms on site.
From l.t.r.: Konrad Dobler (Mayor of Langerringen); Tommy Swigart (Managing Director EMEA, KINOVA); Susanne Schierok (Invest in Bavaria); Peter Freier (Representative of the Government of Québec in Munich); Keith Blanchet (Global Sales Director, KINOVA) © Invest in Bavaria
Also addressing the healthcare sector, Chile’s SEIS (Sistemas Expertos) selected Munich as its base to enter the German and European market. SEIS’s Medinet software solution is a hospital information system (HIS) augmented by a platform-independent chat-bot-based intra-hospital communications system.
Swabia in Bavaria is also the location of choice for BAP Pharma, a UK supplier of comparator drugs. BAP’s investment at Dillingen, in part prompted by Brexit, will create at least 100 jobs in the region.
Sunstar Engineering Group from Japan is responsible for a further significant industrial project with a Euro 20 million investment to set up a production and development unit at Rain am Lech.
Last but not least, internet giant Google has announced plans to ramp up its existing big footprint (1,000 employees) in Munich with an additional 1,500 jobs, making Munich Google’s largest operation in Germany. To house its new Munich operation, Google has acquired the prestigious “Alte Post” landmark building right in the city center.
A superb location to conquer new markets
Australian tech start-up Tiliter, developer of a revolutionary product recognition system for retail check-outs, has opted for Munich as its base to roll out its technology to global markets. Tiliter has been benefitting from Munich’s Retailtech Hub accelerator and Invest in Bavaria’s own “Ois Easy” scheme.
© Invest in Bavaria
Deggendorf in Lower Bavaria welcomed in 2019 China’s SOUNDKING, a world market leader in audiovisual technology. SOUNDKING Europe GmbH will serve as the group’s European HQ and serve its dealer network and provide global marketing for its products that are widely used in education, media, public events and entertainment. SOUNDKING also was awarded the Newcomer prize at the annual BayChi Summit in October 2019.