German-American business

Governor Lamont visits Connecticut’s #1 Economic Partner: Germany

(HARTFORD, CT) – Governor Ned Lamont today announced that from July 15 through July 19, 2024, he will be leading a delegation of officials from Connecticut on an economic development mission in Germany, where they will meet with the leadership of several German-based companies to discuss expanding their businesses in Connecticut.

“We have more than 100 German companies with operations in Connecticut,” (John) Bourdeaux said. “Last year, we announced four German expansions and new operations in Connecticut that created more than 300 new jobs, $87 million in capital expenditures, and more than 309,000 square feet of new facilities. Germany is a key market for us, and German companies are the third highest source of foreign employment in our state, representing more than 12,400 jobs. This visit will cultivate the relationships with our existing companies to keep them while developing new opportunities for our state.”

Find out more on this page about the goals for this delegation!

Read more about the visit in the CTMirror here.

Listen to WSHU here.

Germany ranks 3rd in List of World’s Top Valuable Brands

In international reports, Germany is ranked 3rd, following the USA and China, with its list of most valuable companies in 2024. Deutsche Telekom is leading the group, and together the value of the German top 8 amounts to $347.1B. The full report is available from Brand Finance, and the information presented is visualized by Visual Capitalist

Career Booster Germany, October 4th

Find out more about opportunities for studying and working in Germany and join the Career Day Germany! The Goethe-Institut Boston invites teachers and students of high schools and colleges to Career Day Germany on Friday, Oct. 4 between 10:00 am and 4:00 pm.
 
See how speaking German can improve career perspectives and explore options for exchange programs, German university degree programs without tuition fees and career options in Germany and in the USA.
 

Pitch Your Idea at Falling Walls Lab in Boston, September 26

Northeastern University, the German Consulate in Boston and the German Center for Research and Innovation in New York are delighted to host Falling Walls Lab Boston on September 26, 2019, at 6 p.m.

Falling Walls Lab is a platform for excellent academics, entrepreneurs and professionals from all disciplines who would like to present their research work, business model, innovative project or transformative idea in front of their peers and a distinguished jury from academia and business.

The call for applications is now open. Bachelor and master students, postdocs, young professionals, entrepreneurs and faculty members are invited to apply. Falling Walls Lab Boston offers an opportunity to pitch ground-breaking ideas and win a trip to Germany. If you are the finalist in Boston, you will be awarded the chance to represent your institution at the Falling Walls Conference in Berlin on November 8, 2019, present your ideas and compete for additional cash and research prizes.

The Falling Walls Lab Boston will take place on Thursday, September 26, 2019 at 6 p.m. at Northeastern University’s Boston campus. Applications can be submitted online until August 15. For more information go to: https://www.falling-walls.com/lab.

To help spread the news of the Falling Walls Lab Boston, we would greatly appreciate it if you could forward our call for applications to emerging researchers and professionals within your institution’s network.

If you have any questions, please do not hesitate to contact CSSHDean@northeastern.eduinfo@bost.diplo.de or the Falling Walls Foundation (lab@falling-walls.com).

 

Moving your start-up across the Ocean

The German Innovation Center just published a How-To Guide for transatlantic travel with your start-up. Here are a couple of first pointers:

1️⃣How to Germany
Self-defined as “important things to know and consider when starting a business in Germany,” this page defines types of companies, demystifies taxes and premiums, and gives tips for hiring, self-employment and more.

2️⃣Federal Ministry of Economic Affairs and Energy
As close as you can get to “The OFFICIAL Guide to Starting a Business in Germany,” this page covers it all from “first steps” to a Q&A with experts to helpful checklists.

3️⃣Make It in Germany
This government-sponsored site calls itself “the official website for qualified professionals.” Tabs help you explore visa and professional requirements, financing & funding, personal & company insurance and more.

Important for this context is the accompanying article on the difference in start-up scenes:

  • In contrast to Germany, failure of a start-up in the US is not a stigma as long as entrepreneurs learn from their mistakes.
  • Forming a start-up in the US is comparatively easy and tax laws are very founder-friendly, which is not true to the same extent in Germany. What is more, there are not as many investors and funding sources for pre-seed start-ups in Germany as there are in the US.
  • German founders and investors are generally very risk-aware – even risk-averse in many cases – while a high degree of risk tolerance can be found in the venture capital and investor scene in the US. However, this higher risk tolerance and easier access to capital often encourages the premature formation of a start-up based for example on technologies that have not yet been fully developed. This results in many more failed start-ups and bankruptcies in the US than in Germany.
  • Start-ups in the US profit from a particularly extensive support structure of investors, mentor and adviser networks, incubators and accelerators. In addition, American start-ups can take advantage of training programs for entrepreneurs at an early stage in the process. This multi-faceted support environment can certainly serve as a role model for Germany.

The Zeitgeist and The Big Pond – Transatlantic Podcasts

Two fairly recent podcasts, The Zeigeist, supported by the American Institute for Contemporary German Studies (AICGS), and The Big Pond, broadcast by the Goethe Institute in support of the “Wunderbar Together” Year, feature some big-picture and some more everyday stories about how US Americans and Germans see their own and the other’s country and culture. Episodes include conversations about German bread, Industry 4.0, or the Detroit-Berlin connection. Download, connect, and listen in on the many perspectives on transatlantic relations!

German Center for Innovation and Research Pitch Contest in New York

Have a business idea? Pitch it at the “Falling Walls Lab” in New York on May 2nd and enter to win a trip to the finale in Berlin, Germany!

Participate – Present your research project, business plan or social initiative – in just 3 minutes on 3 slides – to a jury.  Get involved in exciting discussions and network with fellow innovators and experts from different disciplines.


Win – The winner of this pitch contest will get to:

  • travel to Berlin, Germany (travel & accommodation covered)
  • pitch their idea in the Falling Walls Lab Finale in Berlin on 8 November 2019
  • attend the Falling Walls Conference on 9 November 2019, where leaders from science, industry, and policy-making meet and discuss which walls will fall next in science and society
  • participate in a Springer Nature event on science publishing and a science excursion.

The finale winner gets to speak once more on the grand stage of the Falling Walls Conference, receives a cash prize, and the opportunity to win a six month Virtual Residency with Nature Careers of the global publisher Springer Nature.


About Falling Walls

The Falling Walls Lab New York is one of over 50 labs taking place worldwide this year. The winners of each lab qualify for the Falling Walls Lab Finale in Berlin on November 8 and are invited to attend the Falling Walls Conference on November 9. The Falling Walls Conference takes place every year on the anniversary of the fall of the Berlin Wall, November 9. During the conference, scientists from around the globe present their current breakthrough research.

EUROBIZ students visit German American Conference 2018 at Harvard

Student group led by Isabel Choinowski (M.A. candidate), instructor of “German for the Professions”; report written by Alena Hauer, Patrick Kornegay & Bret Olson

Screen Shot 2018-10-08 at 8.15.17 AMThe German American Conference is the largest-student led conference in the United States. The conference tackles transatlantic challenges and issues by inspiring leadership, fostering dialogue, and promoting innovation. Harvard hosts all three days of the gathering, one at Harvard Medical School and two at the Harvard Kennedy School. More than 15 panels were spread out over the three days on topics ranging from education to digitalization in sports to migration. There was also an Innovation Lounge that offered participants an opportunity to rethink challenges in creative ways. Exhibitors like Siemens, the Goethe Institut, and the Boston Consulting Group participated in the Innovation Lounge. Over 80 speakers from politics, industry, and academia spoke at the conference, including the Permanent Representative of Germany to the United Nations Christoph Heusgen. About 700 people, of which many were German young adults studying or working in the US, attended the conference. The conference truly bridges the transatlantic gap between Germany and the United States, and we thank the UConn School of Business and the CIBER Institute for the opportunity to attend the conference.

Panel “Transatlantic Security”: Major issues continue to develop in the transatlantic partnership. One of those is Article V being called into question (Financial commitment to defense spending) and a major question presented is how can we go forward with the current issues in national security with cyberterrorism and Russia? We need more cooperation with Europe as the alliance is under stress from both sides of the Atlantic and there are several weak points that need attention. The complicated set of relationships that comprise the alliance deals with issues such as: How are both sides dealing with challenges within the alliance and how can we respond to aggression? Some vulnerabilities are self-inflicted (such as defense spending) and nostalgia should not be a basis for policy. Both Germany and the United States are key pillars for European security and that relationship should continue to be strengthened, and Germany needs to take on a more direct leadership role within the alliance as well as with foreign policy. Two different strategies comprise the alliance that continue to be debated: strategic patience and strategic autonomy, with NATO leadership needing to figure out the best option for dealing with whatever challenge comes its way. European integration needs to be as much as necessary and not as much as possible. We’re not talking about more exits with issues like Brexit and that needs to be known. There is a new frontline that we are facing now: authoritarianism challenging constitutionalism and separation of powers. A question I presented was how much of a role does the US-German relationship play in checking Chinese aggression in the South China Sea. Answers to this question were that there are enormous trade interests in the region, so Germany would definitely want to be a player but that doesn’t mean that Germany has to send a carrier battle group there, but there should definitely be a strategy with regards to the region. Germany should think to do what’s best in Germany’s interests when it comes to making decisions with its role in the alliance.Screen Shot 2018-10-08 at 8.14.33 AM

Panel:“Future of Work – Man or Machine: Are we prepared for the future of work?” One of the many panels at the German American conference in Boston was “Future of Work – Man or Machine: Are we prepared for the future of work?” which occurred on Saturday, October 6, 2018 at 1:45 PM. Upon the start of the panel, it was standing room only. It seemed that a lot of participants were interested in this panel, including myself. There were four panelists and a moderator. The panelists included a MIT economics professor from Germany, a University of Zurich business economics professor, a German politician from the SPD, and a lawyer from Germany. The largest topic was the effects that Artificial Intelligence may have on the world of work. One of the first questions was if the panelists thought that the use of AI was an opportunity or a challenge. 3 of the 4 panelists thought that it was an opportunity, if done right. One panelist thought that it was both an opportunity and a challenge. It was discussed that there was even a trend in certain areas after a form of AI was introduced. ATMs in the banking industry was used as an example. A panelists stated that once ATMs were introduced, the demand for bank tellers went up. My personal understanding was that the demand would go down because of how the job was being replaced by a machine. However, the argument was that the job description of a bank teller was changed after the introduction of ATMs. It was also a matter of change and how people in the world accept the dynamic nature of technology to improve the workforce. The caveat was if we, as a population, do it right and use AI as a beneficial progression of the future. The general idea was that Artificial Intelligence is the future of work, and it will serve to move the world forward.

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German-American Conference at Harvard

The German-American Conference on leadership, business, politics, culture and more will take place at Harvard in October. Tickets are still available. Why attend?

“Business and Innovation has been at the heart of the German American Conference since its very inception. We explore the latest emerging trends that drive growth and prosperity on both sides of the Atlantic. This year we will take you to the next level! Meet the hottest Startups from Silicon Valley to Berlin in our Innovation Lounge and feel the vibe in our engaging workshop sessions.”