commerce germany OFFICIAL PUBLICATION OF THE AMERICAN CHAMBER OF COMMERCE IN GERMANY

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Shaping the World of Tomorrow Ninth Transatlantic Business Conference

Cover Story: Business Intelligence Growth Company Forum: Start-Up Financing Access Your Global Network: AmCham EU Investment Region: North Rhine-Westphalia

amcham germany viewpoint ‘Living Services’ Are the Next Wave of Digitization

The digitization of everything allows us to understand consumers in a more comprehensive way than ever. Add to this the ubiquitous technologies of what is commonly referred to as the Internet of Things, and the result will be 'living services': services which are designed to tailor themselves in real time around individual shoppers, patients and citizens. By 2020, we can expect living ser- vices to have a significant impact on our homes, bodies, money, shopping, cities, learning and transport. This third wave of digitization following the internet and the rise of mobile devices will unleash new competitive forces in business, requiring all organizations to rethink their business practices. What will these services look like? At a high level, they will blend our digital and physi- cal worlds like never before. In practice, imagine your music playlists and movie library will travel Frank Riemensperger with you from your home to any airplane and hotel. The service will simply know where you are Geographic Senior Managing Director Germany, Switzerland, Austria at Accenture; and connect to your current environment. Regardless of their origin, living services will be fueled by Executive Vice President, AmCham Germany data. Cisco projects that by 2019 the connection of people, processes and things will be generating amounts of data equivalent to nearly 600 trillion hours of streaming music – per month. This has two major implications for companies. The first one is obvious: there are concerns for data privacy and the ethical use of data, especially in Germany. Businesses will need to recognize the limitations of what is acceptable and not to assume that just because a service can do The third wave of digitization something, it should. To further address this sensitive topic they should also consider in- will unleash new competitive creasing data transparency, security, and user control over data – and boosting the tan- forces in business, requiring gible benefit of services, so consumers are more willing to ‘pay’ with their data. all organizations to rethink Secondly, companies are more than ever required to increase their data savviness. their business practices This includes their ability to obtain actionable insights into the individual customer in real time from the data deluge. This, too, means they need to think about data when- ever they are creating a service. It is about collecting data points that can be gathered while the service is live. Only if there is a flow of data out of the service, a company can understand the cus- tomer context, feed it back into the service and change it in real time. Do German companies have the capabilities to design living services, yet? Many are still manufacturing- driven and focused on digitizing products and processes whereas US businesses are putting more emphasis on providing customers with digital experiences. Saying that, with its strong background in engineering – combined with their excellence in sensor technology and embedded software – German industry is well po- sitioned in the race for adaptive services around smart products. We may not be first out of the blocks when it comes to building living services, but when we do, we’ll do it thoroughly.

December 2015 commerce germany 3

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commerce germany – topics 2016 March 2016 Adding Value through Diversity – CR and Diversity Management · Thanksgiving 2015 and New Year’s Receptions 2016 June 2016 Innovations – Driving the Economy · Report on 113th Annual Membership Meeting 2016 · Presentation Business Barometer September 2016 Working World – the Future of Work · Interns‘ Arrival: Continuation of AmCham Germany‘s Successful Initiative “US-German Internship Program” · Top 50 US Companies in Germany · AmCham Germany Summer Festivals December 2016 Digital Transformation – Global Network · AmCham Germany‘s 10th Annual Transatlantic Business Conference · AmCham Germany Transatlantic Partnership Award AmCham Germany Yearbook 2017 Our membership directory and American-German business guide is one of the most important references for trans- atlantic business relations. The AmCham Germany Yearbook 2017 will be published in December 2016. Take advantage of our Early Bird Discount All advertisers who book by February 29, 2016 will be granted an Early Bird Discount of 15%! Ask for more information Call Sabine Karbowy (+49 6127 9993150) or Barbara Böhnke (+49 178 7988882), send an email to [email protected] or visit our websites. www.acc-verlag.de / www.amcham.de

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cover story

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20 policy issues: TTIP – Essential Driver for Prosperity and Growth

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amcham germany events commerce germany 2016 • AmCham Germany Yearbook 2017 10 Ninth Annual Transatlantic Business Conference – Shaping the World of Tomorrow commerce germany – topics 2016 18 event report March 2016 Adding Value through Diversity – CR and Diversity Management · Thanksgiving 2015 and New 24 special report: Growth Company Forum Supports Start-Up Ecosystem Year’s Receptions 2016 June 2016 Innovations – Driving the Economy · Report on 113th Annual Membership Meeting 2016 · Presentation Business Barometer September 2016 Working World – the Future of Work · Interns‘ Arrival: Continuation of AmCham Germany‘s chamber news Successful Initiative “US-German Internship Program” · Top 50 US Companies in Germany · AmCham Germany Summer Festivals 22 Board of Directors Discusses Digital Mobility December 2016 Digital Transformation – Global Network · AmCham Germany‘s 10th Annual Transatlantic Business Conference · AmCham Germany Transatlantic Partnership Award 22 amcham germany in the press AmCham Germany Yearbook 2017 Our membership directory and American-German business guide is one of the most important references for trans- atlantic business relations. The AmCham Germany Yearbook 2017 will be published in December 2016. Take advantage of our Early Bird Discount 25 new members All advertisers who book by February 29, 2016 will be granted an Early Bird Discount of 15%! 27 chamber calendar Ask for more information Call Sabine Karbowy (+49 6127 9993150) or Barbara Böhnke (+49 178 7988882), send an email to [email protected] or visit our websites. Cover: Penny Pritzker, US Secretary of Commerce, at Ninth Annual Transatlantic Business Conference www.acc-verlag.de / www.amcham.de

December 2015 commerce germany 5

2015 Anzeige Topics cg2016 cg5-2015.indd 1 26.11.2015 12:43:31 cover story

Data analytics From data to information Digital business models

Business Intelligence – At the Heart of the

Consumer Digital technology has thoroughly changed communication between companies and consumers. Mobile devices are ubiquitous and the Internet of Everything is expontentially increasing the masses of data created. Business Intelligence (BI) helps companies to transform raw data into useful information.

6 commerce germany December 2015 Data Centers – the Backbone of Digitization

ndustry 4.0, the Internet of Everything (IoE), engines and form the foun- cloud computing, online shops and music and dation for the digital society. Data centers provide the basis video streaming services have become indis- As one of the world’s for successful digitization pensable in our everyday lives as products of most interconnected digital Ithe digital age. In addition, we are also seeing hubs, Frankfurt generates applications and strategies more and more digital ecosystems at the corpo- impetus for growth in Ger- rate level that enable companies in different in- many. Due to the presence Peter Knapp Managing Director dustries to network. Connected cars are a good of a multitude of network Interxion Deutschland GmbH example. Here, automakers and IT giants will operators in the area and its www.interxion.com be working together as partners on connecting the proximity to the core infra- smartphone with the electronics inside the vehicle. structure of the world’s larg- But digital ecosystems are also forming inside est internet exchange node DE-CIX, Interxion has nections to different cloud platforms without hav- data centers. They provide a digital marketplace for recently established one of Germany’s largest cloud ing to use the public internet. connecting customers with one another as well centers at its data center campus in Frankfurt/M. Digitalization is driving demand for data as with carriers and other service providers, and Various market players from a single industry are ­center services: Data throughput at the DE-CIX ­enable the provision of services via cloud-based setting up operations to form a digital community alone is doubling every year, and IT trends will applications. This opens up new possibilities for in- and to exchange data across the shortest distances continue to drive this trend in the future. teraction and value creation for all parties involved. with low latency and excellent connectivity in ac- Today, data center providers are not only respon- Thanks to their high-performance infrastruc- cordance with the German data protection laws. sible for continuously ­investing to expand their cur- ture – optimized to meet current demand – data Many companies based in Germany are re- rent capacities.­ They also strive to provide energy- centers provide the basis for successful digitization luctant to store their sensitive data in the cloud. efficient, cost-effective and more secure technolo- applications and strategies. By 2020, data centers More and more data center providers are there- gies and services that meet the digital needs of are expected to take over the role of economic fore offering their customers direct, secure con- the future and establish digital ecosystems. 

Data Analytics – Developing New Banking Solutions

ata Analytics encompasses the process- proach will create uniform es of accessing, inspecting, cleaning, data governance across Data analytics is used to ­assessing and modelling raw data to dis- the organization, as well develop services for customers cover information. Analytics is nothing as consistent definitions, Dnew for ING, the bank has been working with it measurements, policies and helping them to stay ahead in for many years, mainly in risk, fraud prevention and processes. Additionally the life and business marketing. Every day, terabytes of information are bank is setting up a data Roland Boekhout created and stored across the ING network. And lake as a central reposito- CEO while keeping this secure remains a top priority, ry for all internal and exter- ING-DiBa AG www.ing-diba.de ING has just started thinking about how data ana- nal data with the purpose lytics can be used to develop services for custom- of better data management ers helping them to stay ahead in life and business. and data quality assurance. that technology and data analytics methods have Current data can show customers their past As ING operates in many countries, the bank to offer. For this purpose, ING has just recently set transactions. This is like looking into a rear mirror. needs to accelerate development, standardizing up an advanced analytics department. Its purpose But the data also holds the possibility to look for- approaches to expand them to other countries. So is to support business units with knowledge and ward, for example by informing customers what in addition to improving everything in relation to skills in machine learning and big data technol- their upcoming transactions are so they can bet- the data, the bank is also enhancing its customer ogy as well as to promote knowledge transfer and ter manage their money. intelligence capabilities by improving and stand- innovation across the organization. As data analysis processes become more so- ardizing the data model, the analytical tooling, All of these actions support the bank’s strate- phisticated, access to and the quality of data is in- model development and knowledge. gic priority to provide the high-quality information creasingly important. To tap into this field, ING is Another area is advanced analytics. New in- and advice customers need so they can make bet-

© gheatza/iStock/Thinkstock investing in its analytical capabilities. The new ap- novative services build on the new possibilities ter informed financial decisions. 

December 2015 commerce germany 7 cover story

Big Data – Getting in Shape for Digital Transformation

You have to know the past if you want to future as well. That technol- shape the future.” This is a mantra often ogy is already here, and it The Big Data Lab offers a foun- heard from historians, and the basic prin- is called big data analytics. ciple that Business Intelligence (BI) origi- Big data analytics, put dation for companies to create “nated from. Looking back is still important in a simply, is the ability to un- new types of organizational number of areas – knowing how a business has derstand and make use of structures and processes performed in the past remains an essential man- big data. It is one of the agement tool. keys to mastering the dig- Wolf Lichtenstein CEO DACH Region, SAS However, conventional BI is struggling to keep ital transformation. But SAS Institute GmbH up with the demands placed upon it in this era of many companies are still www.sas.de digital transformation. Disruptive processes with having a difficult time with unforeseen consequences demand new capabili- it because big data requires ties, and BI has reached the limits of what it is ca- thinking and actions that stand in opposition to time has come to implement it. What is needed pable of. It needs to make room for a technology the way enterprises have traditionally grown. is a link between these ‘old’ and ‘new’ worlds, a that can link historical data to real-time informa- Most managers prefer evolutionary transition, space that allows companies to experiment with tion, aggregate internal and external data in large not a sudden revolution. big data in a protected environment. quantities, and analyze that data in a way that lets But the revolutionary change in how we use The Big Data Lab is just such a space, making it us look not only back to the past, but on into the and analyze data has already begun. Now the possible to quickly and easily test ideas, or even de- velop entirely new business models. It is something of a training center for disruptive thinking – there are no predefined business cases here. The goal is not to develop completely airtight solutions. The European-American Business Big Data Lab offers a foundation for companies IHRE BRÜCKE IN DIE USA Organization, Inc. (EABO) Sven C. Oehme, CEO to create new types of organizational structures Consulting: Market Research, Sales 405 Lexington Avenue and processes they will need if they want to be The Chrysler Building, 37th Fl. ready for digital-first markets. Representation, Investment Strate gies, New York, NY 10174 Strategic Partner Search, Event Planning Telephone: +1 212 972 3035 The situation is also a historical opportunity & Execution Facsimile: +1 212 972 3026 for CIOs. Traditionally operating within narrow Email: [email protected] Tax Services: Cross-border Corporate & constraints of translating specific business cases Individual Income Tax Planning, Estate Tax into IT solutions, the pressure to digitize has given Planning, Avoidance of Double Taxation, CIOs a completely new frame of reference for driv- Compliance, Back Office Services ing business success. A unilateral approach won't Legal Issues: Incorporation, Immigration work anymore. CIOs need to close ranks and align www.eabo.biz & Collection Services. with their CEOs, and other parts of the organiza- tion – and the reverse is equally true. 

8 commerce germany December 2015 2015_AnzeigeEABO_neu.indd 1 21.10.2015 17:48:49 member point of view

Public Safety: “Technology can help predict problems before they become catastrophes”

▾▾Within the next ten years the world’s population is expected to increase formation at the right time, independent of device or network. This is a ­major by 1 billion people. More than 60% will live in urban areas. At the same time, shift toward design-led, analytics-enabled, cloud-based and mobile-centric digitally generated information will grow exponentially. What does Big solutions – a shift to mission-critical intelligence. Data mean for the field of public safety? ▾▾Let us focus on the German market. What are the current challenges for ▵▵These global megatrends underline the need for public safety users to public safety organizations in 2016 and beyond? shift from relying on mission-critical communications to more comprehen- sive mission-critical intelligence. The growth of data and the introduction ▵▵Over the past years, the German public safety authorities have gone of analytic tools to organize that data are driving the trend in public safety through a transition from analog to digital and most of them are now using and other mission-critical organizations toward increasingly sophisticated the nationwide Terrestrial Trunked Radio solution (TETRA). As data becomes intelligence-led operations. more relevant this secure and highly available voice communication net- Smart data gathering, analysis and interpretation do not only allow to work will need to be complemented with real-time data access and secure shorten response times, but also have the potential to actually change the applications – regardless of terminal, transmission network and application. nature of the incident itself. Instead of reacting, we can begin to predict and Our public safety organizations require a solution that meets these require- then prevent, so that our cities become safer places to live, work and thrive. ments as well as taking the limitations of available, dedicated frequencies into account. In some countries we see a trend towards hybrid solutions, whereby ▾▾How can technology contribute to enable safer cities? mobile broadband services are delivered via the Long Term Evolution (LTE) standard from existing mo- ▵▵Public safety customers are expected to take vast volumes of data – bile commercial networks. including photos, video, social media, sensor networks and more – and trans- Together with Ericsson, form these into real-time intelligence. Tasks that were done manually yester- ­Motorola Solutions has al- day can be automated today. This creates new opportunities for public safety ready established converged and mission-critical commercial organizations. dedicated voice and LTE net- Christoph Thomas The application of smart analytic tools enhances the value of any kind of works in various countries Managing Director Motorola Solutions data and generates intelligence led responses. It also creates a seamless col- providing future-proof pub- Germany GmbH laborative environment that connects people, allowing access to the right in- lic safety LTE solutions.  www.motorolasolutions.com

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TRANSATLANTIC The Transatlantic Marketplace: Business Conference Entrepreneurial Responsibility in a Changing World Ninth Annual Transatlantic Business Conference Strategic inspiration and impulses for the economic and political partnership

John B. Emerson Penny Pritzker US Ambassador US Secretary to Germany of Commerce

Dr. Paul Achleitner Chairman of the Supervisory Board Deutsche Bank AG

Shaping the World of Tomorrow

Frankfurt/M, Oct. 28-29. In light of recent geopolitical developments, the theme of this year’s conference “Entrepreneurial Responsibility in a Changing World“ could not have been chosen any better. To cope with today’s challenges, global megatrends and fast-paced digitization, Germany, Europe and the US will need close transatlantic cooperation. At the conference, entrepreneurs and decision makers from both sides of the Atlantic discussed ways to deepen economic relations, address global megatrends and shape the world of tomorrow.

ndeed, since last year’s conference, the ic digitization impacting all areas of life. To move “The speed at which global change is tak- world has changed. Europe has been and is forward, the US must rely on more than just trade ing place is new,” summarized Michael Reuther, addressing major challenges inside the EU and the service sector. Member of the Board of Managing Directors at and internationally – from the Greek financial All these topics were touched on during Commerzbank AG, when he opened the confer- Icrisis to political crises in Syria and Iraq and the this year’s Transatlantic Business Conference in ence atop the Commerzbank Tower in downtown conflict in Russia/Ukraine. In Germany, the cur- Frankfurt/M, which brought together around 500 Frankfurt/M. TTIP is one of the key topics to deal rent refugee crisis is bringing major challenges. decision makers from German, American and with the future, he explained: “We cannot afford To cope, Germany and the EU will need a strong multinational companies as well as representa- to cut ourselves off from international trade.” alliance and sustainable growth – which can only tives from politics and society to discuss objec- Geostrategic challenges facing the transatlan- be generated through close transatlantic cooper- tives and challenges for the EU-US partnership in tic partnership were also the topic of the evening’s ation. Meanwhile, the US is experiencing a rein- these fast-paced times and how to deepen eco- opening discussion. Kurt Tong, Principal Deputy As- dustrialization and is at the forefront of a dynam- nomic relations. sistant and Secretary for the Bureau of Economic

10 commerce germany December 2015 and Business Affairs at the US Department of State, called ally interconnected world of the 21st century: “TTIP is “The theme is around the on the audience to “concentrate on shared values and a a common-sense­ way to more easily connect European complementary aspects of long history together instead of on the differences in cul- entrepreneurs to American consumers – and vice versa.” digitization and industry, and how ture and business.” José Manuel González-Páramo, EU The Ambassador is aware that the public debate in Ger- we can help eachother Chair of the Trans-Atlantic Business Dialogue (TABD) and many does not share this view, but he is convinced that [as transatlantic partners].” Executive Member of the Board of Directors at BBVA, em- concluding TTIP would advance a pro-growth agenda at Julie Sweet phasized that “trade brings peace, because it connects a time when much of the EU is struggling economically. Group Chief Executive North America Accenture people to people.” Panelists Dr. Johannes Thimm, Deputy Jürgen Thumann, former President of the Federation Head of the Research Division The Americas at the Ger- of German Industries (BDI), picked up where Ambas- J man Institute for International and Security Affairs, and sador Emerson had concluded his speech, calling the Elmar Brok, Member of European Parliament, connected transatlantic economy “a lifeline of the global economy” “We can set the rules of trade the topics of business and politics. “How can we convince and urging for greater commitment for TTIP. “Headwinds together so nobody can undercut the people in Europe that the answer to future challenges must be taken as additional motivation to highlight the our high standards.” lies in closer collaboration?” asked Elmar Brok, pointing benefits of the free trade agreement,” he said. Penny Pritzker US Secretary of Commerce out that economic partnership also strengthens political The first panel discussion of the day then focused on solidarity. reindustrialization combined with digitization on both J sides of the Atlantic, comparing the strengths of the US Reindustrialization and digitization and the EU in global competition. While the US is expe- “Let us be standard setters instead riencing an industrial revival, Dr. Wolfgang Eder, CEO of of standard followers.” John B. Emerson The next day of the conference picked up this es- voestalpine, is concerned that Germany and the EU are US Ambassador to Germany sential question. “More – not less – transatlantic coop- falling behind. Julie Sweet, Group Chief Executive North eration will be the key to a successful future,“ empha- America at Accenture, described how the US found its J sized AmCham Germany President Bernhard Mattes in way after the financial crisis, reinventing itself in indus- his opening speech. He also underlined the importance try tied to digitization. “China is in a crisis, the US are celebrating their comeback – of successfully concluding TTIP negotiations as “another The conversation also touched on Germany and how self-confident is Europe at the bridge over the Atlantic“ that creates additional sustain- America’s divergent approaches to adapt to ­digitization. moment?” able growth for all partners. Wayne T. Smith, Member of the Board of Executive Dr. Christoph von Marschall This was confirmed by John B. Emerson, US Ambas- ­Directors at BASF, praised the entrepreneurial spirit of Chief Diplomatic Correspondent sador to Germany. “Today’s security challenges cannot US companies and their openness for innovation and Der Tagesspiegel be solved at a local or even national level alone. Rath- technology. According to him, in Europe there is far more J er they require multinational, regional and transatlan- reluctance to embrace new technologies.­ Therefore he tic cooperation,” he said, underlining Germany’s­ role as believes that bringing both sides together on new tech- “Don’t be afraid of partnering, one of America’s strongest allies. He also pointed out nologies would create ­tremendous opportunities. Panel- and don’t be afraid of failure.” the importance of economic cooperation in the glob- ist Prof. Siegfried Russwurm, Member of the Managing Dr. Thomas Kremer Member of the Board of Management for Data Privacy, Legal Affairs and Compliance Deutsche Telekom AG

J

“Germany has already missed the internet of individuals – like Apple, Google etc. Now the Internet of Things and Industry 4.0, including Opening Panel Big Data and cloud computing, offer tremendous opportunities.” Dr. Paul Achleitner Chairman of the Supervisory Board Deutsche Bank AG

J

“If not a tradition, at least the US has 300 years of experience with the new.” Andy Goldstein Managing Director Deloitte Digital GmbH Julie Sweet Andy Goldstein Jürgen Thumann

For full coverage of the event, please visit www.transatlantic-marketplace.com

December 2015 commerce germany 11 special feature

ORGANIZERS Board at Siemens, agreed and said it was important that the Atlantic. Thomas Kremer urged authorities to finalize the digital and the real world met at some point. an improved Safe Harbor framework to provide compa- nies with the certainty needed for secure data transfer Transatlantic cooperation is key between the US and the EU. The discussion eventual- ly turned to aspects of how companies can accelerate One of the highlights of the day was the keynote development of digital solutions. “Speed is everything speech by Penny Pritzker, US Secretary of Commerce. in this field,” emphasized Gisbert Rühl. Andy Goldstein IN COOPERATION WITH She stressed the vital importance of a strong, enduring added on the different approaches to digital develop- alliance between the US and Germany: “We do not and ment: “Like all big companies, we have to put on ‘digi- will not always agree. But only together can we tackle tal eyeglasses’ – for this we can start our own company, the toughest, most intractable, most pressing political go to startups or even rent a startup. These possibilities and economic problems on our planet.” Pritzker also mean that we have to take a close look before investing.” CO-ORGANIZERS promoted the conclusion of TTIP, saying that “the United In his dinner speech, Dr. Paul Achleitner, Chairman of States and Germany share the view that open, competi- the Supervisory Board of Deutsche Bank, called upon the tive markets offer the best opportunity for us to enhance guests to intensify transatlantic cooperation: “Germany is quality of life for our families, workers, and communities. already one of the most important trade and investment TTIP is how we are going to get there.” partners for the US. With the Internet of Things and In- The closing panel of the conference with panelists dustry 4.0 we could also be a strong partner in the digital PARTNERS Dr. Thomas Kremer, Member of the Board of Manage- field. And regarding the capital market, we just need to ment for Data Privacy, Legal Affairs and Compliance at make sure to seize European growth opportunities and Deutsche Telekom; Andy Goldstein, Managing Director not give them all away.” of Deloitte Digital; Martin Risau, Senior Vice President, During the two days, participants and speakers repeat- Analytics and Data Management Practice at HP Enter- edly underlined the importance of the transatlantic part- prise Services; and Gisbert Rühl, CEO of Klöckner & Co nership. “It was about business, about people, and about SE, took a closer look at the transatlantic data space. The collaboration between the two large economic spheres discussion covered the consequences of the suspension of the world – US and Europe,” as summarized by Frank of Safe Harbor for companies working on both sides of ­Riemensperger, Vice President of AmCham Germany. 

SUPPORTERS

CMS_LawTax_CMYK_over100.eps

Wayne T. Smith Georg Bräuchle Elmar Brok KurtKlaus Tong Frankenberger

MEDIA PARTNERS

Mathias Müller von Blumencron Dr. Johannes Thimm Prof. Siegfried Russwurm Dr. Christian O. Zschocke

DINNER RECEPTION HOST

Dr. Roman Friedrich Martin Risau José Manuel González-Páramo Dr. Thomas Kremer

12 commerce germany December 2015 Dr. Wolfgang Eder Michael Reuther

DIN Workshop

Rebecca Kelly Gisbert Rühl Kristie Pulvermacher

White & Case Workshop

Carsten Knop Dr. Christoph von Marschall

Deep Dive into Topics of Transatlantic Business Workshop sessions picked up where panels left off on questions of digitization and business strategies.

esides the broad overview the speeches Staying on top of the latest developments is Meanwhile, another workshop hosted by provided during the conference day, par- similarly important for those in charge of com- White & Case discussed integration strategies and ticipants could choose among nine differ- pliance at multinational companies, the target success factors. Dr. Andreas Knebel and Dr. Robert ent workshops taking a deeper dive into group for Morgan Lewis’ workshop on interna- Weber, Partners at White & Case in Frankfurt/M, Bselected topics of transatlantic business such as tional business and legal compliance. Together addressed key issues involved in successful inte- digital industry convergence. The workshop host- with his colleagues, Dr. Christian O. Zschocke, gration such as legal issues together with their ed by Accenture Strategy provided some insight on Partner at Morgan Lewis, explained how compa- international colleagues from Los Angeles and how new technologies and business models create nies can design and implement an international London. cross-industry opportunities and how traditional compliance program. Cyber risks and data security rank increasing- industries take their future into their own hands. Medical technology is highly regulated, but it ly high on the agendas of many business leaders At another workshop conducted by Price-­ is also an innovative sector with strong growth as was evidenced in the workshop conducted by waterhouseCoopers (PwC), participants engaged potential. Sybille Gabler from DIN e.V. moderated Marsh. Participants heard which issues should be in discussions about whether or not German com- a workshop with experts from the healthcare sec- addressed to enhance information security and panies have the right mindset and openness for tor which presented innovations from within their learned about instruments like cyber insurance innovative technologies to develop a digital cul- companies. With regards to TTIP negotiations, she policies as a possibility to transfer risks. ture and how both countries can learn from each underlined how important common standards are In an interactive workshop, Andy Goldstein of other’s strengths. in this sector, because they help open up an oth- Deloitte Digital shared his experience from years The State of Wisconsin, together with the re- erwise highly regulated market by reducing costs working as a serial entrepreneur and angel in- gional development platform Milwaukee 7, ex- for approval processes. vestor. He introduced the concept of ‘corporate plored strategies for tapping into investment In the afternoon, Commerzbank’s workshop intrapreneurship’ and the key drivers: top man- opportunities in the US, giving an update on shed light on the role of the US Dollar in interna- agement and innovation culture. “It’s not about emerging trends and current issues ranging from tional financial markets compared to other cur- creating ‘intrapreneurs’, it’s about finding and taxation and incentives to HR policies. rencies like the Euro and the Chinese Renminbi. recognizing them,” he said. 

December 2015 commerce germany 13 member know-how

Digitization: Multiple Channels for Customers

ew things are currently being dis- Yet, it is no longer a matter of just and optimized presentations on digital cussed as much as digitization. In supplementing existing sales channels platforms. retail, digitization is seen at times with a web shop – but of merging all ac- In the digital era, these competencies as a source of hope, at others as cess points to the customer and offering are required everywhere: on the desk- Fa controversial issue – and in station- added value at every single point top, in shopping ary retail often even as a threat. That is of contact. What is needed is the apps and on mo- hardly surprising. The force with which individual, emotional shopping Multichannel is the bile sites, in social it is changing the market and custom- experience – far more than com- media and blogs er behavior is enormous. No company in paring prices and products online. key to retaining just as much as on the sector can just sit and watch or go The teleshopping sector has existing customers, TV and in custom- Mathias Bork with the flow. a few aces in hand here. Unlike er care centers. An CEO gaining new ones QVC Handel LLC & Co. KG Constantly developing your own busi- pure online or mail order firms, and ensuring addi­ eye for innovations Plockstr. 30 ness model and partly reinventing it is the it has always focused on prod- is vital, too – after 40221 Düsseldorf tional growth T +49 211 3007-5070 watchword in teleshopping too: moving uct presentation, interaction, all, digital develop- E [email protected] away from the focus on TV as the only advice and service. It is adept ments are taking W www.QVC.de sales platform and toward integrating all in using moving images which are al- place at breakneck speed. The objective relevant communication and distribution so important online. And it takes cus- is not new, but far more clearly defined: channels. Multichannel is the key to re- tomer feedback into account almost in to fulfill customer requirements across taining existing customers, gaining new real time, using, for example, adapted all channels with pinpoint precision and ones and ensuring additional growth. product presentations in live programs to provide entertainment. 

Taxpayers Worldwide, Protect Your Rights

ig Data is a prevailing topic for account balance or value. Criminaliza- cal tax office might cause shaky knees, businesses of all sizes and coun- tion of the ordinary taxpayer may be the now more than ever – even if there is tries today – and for global tax consequence. nothing to hide. Does David still have authorities as well. Most US per- Beneficiary ownership of compa- a chance against Goliath at all? Data Bsons in Europe may have experienced nies and trusts inevitably becomes an leeches? Personal rights? Federal Da- this with FATCA, the Foreign open book. Tax inves- ta Protection Acts? The number of tax Account Tax Compliance Act tigations in all OECD court cases decided in favor of the tax- which was enforced by the The Big Data countries will increase. payer is speaking a clear language. Yes, IRS over the past five years. gathered by local The bank and fiscal se- it's worth defending your rights as a tax- Now, there is another tax authorities is a cret finally seems to be payer.  Catharina B. Dehnen ‘data hunter’ in the starting a relic of the past. Specialist lawyer for tax law DEHNEN. Rechtsanwälte blocks: CRS, the OECD Com- treasure trove The Big Data gath- Prinz-Georg-Str. 91 mon Reporting Standard, a ered by local tax au- 40479 Düsseldorf T +49 211 449707 global standard for an Auto- thorities is a treasure E [email protected] matic Exchange of Information (AEOI). trove – considering the confidential in- W www.dehnen.de Germany, along with most EU-mem- formation that the ordinary individual ber states, will implement CRS by 2017. or corporate taxpayer provides, more Inspired by and essentially modeled af- or less voluntarily, to the tax authorities ter FATCA, the scope of reporting under permanently during each tax year. CRS will be even wider. All non-domestic And it becomes even more valuable accounts of tax residents of OECD mem- with extensive international exchange ber countries will be subject to review between the countries and digital pro- and potential reporting, regardless of cessing. In future, any letter from the lo-

14 commerce germany December 2015 executive member spotlight

Innovation and Flexibility are Key for Digital Transformation

Advisory firm for Strategy, M& A and Transformation Multi-industry expertise Digital transformation

rom Netflix to Uber, from WhatsApp to Shape digital strategy: Looking at the diver- Roll-out: In the subsequent roll-out phase, Booking.com: Platform concepts and self- sity of newly emerging business models, strategic transformation is implemented from the training reinforcing network effects are typical for patterns of behavior can be difficult to detect, es- of employees to changing the affected structures those successful companies that – in the pecially for historically rather traditional compa- and processes. Fcourse of the digitization process – are turning nies. Digital business models range from the sale Change management and communication: entire market mechanisms on their heads. How- of products with digital added value to data as a When developing new business models, change ever, the majority of established companies are still stand-alone business. management must be implemented very early on, not adequately prepared for digital transforma- Draw up a transformation program: A transfor- in order to create the necessary willingness to tion. Energy suppliers, media companies, retailers mation program activates or recruits staff with the change amongst employees, and to support the and financial institutions are faced with the chal- appropriate skills and expertise and establishes whole process. lenge of dealing with these changes proactively. partnerships and technological concepts. Digital governance: In terms of governance, In order to do this, they need to be able to digitization needs to be a top priority and sup- innovate and to be highly flexible. These two as- ported by the board of management. But top- pects are key factors for successful digital trans- down priority is not enough. Self-regulating sys- formation. goetzpartners actively supports com- ▸ ABOUT THE COMPANY tems must be established and the energy to drive panies in the transformation process, following a change must be created throughout the organi- set of seven steps. goetzpartners is an independent advisory zation.  firm for all key issues of entrepreneurial Create awareness and set the course: Formats activity: Strategy, M&A, Transformation. With like digital boot camps for employees can be used 250 professionals operating out of 12 offices to highlight the basic mechanisms of digitization, in nine countries, it advises clients world- such as platform thinking, self-reinforcing network wide in all key industries. The company ranks among the ten best-performing German effects and the power of (personalized) data. Sebastian Olbert ® Develop business models: When ideas are de- advisory firms (Lünendonk ). In the “Best of Partner Consulting” awards, it took 1st place in the goetzpartners Management veloped and tested, mistakes happen – in the di- “Project Excellence” (2014) category and Consultants GmbH gital world this is accepted and even desirable. was awarded in the “M&A, Finance and Risk Prinzregentenstr. 56 80538 Munich For many companies, this type of error culture is Management” category (2015). T + 49 89 290725-0 a revolution in itself. W www.goetzpartners.com

December 2015 commerce germany 15 investment region

North Rhine-Westphalia: Gateway to Europe

A dynamic business location with excellent infrastructure and a qualified workforce, situated right in the center of Europe – North Rhine-Westphalia is Germany’s number one investment location. Garrelt Duin, Minister of Economic Affairs, Energy, Industry and Commerce in North Rhine-Westphalia, Petra Wassner, CEO of NRW.INVEST GmbH, and Dr. Alexander Schröder-Frerkes, AmCham Germany North Rhine-Westphalia Regional Committee Chair, discuss the wealth of investment opportunities in the region.

▾▾What industries in North Rhine-Westphalia ▵▵Wassner: The region’s economic structure is to a logistic hub and service-driven region. Two are particularly strong? well balanced between traditional and future-­ thirds of the work force is employed in the ser- oriented sectors, covering, among others, the vice sector. Health and energy are also vibrant ▵▵Duin: North Rhine-Westphalia is the indus- fields of automotive, biotechnology, chemicals, sectors. The Duisburg harbor as well as the com- trial heart of Germany and one of the top in- energy, environmental technologies, telecoms, bined harbors of Düsseldorf/Neuss/Cologne and dustrial regions in the world. The former coal logistics, media and the digital economy. Krefeld are at the core of one the largest logistic and steel region has turned into a leading high- hubs in Germany. tech location. A number of North Rhine-West- ▵▵Dr. Schröder-Frerkes: North Rhine-West- The Rhineland is well known for its pharma- phalian companies rank among the world lead- phalia is also the largest of the German federal ceutical industry and a growing life science sec- ers in their fields – companies with a global states in terms of population and very densely tor. Additionally it is one of the global hubs for reputation such as Bayer, Deutsche Telekom, populated. It is divided in different regions with telecom and IT. Henkel, Lufthansa or ThyssenKrupp, as well as individual strengths and focuses. In the middle of all lies Düsseldorf, the capital many hidden champions from the famous Ger- The Ruhr area with its historical roots in the of North Rhine-Westphalia, which is the second man Mittelstand. heavy industries – coal and steel – has changed largest financial center in Germany, number one

16 commerce germany December 2015 ­Europe, we are looking for new concepts for mo- bility and smart housing. Additionally, we expect strong investments in the public infrastructure within the next decade.

▵▵Duin: Due to our industrial base, the region is one of those dynamic locations where the concept of smart factories – Industry 4.0 – will become ­reality. At the same time, digitization is happen- ing throughout all sectors in region. Digital com- panies along the whole value chain can benefit from investment opportunities in our region.

▾▾How does the AmCham Germany network in North Rhine-Westphalia assist companies to take

© PrintEquipment/iStock/Thinkstock full advantage of the region?

▵▵Dr. Schröder-Frerkes: AmCham Germany provides for one of the best networks in the re- gion. With contacts in politics, business and sci- ence on all levels we can assist any potential in- vestor. Furthermore, we bring together investors in advertising and consulting and number two in through the entire process of establishing a busi- and representatives of existing businesses to ex- the legal services industry. ness in the region. change ­experiences on all important topics.

▾▾How can companies tap into this infrastruc- ▾▾What emerging sectors in North Rhine-West- ▵▵Duin: I can only agree here. The American ture with their investments? phalia should investors know about? Chamber of Commerce in Germany has a large and very active chapter here in Düsseldorf. ▵▵Duin: North Rhine-Westphalia welcomes for- ▵▵Dr. Schröder-Frerkes: The life sciences are eign companies and especially investors from the already strong, but also still rapidly growing. ▵▵Wassner: NRW.INVEST is a member of United States. Foreign companies can benefit ­Alternative energies and smart metering are hot ­AmCham Germany and works closely with the from the central geographical location, its prox- topics, and the recycling sector has huge poten- North Rhine-Westphalia Regional Chapter. The re- imity to relevant markets, excellent infrastructure tial as well. gional members can benefit from a wide variety and competitive real estate prices compared to of seminars and business luncheons. These events our European neighbors. Many US companies, for ▵▵Wassner: Since North Rhine-Westphalia is provide opportunities to discuss current topics. They example 3M, Ford, FedEx and UPS, have chosen one of the most densely populated regions in are an ideal platform for networking.  North Rhine-Westphalia as their headquarters in order to tap into the European market from here.

▵▵Dr. Schröder-Frerkes: From Düsseldorf, for example, most major markets in Europe can be reached with just a one-hour flight. GERMANY AND THE US Keeping the wheels of industry turning Düsseldorf and Cologne are the main hubs for incoming direct investments. Especially Düs- The transatlantic economy accounts for around half seldorf with the largest airport in the region and of global GDP, with US-German trade at the heart of a well-known trade fair venue attracts many for- this activity. Find out what we can do for your eign companies. business: www.gtai.com

▵▵Wassner: The federal state of North Rhine- Westphalia attracts by far the most foreign inves- tors in Germany. NRW.INVEST, the state-owned economic development agency, provides one-stop service to support US investors and guides them

December 2015 commerce germany 17 AmCham_Anzeige_118x61.indd 1 22.04.15 16:28 event report © Martin Stollberg

FINANCING INVESTMENTS IN TIMES OF CRISIS

Stuttgart, Sept. 14. The around 50 partici- into perspective. The EIB supports projects that © Jürgen Markus pants of this Business Luncheon listened to significantly contribute to growth and employ- Dr. Werner Hoyer, President of the European ment in Europe, offering good terms and long- SUSTAINABILITY IN INDUSTRY Investment Bank (EIB) and former FDP politician, term financing. Pictured here are (from left): Prof. explain the significant role of Europe’s long-term Gerhard Wegen, Baden-Württemberg Regional Düsseldorf, Sept. 30. Energy and Sustainabil- lending institution in supporting crucial invest- Committee Chair; Hoyer; Spiridon ­Sarantopoulos, ity – perspectives for the German industry was ment during times of crisis. Hoyer also put the re- General Manager at Hotel Steigenberger Graf the topic of this Business Luncheon. Around 40 cent flows of refugees and its financial dimension Zeppelin; and Axel Döhner, Director at BW Bank. guests from business and politics listened to a speech by Dr.­ Willem Huisman, President of Dow Germany and Chairman of the Board at GLASSES FOR THE MASSES Dow Deutschland Inc., followed by a discussion and Q&A session. Pictured here are (from left): Munich, July 28. Worldwide, approximately introduced the organization’s concept to provide ­Huisman; Dr. ­Alexander Schröder-Frerkes, North 150 million people need a pair of glasses but these people with lightweight, flexible spring Rhine-Westphalia Regional Committee Chair. cannot afford it. At this Drawing Room Talk on steel frames and prefabricated lenses. The eye- hidden champions in Bavaria, the founder and glass frames can be manufactured locally with president of charity organization EinDollarBrille simple bending machines with material costs GOOGLING CAFÉ EINSTEIN e.V. (OneDollarGlasses), Martin Aufmuth, amounting to approximately $1 only. Berlin, Sept. 15. Google invited participants of this Business After Hours event to its head- quarters on the boulevard Unter den Linden. Dr. Ralf Bremer, Company Spokesman of Google Germany, presented the company’s his- tory in Germany in a speech titled “From Sili- con Valley to Café Einstein.“ For non-Berliners: google it – it is a famous Berlin coffee house al- so located at Unter den Linden. A networking reception rounded off the event. Pictured here are (from left): Bremer; Carl Graf von Hohenthal, Berlin-Brandenburg Regional Committee Chair; and ­Sonia Kahn, Google Germany.

HOW FUTURE CARS MOVE THE AMERICAN DREAM

Frankfurt/M, Sept. 24. At the President’s Din- some people. “Technology has the potential to im- ner on the occasion of the International Mo- prove our life on this planet. We only need to han- tor Show IAA, Audi’s Chairman of the Board dle it in such a way, that it meets the needs of peo- of Management Prof. Rupert Stadler inspired ple, and not vice versa”, he said. Prof. Stadler also guests to think about the freedom of movement underlined the benefits of TTIP: “TTIP is not only and how the cars of the future move the Ameri- about dismantling tariffs. For the prices of German can dream. In his speech, he emphasized that ad- cars in the US, non-tariff barriers to trade amount vanced mobility is only possible through advanced to an equivalent of a duty rate of 26%.” Pictured technologies, although he is aware of the fears that here are (from left): Bernhard Mattes, AmCham increased interconnection and big data evoke in Germany President; Prof. Stadler.

18 commerce germany December 2015 SOLUTIONS FOR CLIMATE-FRIENDLY CITIES

Munich, Sept. 15. At this AmCham Germany Fo- rum, Rudolf Martin Siegers, CEO of Siemens Germany, provided some insight on solutions for climate-friendly cities. Globally, Siegers sees signif- icant scope for climate protection in densely pop- ulated urban areas, underpinned by IT solutions. Pictured here are: Siegers (middle); together with Bavaria Regional Committee Co-Chairs Christian von Sydow and Andreas Würtenberger (from left).

“UMPARKEN IM KOPF” REINDUSTRIALIZATION IN THE US Frankfurt/M, Oct. 14. With spectacular advertis- ing campaigns – “Umparken im Kopf”and “Das Düsseldorf, Sept. 16. The US is experiencing a neue OH!” – Tina Müller, Chief Marketing major reindustrialization. With its ambitious pro- Officer and Member of the Management Board at gram “Select USA”, it aims to attract more man- Opel Group, heralded in a changed image for the ufacturing companies to the country, ­creating Opel automotive brand. At this Business Lunch- major challenges for other business locations. eon she spoke about the comeback of the Opel At this Patron & Executive Member Roundta- brand and how the automotive company has ble event, Ute Wolf, Chief Financial ­Officer achieved this turnaround. “Opel is on the upswing at Evonik Industries and responsible for the again. We have increased sales and market share US market, gave a speech on reindustrializa- for two years in a row and will achieve growth this tion in the US followed by a lively discussion year as well,” she said. “With ‘Umparken im Kopf’ with AmCham Germany members Lutz Meyer,­ we have torn down the virtual wall between our Partner and Managing Director at Deloitte & products and our customers.” Pictured here are: Touche; Alexander Schröder-Frerkes, North Rhine-­ Dr. Mark C. Hilgard, Rhine-Main Regional Com- Westphalia Regional Committee Chair; and other mittee Chair; Müller. patron members. Pictured here are Andreas Povel, AmCham Germany General Manager, and Wolf.

DIGITAL DISRUPTION

Munich, Oct. 7. Participants of this AmCham ­Germany Forum discussed the topic of digital disruption. In an inspiring speech, Karl-Heinz Streibich, CEO, Software AG, shared his vision of Industry 4.0 that is driving innovation across a wide spectrum of industries around the globe. Pictured here are (from left): Streibich; Andreas Würten- berger, Bavaria Regional Committee Co-Chair. WELCOME JENNIFER GAVITO

DOS AND DON’TS IN US BUSINESS Munich, Oct. 14. Jennifer Gavito took over the helm as the US Consul General to Munich Düsseldorf, Sept. 22. This Expert Briefing event with in August, becoming the first woman to hold the Heuking Kühn Lüer Wojtek gave insight into the position. At this Welcome Luncheon, AmCham­ dos and don’ts of doing business in the US with ­Germany members from the region took the op- speeches from Michael Pauli, Specialist Lawyer portunity to welcome her and introduce her to the in Trade and Corporate Law at ­Heuking Kühn Lüer network. Pictured here are (from left): Burkhard­ Wojtek; and Hans F. Kaeser, Partner and Attor- Linke, AmCham Germany Bavaria Representative; ney at Law at Schiff Hardin LLP in New York. Both ­Christian von Sydow, Bavaria Regional Committee speakers complemented each other with their per- Co-Chair; Gavito; Christina Sharkey, Head of the spectives from each side of the Atlantic. The pres- Commercial Section at the US Commercial Service entations were followed by a networking recep- Munich; Andreas Würtenberger, Bavaria Regional tion. Committee Co-Chair.

December 2015 commerce germany 19 policy issues

AmCham Germany Reception Opens Security and Defense Conference

Berlin, Sept. 28. With a pre-conference reception, AmCham Germany opened of transatlantic values. Values such as a commitment to democracy, open econ- the 12th Annual Handelsblatt Conference on Security Policy and the Defense omies, rule of law and the right to intellectual property. And when compared Industry. In his opening remarks, US Ambassador John B. Emerson touched with other regions of the world, these values cannot be taken for granted.” upon the various crises Europe currently has to deal with and underlined the In order to address today’s challenges, the transatlantic cooperation in centrality of the European-American friendship and cooperation in address- politics and industry needs to be maintained and expanded, Mattes said. The ing and solving these challenges. transatlantic defense sector has created numerous success stories for over AmCham Germany President Bernhard Mattes focused on the same topic 60 years. However, since only few people know of these successes, both in- in his keynote address. Not only did he speak of the changing role Germany has dustry and politics need to enhance their commitment to tell these stories played in global politics since the early 1990s, he also addressed the conse- that all highlight the benefit of and need for strong transatlantic relations. quences that arise thereof: “These developments clearly hint at a growing sense In the ensuing panel discussion moderated by Sven Afhüppe, Chief Edi- of European responsibility for transatlantic security and defense. At the same tor of Handelsblatt, Brigadier General Carsten Breuer, the Federal­ Ministry time, our continent is torn between a desire for greater independence from of Defense’s Program Manager for the Whitepaper 2016, joined Ambassador the United States and stronger American leadership.” Despite some diverging Emerson and Bernhard Mattes in discussing solutions to the refugee crisis, views, Mattes stressed the importance of the transatlantic bond: “Europe and NATO’s expectation on Germany’s future role as well as upcoming challenges America are closer together than they are apart. Our mutual history – from to European and transatlantic security. America’s foundation by European colonists and immigrants to the reconstruc- AmCham Germany thanks Handelsblatt and Euroforum Deutschland for tion of post-war Germany by American GIs – has instilled us with a shared set co-organizing this event. 

Discussing Energy and Climate Policies

Berlin, Sept. 30. Members of the Environment & Energy Committee met with Paris (COP21), participants discussed various issues regarding climate, energy MdB Dr. Anja Weisgerber (CSU), Spokesperson of the Parliamentary Group and environmental policies, ranging from fracking and emissions trading to on the Committee on the Environment, Nature Conservation and Nuclear Safe- cogeneration and combined heat and power. The meeting was held on the ty. Against the backdrop of the upcoming UN Climate Change Conference in 14th floor of the TOTAL Tower, overlooking Berlin. 

20 commerce germany December 2015 TTIP: Essential Driver for Prosperity and Growth

Frankfurt/M, Sept. 24. During the 66th International Motor Show (IAA) “Visions, Implications and Challenges of TTIP”, with panelists Reinhard in Frankfurt, VDA (the German Association of the Automotive Industry), Bütikofer, Member of the European Parliament (European Green Party); ­ Atlantik-Brücke and AmCham Germany jointly hosted a symposium on the Dr. Sabine Konrad, Partner at McDermott Will & Emery LLP and Judge at benefits of TTIP for prosperity and economic growth at the Congress Center the International Centre for Settlement of Investment Disputes of Worldbank; Messe Frankfurt. Signe Ratso, Director of Trade Strategy and Analysis and Market Access at The high-level symposium discussed key opportunities and challenges DG Trade of the European Commission; and Dr. Stefan Sommer. of TTIP and free trade. VDA president Matthias Wissmann opened the AmCham Germany President Bernhard Mattes concluded the sympo- event and introduced keynote speaker Dr. Stefan Sommer, CEO of ZF sium by stating that the TTIP agreement is perhaps the last major opportu- Friedrichshafen, as well as John B. Emerson, US Ambassador to Germany. nity to shape world trade in the interest of the transatlantic partners, setting Friedrich Merz, Chairman of the Atlantik-Brücke, moderated a panel on high standards to which rising economic powers will have to adjust. 

Key International Tax Issues on the Agenda at Tax Committee Meeting

Berlin, Oct. 1. Current issues in international taxation were discussed at this meeting of the Tax Committee with Dr. Thomas Gambke, MdB (Alliance­ 90/The Greens) and member of the Finance Committee of the German­ Bundestag­ , and Manfred Naumann, Head of the Division IV B 5 at the Federal Ministry of Finance. Among the topics on the agenda were develop- ments concerning Base Erosion and Profit Shifting (BEPS) particularly with re- gard to country-by-country reporting. In addition, the discussion also touched on the topics of double taxation agreements, international taxation and regu- lations regarding transfer pricing. PricewaterhouseCoopers hosted this com-

© archerix/iStock/Thinkstock mittee meeting at their headquarters in Berlin. 

Corporate Venturing Takes Hold in Germany

Berlin, Sept. 29. Whether it concerns electric cars, cell phones or hotels – there responsibilities. A regulatory environment which supports entrepreneurship is hardly an industry around these days that can be safe of ‘disrupters’. And is crucial for the competitiveness of a country and for the willingness of in- most disruption is driven by ambitious startup companies that industrial ‘in- vestors to support young enterprises. Going forward, the Entrepreneurship cumbents’ did not have on their radar. Committee will focus on improving the environment for funding the growth AmCham Germany’s Entrepreneurship Committee, in collaboration with of startups as well as on how established companies can benefit from a vi- Roever Broenner Susat Mazars, held a first workshop on corporate venturing in brant entrepreneurial ecosystem.  Berlin that produced some interesting results: Corporate venturing is increas- ingly seen as a key ingredient of corporate innovation strategy. Gaining insights into new technologies, business models and markets is the primary objective of Stephan Kleinmann Ludwig von Reiche the investors. In addition to funding, enhancing their reputation and visibility Wirtschaftsprüfer (German Public Auditor) and Partner Managing Director by having a corporate investor is one of the key incentive for startups to take Roever Broenner Susat Mazars NVIDIA ARC GmbH T +49 30 200774-0 T +49 30 315997-77732 a strategic investor on board. Key criteria for success on the corporate side E [email protected] E [email protected] are top management involvement and support, plus clearly defined budget

December 2015 commerce germany 21 chamber news Board of Directors Discusses Digital Mobility

Frankfurt/M Sept. 24. The Board of Directors of AmCham Germany met for The panel discussion with Dr. Wieland Holfelder, Site Engineering its fall meeting during the International Motor Show (IAA) in Frankfurt/M Lead at Google Germany, and Arndt G. Kirchhoff, Managing Partner and to discuss the challenges of digital mobility for the automotive sector. New CEO at Kirchhoff Automotive Deutschland, focused on share economy, new consumer behavior, new technologies and new business models: three pos- consumer behavior and business models as well as the power of manufac- sible scenarios for 2025 were presented by Ralf Kalmbach and Holger turers (OEMs). Pictured here are (from left): Roeder; Holfelder; Kirchhoff; Roeder, partners at A.T. Kearney's. Kalmbach; and AmCham Germany President Bernhard Mattes. amcham germany in the press

AmCham Germany and US Mattes called on the companies in ed chicken). US Secretary of Com- Secretary of Commerce Germany to assume responsibility in merce Penny Pritzker conciliates. […] promote TTIP the current refugee crisis and to Pritzker firmly rejected accusations Representatives of German and help prepare as many refugees as that TTIP negotiations lack transpar- American companies once again possible for the job market. “There ency. “There is more insight into strongly promoted the free trade is a lot of talent among them,” the negotiations than some make agreement TTIP, which is particular- emphasized Mattes. […] ­believe,” she said at AmCham ly controversial in Germany. At the Former BDI president Jürgen ­Germany’s Transatlantic Business Ninth Annual Transatlantic Business ­Thumann announced that the BDI Conference in Frankfurt. “But you Conference, AmCham Germany (Federation of German Industries) cannot negotiate such an agreement President and CEO of Ford Germany would once again intensify its com- in public. It is far too complicated.” Bernhard Mattes said that one had munications campaign for the free She admitted, though, that commu- to take public concerns seriously trade agreement. […] nication about TTIP needs to be en- and discuss the pros and cons of (Translated from the original article by Christian hanced: “We haven’t explained the the agreement. However, he said he Siedenbiedel as it appeared in Frankfurter benefits of TTIP effectively.” How- Allgemeine Zeitung on Oct. 29, 2015) was strongly convinced that “TTIP ever, she didn’t answer the question is not an attack on our democracy if, from her point of view, the “We haven’t explained the or our consumer and environmental German Federal Government and benefits of TTIP effectively” standards”. US Secretary of Com- Federal Minister for Economic Af- The free trade agreement TTIP be- merce Penny Pritzker also dismissed fairs Sigmar Gabriel (SPD) should tween the EU and the US is causing concerns about lower standards: more clearly promote TTIP. demonstrations of citizens. They fear “TTIP is not about deregulation.” The US, Europe and Germany should American Chlorhühnchen (chlorinat- […] work together to conclude the

22 commerce germany December 2015 New Staffer Policy Committee Changes

Alexandra Schulz joins AmCham Germany as Frank Vogel (left), Man- Assistant, Membership & Business Services, in the aging Director at Citigroup Frankfurt office. She holds a master´s degree in Busi- Global Markets Deutschland ness Administration from the University of Trier. She AG, takes over as new Co- can be reached at [email protected]. Chair of the Financial Servic- es Committee together with Dr. Martin Deckert (right), Senior Advisory Partner at Skubch & Company Manage- “Voices for TTIP” with ment Consultants GmbH. Fresenius SE We mourn the loss of our individual member of 40 years In this AmCham Germany series “Voices for TTIP” podcast, Dr. Ulf M. Schneider, Chairman of the Manage- Manfred Lindemann, ment Board of Fresenius SE, outlines why TTIP is essential for competition and innovation on both sides of the who passed away this September. Atlantic. “For consumers in Germany He and his family are in our thoughts. and across Europe, TTIP means high- er quality and lower prices, for com- ▸ To view our newest video American Chamber of Commerce in Germany panies, it means easier access to oth- please scan the QR code or visit er market participants,” he explains. our youtube channel

agreement and to overcome mis- as a business location and have USA turn their attention from companies surveyed agree. One in trust, she said. […] barely increased their investments the West to the East four companies also agree that Pritzker emphasized that particular- in Germany. “We must not rest on US companies traditionally appreci- Germany plays a major role here. ly small and medium-sized compa- our good image,” said Bernhard ate Germany as a business loca- But this is expected to change nies would benefit from lower Mattes, AmCham Germany Presi- tion. But interest is waning, be- radically within the next ten years. costs, better market access and in- dent and CEO of Ford-Werke cause China is becoming China will compete against the US creased efficiency within a free GmbH in Cologne. […] increasingly attractive and Germa- in a tight contest while Germany trade zone. “It is about smarter The 50 member companies surveyed ny has rested on its laurels, says will fall behind. To effectively regulation. We will not tolerate a expect that China will take over as AmCham Germany. counteract this, Germany must se- regulatory race to the bottom that the global forerunner in innovation […] This is the result of a survey cure sufficient numbers of skilled makes products less safe or puts while Germany falls behind. […] conducted by AmCham Germany employees, particularly in the our values at risk,” she said. […] “The focus of attention is shifting to among 50 member companies. technical sector (64% of the com- (Translated from the original article by Anja Ettel Asia,” said Mattes. Despite the re- “The perception of Germany as a panies surveyed agree), German as it appeared in Die Welt on Oct. 29, 2015) cent downturn in share prices, the business location is good. How- society must become more open companies surveyed expect China ever, data shows that 2014 was a to IT (62%), create an entrepre- Americans concerned about to remain a global growth driver. year of restrained investments in neurial environment for start-ups Germany as a business location From the respondents’ point of Germany,” explained Bernhard (52%), and drive the expansion of According to a survey conducted view, for the future Germany will Mattes, AmCham Germany Presi- digitization (50%) and TTIP negoti- by AmCham Germany, the grade need sufficient numbers of skilled dent and CEO of Ford Germany, ations (46%). given to Germany as a business lo- employees (64%) and will have to during the presentation of the (Translated from the original article by cation has improved to 2.1 from expand digitization (50%). study in Frankfurt. At the moment, Wolfgang Hauser as it appeared in vdi Nachrichten on Sept. 11, 2015) 2.2 in 2014. However, US compa- (Translated from the original article by the US sees itself as the undisput- nies are concerned about Germany Jan Hauser as it appeared in Frankfurter ed innovation driver. 62% of the Allgemeine Zeitung on Sept. 1, 2015)

December 2015 commerce germany 23 special report: growth company forum Second Growth Company Forum Supports Start-up Ecosystem

Andrej Kiska, President of the Slovak Republic, spoke Pictured here are (from left): von Reiche; Christian Tegge, German Startups Association; Morse; Benjamin Rohé, about startup-friendly environments. Managing Director of GTEC.

ach year, around 1,000 start-ups are “Innovation needs freedom, trust and a risk- Presentations of German high-growth com- founded in Germany, but only few grow friendly environment,” stated Andrej Kiska, Presi- panies NewStore, SavingGlobal and Number26 to “make it” internationally or go public. dent of the Slovak Republic and former serial en- on topics and perspectives of ‘start-up ecosys- Access to growth finance is one of the key trepreneur, in his keynote speech at the event. tems’ alternated with start-up companies in- Eprerequisites for success. But besides financing, Indeed, it would be the job of politicians to en- troducing their own business ideas and hoping soft factors are also important. courage people to take on risks to pursue their to spark interest in investors. Christian Miele To support the German start-up ecosystem and entrepreneurial goals, he continued. from e.ventures introduced their venture capi- promote exchange between investors and start- The half-day event explored opportunities tal fund. ups in their growth phase, ­AmCham ­Germany's and limits of growth financing in Germany. Par- Advice to start-ups was also given by Ken Entrepreneurship Committee has again teamed ticipants shared the opinion that, compared to Morse, Chairman of Entrepreneurship Ventures up with the German Startups Association and the US, the start-up landscape in Germany is still Inc. and former managing director of the MIT the German Tech Entrepreneurship Center­ nascent and investors are rather cautious. Ger- Entrepreneurship Center. A fireside chat with (GTEC) to host the second Growth Company man companies and investors could learn a lot Ludwig von Reiche, Chair of AmCham Germany’s­ Forum in Berlin on October 15, supported by from the American mindset, which is more open Entrepreneurship Committee, and Thomas ­KPMG and ESMT European­ School of Manage- to disruptive innovation and perceives failure as Stafford, Partner at DST Global and several net- ment and Technology. an experience to build upon. working sessions rounded up the event. 

Pictured here are (front row, from left): von Reiche; Tim Dümichen of KPMG AG; Rohé; Florian Nöll, President, Dr. Tamaz Georgadze, CEO of SavingGlobal GmbH, German Startups Association; Andreas Povel, AmCham Germany General Manager. presented his company.

24 commerce germany December 2015 new members

From September to December 2015

EXECUTIVE MEMBERS Weil Reinigungsservice GmbH & Co. KG Klaus Pflum NRW.INVEST GmbH Günter Weil, CEO Ingo Schneemann Michael Kordus Frankfurt/M HP Deutschland GmbH Dr. Timo Willershausen Jochen Erlach, Managing Director Oracle Deutschland B.V. & Co. KG Böblingen DELEGATED MEMBERS Ebner Stolz Mönning Bachem Dipl.-Kffr. Claudia Mrotzek Wirtschaftsprüfer Steuerberater Alfred Kärcher GmbH & Co. KG NBC Universal International Rechtsanwälte Partnerschaft mbB Orrick, Herrington & Sutcliffe LLP Thorsten Binkert Gidon Freeman, Vice President Wolfram Bartuschka Rechtsanwälte Dipl.-Wirt. Ing. Florian Kaiser London Karina Frille Dr. Jörg Ritter Torsten Janssen ALTANA AG Probat-Werke von Gimborn GmbH Hans-Peter Möller OTIS GmbH & Co. OHG Stefan Genten Wim Abbing, CEO Elisabeth Böhm Dr. Christoph Schlünken Emmerich am Rhein Evonik Industries AG Frank Müller Hannelore Gantzer CORPORATE MEMBERS American Express Services Europe Angela Vonnahme Otto (GmbH & Co KG) Limited Neela Montgomery Joanna Townsend Apple GmbH Hapag-Lloyd AG Maija Salvén Haas, Thorsten Haeser Pfizer Deutschland GmbH Amway GmbH Senior Manager Government Affairs Peter Albiez Andrea Miller München Henkel AG & Co. KGaA Jerry Perkins Philip Morris GmbH B. Metzler seel. Sohn & Co. KGaA CERAN SA Jens-Martin Schwaerzler Dr. Harald Hecht Martin Kroiss Philippe Carl, Key Account Manager Stacey Kennedy Spa Heuking Kühn Lüer Wojtek Partner- Bain & Company Germany, Inc. schaftsgesellschaft von Rechts- PricewaterhouseCoopers AG Dr. Thomas Herbeck Dr. Kleeberg & Partner GmbH anwälten und Steuerberatern Wirtschaftsprüfungsgesellschaft Dr. Lars Lüdemann, Managing Director Daniel Froesch Dr. Klaus-Peter Gushurst BASF SE München Michael Neises Christian Schubert Dr. Stephan Witteler Procter & Gamble Germany GmbH & Dynamic Realty Group, Inc. Co Operations oHG BDO AG Wirtschaftsprüfungs- Marion Kaarina Ott, CEO Hewlett-Packard GmbH Claudia Eschinger gesellschaft Bay Harbor Islands Thomas Bässler Rainer Schmalz Frank Biermann Miami Beach, FL 33154 Volkhard Bregulla Charlotte Winzer Silvia Sartori Angelika Gifford Greenberg Traurig Germany, LLP The Bank of New York Mellon Biogen GmbH Dr. Christian Schede, Managing Partner HOCHTIEF Aktiengesellschaft Christoph Marniok Stefan Schneider Berlin José Ignacio Legorburo Nikolaus Graf von Matuschka The Walt Disney Company BNP Paribas S.A. Niederlassung Ingenico Payment Services GmbH (Germany) GmbH Deutschland Christoph Dühr, Managing Director HP Deutschland GmbH Christian Rahmig Laurent Poiron Ratingen Ansgar Baums ThyssenKrupp AG Bryan Cave LLP Instituto de Empresa IE Germany Office HSBC Trinkaus & Burkhardt AG Dr. Peter Feldhaus Dr. Michael Leue, LL. M. Dr. Alexandra Wuttig, Director IE Office Andreas Schmitz (DACH region) TOTAL Deutschland GmbH Clifford Chance Deutschland LLP München Janssen-Cilag GmbH Matthias Lisson Dr. Josef Brinkhaus Tatjana Dreyer Dr. George Hacket Karl Wörwag Lack- und Farbenfabrik U.I. Lapp GmbH Dr. Michael J. R. Kremer GmbH & Co. KG Knorr-Bremse AG Dipl.-Ing. Gerald Lawrenz Dr. Thomas Stohlmeier Dr. Achim Gast, CEO Dr. Sigurd Dahrendorf Georg Stawowy Stuttgart Commerzbank AG KPMG AG Wirtschaftsprüfungs- UL International Germany GmbH Berthold Bonanni Le Méridien Stuttgart gesellschaft Marcel Lavèn Dr. Annette Messemer (Iona Hotels Deutschland GmbH) Christian Aigner Dr. Thorsten Niklas Andreas Roth Bernd Schäfer-Suren, General Manager Dipl.-Kfm. Daniel Schaber, LL.M. Matthias Rosenthal Dirk Verlage Stuttgart Thorsten Stabenau Landesbank Baden-Württemberg CP GABA GmbH operational services GmbH & Co. KG Peter Hähner XL Catlin XL Insurance Company SE Dany Schmidt Dipl.-Kfm. Kerem Yesil, Catlin Europe SE Head of Sales & Marketing LENOVO Deutschland GmbH Dieter Goebbels DEKRA SE Frankfurt/M Klaus Hollein Michael Harth Clemens Klinke Seitz Rechtsanwälte Steuerberater Marvell Semiconductors Switzerland INDIVIDUAL MEMBERS Deutsche Börse AG Partnerschaftsgesellschaft mbB Sàrl Niels Tomm Dr. iur. Jörg Heyer, Partner Patrick Clement Benjamin Flesch Köln Flemming Larsson Dow Deutschland Inc. Mayer Brown LLP Marie-Luise Neubert Ralf Brinkmann Starman Hotels (Munich) GmbH Dr. Klaus Riehmer Omar García Urdiales Dagmar Zechmann, General Manager Robert Engle Duff & Phelps Germany GmbH München MSD SHARP & DOHME GMBH Dr. jur. Christoph Rückel James Bauer Christoph Habereder Daniel Kittlauss Hartmut Paulus

December 2015 commerce germany 25 access your global network imprint commerce germany  ACC Verlag & Services GmbH EU – Close Economic Ties Dipl.-Kfm. Andreas L.J. Povel, General Manager Börsenplatz 7-11, 60313 Frankfurt/M

 Editorial and business offices ▾▾Why is the EU an interesting investment loca- beit growth is uneven across member states. Some Anna Katharina Schneider, Ines Ceylan tion for American investors? economies, such as Poland or Ireland, will achieve T +49 69 929104-41, +49 69 929104-43 F +49 69 929104-11 growth rates above 3% in 2015, but several others E [email protected], [email protected] ▵▵ For the past fifteen years, the EU and US have are growing at a more sluggish rate. The same can W www.amcham.de been each other’s most important trading partners be seen across industrial sectors. The pharmaceu-  Editorial team with Europe attracting over 55% of total US global tical and automobile sectors are growing steadily Karen Herzog, Christina Dier (verantwortlich) investment. We share common values, have high while chemical, metallic or mineral sectors are also Representing FRANKFURT BUSINESS MEDIA GmbH – standards of health and safety, and a well-educat- doing so but at a much slower pace. Der F.A.Z.-Fachverlag, Frankfurt/M ed hard-working workforce. I think when you take  Graphic designer all these factors into account, Europe is a natural ▾▾How does AmCham EU support its members? Katharina Doering Representing FRANKFURT BUSINESS MEDIA GmbH – investment location for US investors. Der F.A.Z.-Fachverlag, Frankfurt/M ▵▵We are a multi-sectoral, membership-led, ▾▾Please describe the economic partnership membership-driven organization and we support  Advertising administration Sabine Karbowy between the US and EU. and assist our members in the following areas: Wilrijkplatz 3, 65527 Niedernhausen advocacy and influence on issues impacting their  Communications Committee ▵▵ If we look at the transatlantic economy, we see businesses; providing information and intelligence; Carl Graf von Hohenthal, Co-Chair that it remains the world’s largest and strongest, ac- offering networking opportunities and access to Brunswick Group GmbH counting for 35% of world GDP and indirectly em- stakeholders; and corporate branding.  William Hood, Co-Chair Commpanions Werbeagentur GmbH ploying more than 15 million workers on both sides  Photo credits of the Atlantic. Aggregate US investment in the EU ▸ About AmCham EU totaled a staggering €2 trillion in 2014, directly sup- Cover: Ina Debald p.27: 8213erika/iStock/Thinkstock; Ksenia Kozlovskaya/ porting 4.3 million jobs. These are important facts AmCham EU speaks for American companies committed to Europe on trade, investment iStock/Thinkstock; lilkar/iStock/Thinkstock; kzenon/iStock/ Thinkstock; Arina Borevich/iStock/Thinkstock; mariakray- to bear in mind, especially now that we are work- and competitiveness issues, representing 164 ing on enhancing our economic integration through nova/Photodisc/Thinkstock; zkruger/iStock/Thinkstock; member companies. Kasiam/iStock/Thinkstock; Traveller_Martin/iStock/Think- TTIP. We believe that TTIP will create export oppor- stock; Photodisc/Digital Vision/Thinkstock tunities – particularly for small and medium sized businesses – on both sides of the Atlantic. commerce germany is the official periodical of the American Chamber of Commerce in Germany e.V. It is published for the Chamber by ACC Verlag & Services GmbH. Opinions expressed ▾▾In what state is the European economy in in articles are not necessarily those of the Chamber or of ACC regards to the global economic crisis? Verlag & Services GmbH or of FRANKFURT BUSINESS MEDIA Susan Danger GmbH – Der F.A.Z.-Fachverlag. Contributor opinions are not Managing Director necessarily shared by the ­editor. All members of the American ▵▵ With real GDP in the EU estimated to grow at AmCham EU Chamber of Commerce in Germany e.V. receive one free 1.8% this year, the European economy seems to T +32 02 513-6892 copy of the publication. Copyright by American Chamber of E [email protected] ­Commerce in ­Germany e.V. All rights reserved. The ­contents be recovering from the global economic crisis, al- W www.amchameu.eu of this ­publication may not be reproduced in whole or in part without the ­consent of the copyright owner.

Alle Rechte vorbehalten. Nachdruck, auch auszugs- NEXT ISSUE OF COMMERCE GERMANY: March 17, 2016 weise, nur mit ausdrücklicher Genehmigung des ­Verlags.  Printing ADVERTISING CLOSING DATE: February 18, 2016 Boschen Offsetdruck GmbH, Frankfurt/M Our topics will include: ISSN 0010-2857

Adding Value Through Diversity – CR and Diversity Management  Index of companies Accenture 3 Special Report: Thanksgiving 2015 and New Year's Receptions 2016 DEHNEN. Rechtsanwälte 14 goetzpartners Management Consultants GmbH 15 Investment Region: Hesse ING-DiBa AG 7 interxion Deutschland GmbH 7 Contact: Motorola Solutions Germany GmbH 9 QVC Handel LLC & Co. KG 14 Sabine Karbowy Contact: SAS Institute GmbH 8 T +49 6127 9993150 Barbara Böhnke M +49 171 7579768 M +49 178 7988882  Advertiser’s index Commerzbank AG  28 F +49 6127 9993151 F +49 33398 679724 DEHNEN. Rechtsanwälte 3 E [email protected] E [email protected] European American Business Organization, Inc. 8 Germany Trade and Invest 17 NRW.INVEST GmbH 2 26 commerce germany December 2015 Oortwijn Interim Management & Consulting GmbH 9 chamber calendar

AmCham Germany January 1 January 14 2016 event highlights New Year’s Day New Year's Reception Please see www.amcham.de Federal holiday in the US Dr. Rolf Bösinger for the latest updates Staatsrat der Behörde für Wirtschaft, Verkehr und Innovation der Freien und Hansestadt Hamburg Light blue = events wholly or partially in English Hamburg

January 15 January 19 January 22 January 26

New Year's Reception New Year's Reception New Year's Reception New Year's Reception

Marcus Almeling Hermann Gröhe Olaf Lies CFO Bundesminister für Niedersächsischer Minister McDonald's Gesundheit für Wirtschaft, Arbeit Deutschland Inc. und Verkehr

Nürnberg Düsseldorf Dresden Hannover

January 26 January 27 January 29 February 3

New Year's Reception New Year's Reception New Year's Reception Business Luncheon

Markus Söder General Philip M. Breedlove Roland Koch Michael Schmidt Bayerischer Staatsminister Supreme Allied Commander ehem. Ministerpräsident Vorsitzender des Vorstands der Finanzen, für Landes- Europe and Commander of Hessen BP Europa SE entwicklung und Heimat US European Command

Munich Stuttgart Frankfurt/M Düsseldorf

February 4 February 15 March 17 March 20

AmCham Germany Forum Washington’s Birthday AmCham Germany Forum First Day of Spring (Presidents Day) Sabine Leutheusser- Dr. Wolfgang Büchele Schnarrenberger Federal holiday in the US Vorsitzender des Vorstands Bundesjustizministerin a.D. Linde AG Vorstandsmitglied der Friedrich-Naumann-Stiftung

Munich Munich

April 29 April 29 May 30 July 4

113th Annual Membership 113th Annual Membership Memorial Day Independence Day Meeting Meeting Federal holiday in the US Federal holiday in the US

Leipzig Leipzig

December 2015 commerce germany 27