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Masterarbeit V1.4 Master Thesis Moritz Philip Recke Hamburg’s Entrepreneurial Ecosystem And The Next Media Initiative Public Policy Towards Entrepreneurship Fakultät Technik und Informatik Faculty of Engineering and Computer Science Department Informatik Department of Computer Science Moritz Philip Recke Hamburg’s Entrepreneurial Ecosystem And The Next Media Initiative Public Policy Towards Entrepreneurship Masterarbeit eingereicht im Rahmen der Masterprüfung im Studiengang Master of Arts - Next Media (M.A.) am Department Informatik der Fakultät Technik und Informatik der Hochschule für Angewandte Wissenschaften Hamburg Betreuender Prüfer: Professor Dr. Kai von Luck Zweitgutachter: Dr. Susanne Draheim Abgegeben am 05.12.2016 Fakultät Technik und Informatik Faculty of Engineering and Computer Science Department Informatik Department of Computer Science Author Moritz Philip Recke Topic Hamburg’s Entrepreneurial Ecosystem And The Next Media Initiative - Public Policy Towards Entrepreneurship Keywords accelerator, angel, angel investor, business angel, company builder, economic policy, economy, ecosystem, entrepreneur, entrepreneurship, entrepreneurial ecosystem, employment, entrepreneurship, financing, founder, Germany, growth, high-growth, high-growth venture, Hamburg, incubator, innovation, innovation policy, investment, investor, job creation, location development, media, metrics, next media, policy, public policy, regional development, startup, startup economy, startup ecosystem, venture capital, vc Abstract Entrepreneurship, more specifically the formation of tech startups, is often attributed with economic growth and job creation due to their high-growth potential by many policy makers around the world. This link is widely debated in scientific literature, which does not necessarily seem to inform public policy. The City of Hamburg established a Next Media Initiative, focusing on media and IT industry related innovation to nurture the future development of this industry cluster with the help of high-growth ventures. This master thesis explores the composition of Hamburg's entrepreneurial ecosystem, local government efforts to facilitate its development and the (dis)connect between municipal innovation policy and academic literature. Fakultät Technik und Informatik Faculty of Engineering and Computer Science Department Informatik Department of Computer Science Autor Moritz Philip Recke Thema Hamburg’s Startup-Ökosystem und die Next Media Initiative - Politik für Unternehmertum Stichworte Accelerator, Angel, Angel Investor, Arbeitsplätze, Beschäftigung, Business Angel, Deutschland, Entrepreneure, Entrepreneurship, Finanzierung, Gründer, Hamburg, Inkubator, Innovation, Innovationspolitik, Investition, Investor, Kapital, Medien, Metrik, Next Media, Ökosystem, Politik, Regionale Entwicklung, Risiko, Risikokapital, Skalierung, Standortpolitik, Startup, Startup-Ökosysteme, Unternehmer, Unternehmertum, Wachstum, Wirtschaft, Wirtschaftspolitik Kurzzusammenfassung Unternehmertum (Entrepreneurship), insbesondere die Gründung von Tech Startups, wird aufgrund des enormen Wachstumspotentials solcher Unternehmen von vielen Politikern weltweit oft mit Wirtschaftswachstum und der Schaffung von Arbeitsplätzen verbunden. Diese Verknüpfung wird in der wissenschaftlichen Literatur umfassend diskutiert, wissenschaftliche Erkenntnisse fließen aber nicht zwingend in die Entwicklung politischer Strategien zur Wirtschaftsförderung ein. Die Freie und Hansestadt Hamburg hat eine Next Media Initiative gegründet, welche mit einem starken Fokus auf die Medien- und IT-Branche die Entwicklung dieses Wirtschafts-Clusters fördert, insbesondere mit Hilfe von Startups mit hohem Wachstumspotential (high-growth ventures). Diese Masterarbeit untersucht die Zusammensetzung des Startup-Ökosystems (entrepreneurial ecosystem) in Hamburg, die Bemühungen der lokalen Verwaltung dessen Entwicklung zu fördern und Deckung der regionalen Innovationspolitik mit wissenschaftlicher Literatur. Fakultät Technik und Informatik Faculty of Engineering and Computer Science Department Informatik Department of Computer Science Table of Contents 1 Abstract ......................................................................................7 2 Introduction & Definitions ........................................................9 2.1 Startup ...................................................................................................9 Startup stages ...................................................................................................10 Startup funding ..................................................................................................10 Startup lifecycle .................................................................................................13 2.2 Entrepreneurial Ecosystem .................................................................14 Entrepreneurial Ecosystem attributes ................................................................14 Entrepreneurial Ecosystem illustrations ............................................................18 Entrepreneurial Ecosystem metrics ...................................................................21 2.3 Public Policy Towards Entrepreneurship .............................................24 Economic growth and job creation ....................................................................24 Entrepreneurship Policy effectiveness .............................................................25 Entrepreneurship Policy categories ...................................................................28 3 Introduction to Hamburg's Entrepreneurial Ecosystem .....30 3.1 Media Industry in Hamburg .................................................................31 Software/games industry ...................................................................................33 Advertising industry ...........................................................................................35 Press industry ....................................................................................................36 3.2 Venture Capital Investment Activity in Hamburg .................................37 3.3 Startup Activities in Hamburg ..............................................................40 3.4 Stakeholders within Hamburg’s Entrepreneurial Ecosystem ...............44 Co-working spaces ............................................................................................46 Accelerators & Incubators .................................................................................51 Venture Capital Investors .................................................................................57 Public Loan & Subsidy Programs ......................................................................70 Universities and Research Institutes .................................................................73 Public and Private Service Providers ................................................................79 Large Corporations ...........................................................................................80 Initiatives and Advocacy Groups .......................................................................82 Events & Festivals .............................................................................................83 4 Public Policy towards Entrepreneurship in Hamburg .........87 4.1 nextMedia.Hamburg Initiative ..............................................................92 Activity Field: Service & Support .......................................................................93 Activity Field: Publishing ....................................................................................97 Activity Field: Networking ..................................................................................97 4.2 Regional programs ............................................................................100 4.3 Federal programs .............................................................................102 5 Discussion .............................................................................106 5.1 Public Policy orientation ....................................................................106 5.2 Frameworks to categorise public efforts ............................................109 5.3 Regional Innovation Systems and the Triple Helix Approach ............113 6 Metrics to track impact .........................................................116 7 Conclusion .............................................................................119 8 References .............................................................................122 9 Figures ...................................................................................130 10 Tables ...................................................................................135 11 Appendices ..........................................................................141 12 Glossary ...............................................................................146 13 Abbreviations ......................................................................149 1 Abstract Introduction: Entrepreneurship, more specifically the formation of tech startups, is often attributed with economic growth and job creation due to their high-growth potential by many policy makers in the world. This link is widely debated in scientific literature, which does not necessarily seem to inform public policy. The City of Hamburg established a Next Media Initiative - nextMedia.Hamburg - in 2014, focusing on
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