Unicorns in Germany: Where’s the Growth?

31 unicorns in over ten years – for a country like Germany, that’s not enough. Our analysis shows what’s holding the startup ecosystem back – and why traditional industries are struggling to keep up. The good news? There's plenty of room for progress – if we make use of it.

In 2024, only one new unicorn emerged: Munich-based fitness startup EGYM. In total, Germany currently counts 31 unicorns – ranking seventh globally. By comparison: The US leads with 653, China follows with 312, and India with 70.

The gap between traditional industries and digital business models is particularly striking. While fintech and software startups like N26 or Raisin thrive through fast scaling and market connectivity, legacy sectors such as Chemistry or Automotive often struggle – hampered by high investment barriers and lengthy development cycles.

The German Innovation Awards reflect this trend – and aim to provide established industries with greater visibility and fresh perspectives. One thing is clear: Germany has the know-how. What’s often missing is the courage to scale – and platforms that put innovation in the spotlight. That’s exactly where we come in.

Where Will Your Innovation Take Us?

Your idea sets new standards? Apply now for the German Innovation Awards 2026.