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Start-ups from North Rhine-Westphalia clearly felt the corona crisis last year.
Young companies raised less money from investors, as a study by the consulting firm EY published on Wednesday shows.
The financing volume fell from 268 million euros in 2019 to 196 million euros last year.
The number of financing rounds fell from 87 to 62.
This means that NRW clearly lags behind the German start-up strongholds of Berlin and Bavaria.
In Berlin, investors put almost 3.1 billion euros in start-ups, in Bavaria it was 1.5 billion euros.
The feared “start-up dying” did not materialize in 2020
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According to the study, the most populous federal state of North Rhine-Westphalia has a market share of four percent in start-up financing in Germany.
Start-ups are dependent on money from investors because they are usually not yet making a profit.
Funds and large companies invest capital in promising companies in the hope that their business ideas will prevail and bring them ample profits.
Start-ups are seen as innovation drivers for the economy.
Nationwide, start-ups received 5.3 billion euros from investors last year, 15 percent less than in the record year 2019.
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Big deals over 100 million euros were rare.
However, the 5.3 billion was the second highest value in recent years, and more start-ups came to investor money: The number of financing rounds rose by six percent to 743 - a record high.
According to the study, the big "start-up dying" feared by many did not materialize in the past year.