German millionaire shakes things up: With this plan, Germany will become great again | Life & Knowledge

His business is innovation. The German investor and entrepreneur Cyriac Roeding is a visionary for future ideas. The World Economic Forum named Roeding a technology pioneer in 2013 and a global innovator in 2021.

His home today is Silicon Valley. He is a direct investor and advisor to several start-ups (including OpenAI). As CEO of earli, a start-up that has developed a technology that causes cancer cells to expose themselveshe is driving forward cancer research.

► Why did the Konstanz native turn his back on Germany? “I co-founded my first start-up here. We had to fight against many doubters and hurdles,” he says. German bureaucracy makes it difficult for founders to gain a foothold. In the USA, there is more tailwind.

The investor considers the “German appeasement mentality” to be particularly dangerous: “New ideas or products that show initial success – for example Tesla – are dismissed as immature or a small niche. When they suddenly become huge, it is too late for Germany to lead the future.”

► The problem is that people in this country often believe that they still have a long time because the innovations from abroad are not yet fully developed. “In doing so, we artificially give ourselves time that we do not actually have. Because the other countries make improvements much faster than we expect, and suddenly it is too late.”

“Germany is world champion in regulation, but unfortunately not in innovation. That is an unfortunate combination,” says Roeding. There are many bright minds, exciting scientific approaches and enough money in this country.

Roeding explains the 5-point plan he believes could make Germany a top innovation location:

1. Advance research and strengthen science

Innovation requires talent. Research and Science should be pushed forward for this reason.

► To achieve this, the country needs world-class universities that are recognized as such abroad. The Technical University of Munich, the Karlsruhe Institute of Technology, the RWTH Aachen and the Technical University of Dresden must be mentioned in the same breath as Harvard, Stanford, MIT and Oxford.

Universities must become known abroad for their research strength and innovative power in order to attract young talent from all over the world.

2. Promoting start-ups

Stop the downplaying mentality!

► Germany must Founders to locate their companies here. If Germany became a stronghold for start-ups, the country would be able to keep up internationally. Tax incentives and Start-up financing essential for great ideas.

3. Show willingness to take risks

Germany must spend money!

► It is a rich country in which forces and money should be pooled to invest in the future. Especially through innovations in the areas of artificial intelligencebiotechnology, nuclear fusion, quantum computing, greentech, roboticsspace travel and health technology, Germany could once again become the forefront of technological progress.

4. Expand digitalization

No more fax machines in government offices, doctor’s offices and Universities!

► Innovations require speed and simple processes. digitalization Significant progress must be made in business transactions; the introduction of digital signatures and the abolition of outdated procedures are necessary.

5. Promote entrepreneurs at school

A new generation of young talents and founders is growing up.

► The Education System must be changed: In addition to mathematics and German, school subjects such as idea development, entrepreneurship and start-up development are needed. English is the language for business and scientific exchange worldwide, so the language should be School only be taught by native speakers.