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In Hamburg, it's crucial to exercise patience.

Investors in Hamburg require ample perseverance from entrepreneurs during the grant application process.

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Hamburg financing programs for startups typically require several months for application approval.
Hamburg financing programs for startups typically require several months for application approval.

Persistence is Key for Hamburg-Based Founders when Pursuing Funding Applications - In Hamburg, it's crucial to exercise patience.

While seeking fundings from the Hamburgische Investitions- und Förderbank (IFB Hamburg), be prepared to play the waiting game, especially with the InnoRampUp funding program. Julian Herrmann, the CDU's start-up and innovation spokesperson, underscores this concern, revealing that technologically innovative start-ups typically wait an average of 174 days, or roughly 6 months, for approval – compared to the federal Exist funding program's typical two-month feedback period.

Yet, it's important to note that other IFB Hamburg funding programs also follow a long approval process, ranging from 129 to 166 days between January 1, 2023, and May 31, 2025, as specified in the red-green Senate's response to a minor inquiry.

So, why the delay? The arduous process includes a short presentation at IFB's Innovationsstarter GmbH, a meeting with the selection committee, and the necessity for founders to advance their start-up before securing funding. The time taken depends on factors like the founders' accessibility, response speed, and submission quality.

Rejections, fortunately, are handled much quicker, with an average processing time of 28 to 56 days for the aforementioned period.

Now, why is the waiting game so grueling for Hamburg-based founders, compared to federal programs? Count on twice the waiting time for RampUp, suggests Herrmann.

Wondering why the process takes so long? Let's navigate some contributing factors:

  1. The application's intricacy: More detailed applications – given the requirement for comprehensive financial and technical data – may prolong the processing period.
  2. High application volume: Greater application numbers clog the pipeline, causing delays.
  3. Rigorous evaluation criteria: Stringent evaluation criteria or multiple review rounds can extend the process.
  4. Fund availability: Funding availability can impact speed, with greater scrutiny when resources are scarce.
  5. Specialized programs: Participation in programs like quantum computing initiatives can add layers of complexity and scrutiny.
  6. Compliance and documentation: Ensuring thorough and compliant documentation can slow down the process.

To find the exact average processing time for IFB Hamburg applications, it'd be best to reach out directly or consult their official documents.

  1. The community policy stating the intricacy of applications at Hamburg's Innovation Bank emphasizes the need for comprehensive financial and technical data, which might extend the processing period.
  2. In the realm of business and technology, the high volume of applications received by the bank contributes to the lengthy approval process, causing delays for vocational training programs and start-ups seeking funding.

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