Munich
Metro area · Germany · Pop. 2.5M · #48 city by EV
Enterprise value · 2015–2025
Munich grew 9.8× since 2015
Combined enterprise value of every tracked startup headquartered in Munich that's still operating today — public and private companies combined, totalled by founding-year cohort.
Adjacent cities by EV
Academia
Munich's academic flywheel
Companies founded by university alumni or spun out of research, plus the institutions producing the most founders tied to Munich.
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Notable alumni-founded: CelonisHelsingLiliumMarvel Fusion
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Notable alumni-founded: ClimeworksGetYourGuideScandit
Vs. similarly-sized ecosystems
How Munich stacks up
Peers chosen from the same country (Germany), sized closest to Munich by combined EV. The scatter plots growth × current size — outliers in the upper-right are ecosystems compounding fastest.
Top overview
Germany — top cities
Top cities in Germany ranked by combined EV. Munich's row is highlighted.
| # | Ecosystem | Combined EV | 5-yr EV growth | Unicorns | VC invested | Tracked startups |
|---|---|---|---|---|---|---|
| 1 | Berlin/Brandenburg | $186B | 3.6× | 33 | $2.8B | 3,039 |
| 2 | Munich | $108B | 7.1× | 22 | $3.2B | 1,298 |
| 3 | Frankfurt | $19.9B | 3.4× | 5 | $105.2M | 447 |
| 4 | Hamburg | $16.8B | 5.2× | 5 | $168.5M | 692 |
| 5 | Stuttgart | $16.3B | 3.9× | 4 | $672.5M | 366 |
| 6 | Cologne - Bonn | $14.2B | 4.5× | 3 | $430.4M | 403 |
| 7 | Düsseldorf | $6.6B | 1.5× | 4 | $16.2M | 194 |
| 8 | Hanover | $5.8B | 5.2× | 3 | $39.2M | 108 |
| 9 | Mannheim | $5.2B | 3.5× | 1 | $21.4M | 120 |
| 10 | Leipzig-Halle | $4.2B | 3.0× | 0 | $65.5M | 127 |
| 11 | Dresden | $3.8B | 5.2× | 0 | $19.8M | 112 |
| 12 | Aachen | $2.2B | 7.1× | 0 | $70M | 120 |
Sector concentration
Where Munich punches above its weight
Sectors in which Munich's share of the global unicorn pool is bigger than its overall share. A 5× over-index means Munich is 5× more represented in that sector than in the global average. Source: top-hub aggregation across the 18 simplified sectors.
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What we don't show on this page (yet)
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