Research: cuts in medium-sized business funding - SPD calls on Minister for Economic Affairs Reiche to rethink her position
The Ministry of Economics has stopped the SME program ZIM. The savings measure will hurt German competitiveness, say the Social Democrats.
The German Social Democratic Party (SPD) is urging Federal Minister of Economic Affairs Katherina Reiche to reverse planned cuts to the Central Innovation Program for Medium-Sized Enterprises (ZIM). The program, considered a flagship of research funding for medium-sized businesses, was unexpectedly halted by the Federal Ministry of Economic Affairs on July 7, with 558 million euros initially allocated for the current year.
The ministry cited increased demand and limited budgetary resources as reasons for the application freeze, which is not a program cancellation but rather a temporary measure to meet a 1% budget reduction required of all ministries. The SPD argues that innovative products are crucial for Germany's competitiveness and that every qualifying application should be supported.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
