Stefan Wintels, the Chairman of the Executive Board of the Kreditanstalt für Wiederaufbau (KfW), has called for a comprehensive new investment and innovation agenda aimed at boosting national competitiveness.
In a recent guest article for the “Handelsblatt”, Wintels argued that competitiveness is not achieved automatically, stating that reliable frameworks must be paired with a proactive investment strategy. The Chairman of the KfW banking group champions a “German Deal for Innovation,” believing that the current moment requires accelerating capital mobilization, strengthening innovation ecosystems, and acting with the necessary speed and scale.
He emphasized the need to expand the innovation infrastructure to enable ideas to transition more rapidly into successful companies. A key part of this strategy is the WIN Initiative, which was launched in 2024. This program aims to systematically mobilize additional venture and innovation capital, improve fund structures, and reinforce the connections between universities, investors, and businesses.
Other components of the agenda involve the continued development of the capital market union and specific regulatory adjustments. These changes would allow institutional investors to allocate a larger portion of their funds toward venture and growth funds. Finally, Wintels noted that Europe needs larger growth funds and overarching umbrella fund structures to successfully close the annual financing gap relative to the United States.
