Through its Ventures unit, GovTech Group is investing in GovMind, a Berlin-based start-up that helps public administrations to procure innovations.
Since its foundation in 2020, GovMind has built up the most qualitatively and quantitatively comprehensive database in Europe focused on start-ups and young companies offering innovations for the public sector (GovernmentTech). Currently, GovMind lists over 1,800 providers of such innovative solutions and new ones are added daily.
Making this diversity of solutions tangible in a systematic and data-driven way is what GovMind considers its vision. To this end, the start-up develops scalable knowledge products such as the GovMind Insights Service, a searchable directory of all solutions for GovernmentTech that can be filtered and visualized in a variety of ways.
Among its users are the European Commission, the German Federal Ministry of the Interior and the State Ministry of Baden-Württemberg. GovMind will use the equity capital to expand its existing product portfolio and develop new products.
Carsten Klipstein, Managing Director of cosinex and CEO of GovTech Group on the investment:
"The public sector is beginning to recognize the potential of innovation procurement. At the same time, the B2G market is becoming more attractive for founders and start-ups. GovMind performs an interface function of growing importance here and, thanks to its data-driven approach, is predestined to support the public sector as a guide and beacon."
GovMind founder and CEO Manuel Kilian:
"We deliberately looked for a value-creating investor - and found the perfect partner in the GovTech Group. In particular, cosinex's product portfolio, its deep understanding of public procurement and the diverse contacts in public administration that GovTech Group stands for convinced us to opt for an investment with a long-term perspective. Now we are looking forward to further developing our service portfolio to even better support public administration in procuring innovations in an uncomplicated and successful way."
About GovTech Group / GovTech Ventures
GovTech Ventures is a division of the GovTech Group. With it, the Group supports founders and start-ups not only with capital, but also as an accelerator by providing project- and administration-specific know-how in central fields of e-government. At the same time, the reputation of the Group's companies, which is essential for access to public contracts and has grown from projects and contract relationships of various kinds with numerous public administrations in Germany, is brought into the partnership.
For more than 20 years, the companies of the group have been supporting public administrations in Germany with their software solutions in the development of their digital services for citizens and companies.
GovMind bridges the gap between innovations and the public sector. To this end, the company systematically collects and analyzes information on the use of innovative solutions and thus identifies which suitable solutions are available. GovMind makes its findings available to both public actors and external innovators with the help of insights products.
GovMind's services are used by the German Federal Ministry of the Interior and Home Affairs, the Baden-Württemberg State Ministry and the European Commission, among others. Last year, GovMind's data informed a resolution of the IT Planning Council on the use of GovernmentTech.