German Chancellor Angela Merkel is reportedly set to host a confidential internet summit on Monday with native startup heavyweights, according to business newspaper Handelsblatt.
The meeting, called on by founder of Xing Lars Hinrichs, is aimed at exploring the possibility of Germany wielding greater international power and influence across the internet scene.
The plans come as Merkel looks to strengthen the framework of Germany’s digital economy for aspiring home-grown versions of industry giants like Google, Facebook and Apple.
The nation currently boasts software giant SAP as its digital bigwig, but federal government policies need shaping if Germany’s to catch-up with the dominating American and Asian internet and IT industry.
Current indicators reveal that the internet is becoming increasingly important for Germany. A recent study by Boston Consulting Group show, the internet created €75 billion for the German economy last year, with predictions of the web boosting the country’s gross domestic product (GDP) from three to four percent by 2016.
The study also said, the internet will double its economic contribution by 2016 – to a whopping $4.2 trillion across the G20 group of the world’s wealthiest countries.
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