Entrepreneurship Summit 2022 – Keynote speech by Prof. Dr. Günter Faltin

Summary of the keynote speech

In his keynote speech ‘The Berlin Way of Entrepreneurship’, Prof. Günter Faltin takes a critical look at the current understanding of economics, innovation and competition. His starting point is the observation that politicians are quickly voted out of office when they tackle uncomfortable issues such as consumer restraint, while entrepreneurs can take on a different role: they can implement solutions without being politically sanctioned – the market decides.

Faltin questions the often-used argument of ‘system competition,’ especially in connection with digitalisation, artificial intelligence and the metaverse. Technology is by no means bad per se, but it is particularly suitable when goals and rules are clearly defined. Technology cannot answer the really crucial questions – whether a goal makes sense, whether rules are set correctly and whether innovation contributes to a good life. These questions must be negotiated socially and entrepreneurially.

Faltin takes a particularly critical view of areas of innovation that consume extreme amounts of resources, such as energy-intensive digital applications. He questions whether such developments make sense in view of ecological limits and argues that innovations should be evaluated according to whether they solve real social problems.

A central theme of the keynote speech is the illusion of ‘ruthless competition’. Faltin argues that in many markets, fair competition does not prevail, but rather market power, lobbying, strong brands and tax advantages for large corporations systematically disadvantage small and medium-sized enterprises. The problem lies not in the economic system itself, but in its use by a very small group of dominant players.

Faltin contrasts this with a different understanding of entrepreneurship, one that is oriented towards meaning, responsibility and real needs. Using Berlin as an example, he shows how alternative lifestyles, cultural diversity and social innovations can open up new entrepreneurial opportunities – especially against the backdrop of necessary consumption reduction.

Finally, Faltin emphasises the importance of co-creation and crowdsourcing in the start-up phase. Good business ideas rarely arise in isolation, but become better, more marketable and more viable through diverse perspectives. Successful entrepreneurship therefore requires less capital than is often assumed, but above all clarity, creativity, feedback and a personal fit between the founder and the idea.

Key insights for founders

1. Entrepreneurs can act where politics fails:
Markets allow solutions to be implemented without relying on political majorities.

2. Not every technological innovation is useful:
The decisive factor is not whether something is feasible, but whether it is socially necessary and ecologically sustainable.

3. ‘Relentless competition’ is often a myth:
Many markets are distorted by market power, lobbying and strong brands. Genuine innovation usually comes from a few.

4. Good ideas arise through co-creation:
Concepts improve when they are shared, questioned and developed further with others at an early stage.

5. Successful entrepreneurship must suit the person:
Starting a business is a marathon. Only those who stand behind their ideas, values and lifestyle will persevere in the long term.

About the speaker

Prof. Günter Faltin is a German economist, university lecturer, founder of the Teekampagne and one of the influential thought leaders of modern entrepreneurship in German-speaking countries. He was a professor of economics at the Free University of Berlin, where he founded the Entrepreneurship department. Faltin is known for his ‘head beats capital’ approach, which focuses on intelligent business concepts rather than high capital investment. He has initiated numerous start-up projects, developed innovative teaching formats and is committed to sustainable, purpose-driven business models. His work combines economic thinking with social responsibility and cultural perspective.