All too often in Germany, the word „exit“ is still associated with an entrepreneurial „end“. But the opposite is true: For start-ups, an exit is a step into the next development phase. Especially by way of an Initial Public Offering (IPO), start-ups can not only mobilize important growth capital, but also put their entrepreneurial independence on a new footing. However, IPOs account for only eight percent of all exits in Germany – but achieve 25 percent of the total exit volume.