EUR 45m for tech start-ups

The Dutch ministry for finance (Het ministerie van Ekonomische Zaken) has allocated EUR 45m for tech start-up firms in the Netherlands over the next two years. The move has been approved in order to stimulate the development of innovative tech companies in the Netherlands and to increase the number of new companies in this area, where, according to the ministry, the Netherlands currently performs below the European average.

Investments of up to EUR 5m will be made, primarily to universities and other public institutions that can provide facilities and support for start-up firms. These institutions will be able to rely on a subsidy amounting to a maximum of 50% of the total cost of the project.

According to the ministry, there were 1,100 tech start-up firms in 1999. With the new investment programme, it is hoped that there will be 1,650 next year.

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