Basque government launches IE Digitales

According to press reports, the Basque government has launched a fund called IE Digitales, which will invest in technology and start-up companies in the Basque region. It is understood that the fund has raised Eur2.14m so far and that the government expects to commit a total of Eur6m to the project over the next three years. According to published sources, the fund plans to invest around Eur1.2m in four companies in its first year. Gestión de Capital Riesgo del País Vasco (SGECR), a government initiative launched in 1985 in order to encourage business development in the region, will manage the fund.

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• Southern Europe