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France and Germany commit $1.1 Billion each to start-ups

Finance ministers from France and Germany said each country would contribute 1 billion euros ($1.1 billion)

Towards a comprehensive plan, to foster European late-stage startups. 

Ministers said they had signed a joint declaration on the financing of scale-up and tech champions, with the objective of setting up “a 10 billion-euro initiative enabling the creation of 10 to 20 pan-European funds.” Bloomberg reports

*CBI Insights Chart EU startups map

The new pledged fund, called the European Tech Champions Initiative

Will be managed by the European Investment Fund, a subsidiary of the European Investment Bank, according to a statement




Photo:eu startups