Germany pledges $12 billion towards tech startups
Germany is going all out to support tech startup companies that originate from the nation.
Germany’s Ministers for Finance and Economy, Olaf Scholz and Peter Altmaier announced that Germany’s government has decided to commit €10 billion ($12 billion) towards aid for technology startups during their early stage.
The German government’s sole aim for this is to foster more job opportunities within Europe. The fund is to be disseminated to eligible tech startup companies within Germany that struggle with raising capital through an investment fund.
Scholz and Altmaier also stated that female founders of technology startup companies within Germany will also be given topmost consideration during the dissemination of the funds to give room for more women to be at the forefront of the country’s technology and startup ecosystem.
The requirements or period in which the funds will be given to startup companies in Germany were not disclosed.
