Google boosts European start-ups with €73 million fund

Google has set up a fund to financially stimulate European entrepreneurs. Initially, the company has set aside 100 million dollars, converted 73 million euros, to give tech startups in Europe a boost.

Google houses the European branch of Google Ventures in London. “We want to invest in the best ideas of European entrepreneurs and help them turn those ideas into reality,” says Google. Google mentions SoundCloud, Spotify and Supercell as examples of successful European start-ups.

Google founded Ventures in 2009. According to Google, the fund distinguishes itself by not only providing financial support, but also providing development, design, marketing and product management assistance. Not only Google is stimulating the European tech industry. The European Commission also supports the technology sector financially with numerous investment projects. The EU recently promised the European electronics industry another EUR 5 billion.