Commission delivers €100 Millions to tech startups and SMEs – puts money where mouth is

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Around 1000 start-ups and other highly innovative companies will receive grants from a new €100m funding round from the European Commission’s Future Internet Public-Private-Partnership to develop apps and other digital services, in areas such as transport, health, smart manufacturing, energy and media.

European Commission Vice President Neelie Kroes said: “I promised action at Le Web in Paris last December and now I am delivering. We need more innovation and a more digital economy in Europe and that starts with a better ecosystem for start-ups. We’re putting our money where our mouth is.”  This third stage of the partnership’s funding aims to develop new Internet applications and services for a wide range of areas. Funding will be channelled through 20 consortia – teams from the internet ecosystem – which includes: accelerators, crowd-funding platforms, venture capitalists, co-working spaces, regional funding organisations, technology companies and SME associations, technology companies.

The successful consortia will be selected according to how they plan to maximise the economic impact of their funding across the Internet eco-system. Here to read more.

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