Germany has pledged to invest about €12bn ($13.35bn) by 2030 to strengthen the venture capital environment for start-ups, according to a joint declaration signed on Tuesday at the Startup Germany Summit, as reported by Reuters.
The declaration was signed by the German government, business associations, the country’s development bank KfW and some start-ups
Germany has pledged to invest about €12bn ($13.35bn) by 2030 to strengthen the venture capital environment for start-ups, according to a joint declaration signed on Tuesday at the Startup Germany Summit, as reported by Reuters.
The declaration, signed by the German government, business associations, the country’s development bank KfW and some start-ups, includes measures to improve country's business conditions to foster innovation.
"With it, private investments in venture capital, start-ups and innovation technologies are to be mobilized," German Chancellor Olaf Scholz said in the summit. "This strengthens the German venture capital market and economic location as a whole," he added.