Google sets aside $100 million for promising European startups
Genius can flower anywhere, you know, that’s why Google wants to give promising startups outside Silicon Valley a chance to explore their ideas. Mountain Valley’s particularly eyeing up-and-coming companies from Europe at the moment, so it launched a $100 million venture fund in the region. In an official blog post, Google Ventures Managing Partner Bill Maris says the company believes Europe’s startup scene has huge potential. After all, that’s where SoundCloud, Spotify and Supercell came from, and these three are now successful tech properties valuing billions of dollars, according to The New York Times. “Our goal is simple,” the blog post reads, “we want to invest in the best ideas from the best European entrepreneurs, and help them bring those ideas to life. “
$100 million, however, is small in the grand scheme of things, as tech deals reach tens of billions of dollars in total per year. Still, that’s just the initial amount Google plans to spend funding startups in the continent. And, hey, if the company’s establishing an HQ in London, there’s a chance that it won’t be the last hundred million Google’s earmarking for plucky European entrepreneurs.
Via: The New York Times
Source: Google
AIVAnet 