3D Printing Firm Kicks Off One-Billion German Start-Up Fund
The German government’s DeepTech & Climate Fund (DTCF), which will dole out as much as EUR one billion to fledgling companies the years to come, has made its first investment. The Berlin additive manufacturing company xolo will receive EUR eight million in public and private support.
The investment comes as Germany signed on to the EUR 3.75 billion European Tech Champions Initiative (ETCI) with four other EU states. It will see the German government invest an additional billion euros in fledgling innovative companies in Europe.
“Start-ups are playing a decisive role in the transformation of our economy toward climate neutrality,” said Robert Habeck, Minister for Economic Affairs and Climate Action in a statement. “With the Deep Tech & Climate Fonds and the European Tech Champions Initiative, we are realizing central aspects of our start-up strategy. They represent major milestones in the long-term, sustainable financing of technology start-ups in Germany and Europe.”
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