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Germany Sets up $12 Billion Fund to Finance Technology Startups

  • Government trying to smooth access to cash in growth stage
  • Scholz says female founders are underrepresented in sector
Startup Enterprises At Portugal's Tech Hubs

Photographer: Patricia de Melo Moreira/Bloomberg

Germany is unlocking 10 billion euros ($12 billion) to support technology startups in their growth phase, bolstering a sector that’s key for job creation in Europe’s biggest economy.

The money is to be distributed via an investment fund meant to address the difficulties startups face when trying to raise venture capital, Finance Minister Olaf Scholz and Economy Minister Peter Altmaier told reporters in Berlin Tuesday.