Poland Sets Up $1.1 Billion Program to Spur Local Tech Industry

Poland is setting up a 4 billion zloty ($1.1 billion) program, which will initially be fueled largely by taxpayers, to spur local technology companies and help scale up home-grown innovators.

A unit of state development fund PFR SA and the European Investment Fund will jointly run the program tasked with supporting local tech firms through investments into venture capital, private equity and private debt funds, the government said in a statement on Friday.