Scientific startups will receive an additional source of funding
Publishedо 9 April, 2019
The Ministry of economy and communications of Estonia announced the creation of a new investment fund Early Fund II and allocation 10 million euros for its work. The main users should be small high-tech companies.
The fund will be managed by KredEx, which is a specially created financial institution aimed at simplifying the process of financing enterprises and reducing the risks of lending to projects related to exports. Smartcap company as a subsidiary of KredEx will be tasked with attracting additional finance, as well as finding experienced managers to work with finances.
The fund's resources will be used for lending to small and medium-sized high-tech enterprises engaged in science-intensive development. Financial support at an early stage for such companies is important, as well as assistance in management. Ultimately, Early Fund II should create new jobs and increase the volume of exports from Estonia.
Source: baltic-course.com
The fund will be managed by KredEx, which is a specially created financial institution aimed at simplifying the process of financing enterprises and reducing the risks of lending to projects related to exports. Smartcap company as a subsidiary of KredEx will be tasked with attracting additional finance, as well as finding experienced managers to work with finances.
The fund's resources will be used for lending to small and medium-sized high-tech enterprises engaged in science-intensive development. Financial support at an early stage for such companies is important, as well as assistance in management. Ultimately, Early Fund II should create new jobs and increase the volume of exports from Estonia.
Source: baltic-course.com
