Nanotech investment fund gets €30m from government
ImecXpand, set up by Leuven’s imec, will help develop start-ups in nano-electronics and sensor technology and bring their products to the market
Wealth of opportunities
The aim is to set start-up companies in this field on the right track. “ImecXpand will support start-ups that want to develop imec technology and bring it to the market, but because of the risks involved they don’t have access to current funding methods,” said Luc Van den hove, CEO of imec. “It will also support ideas from outside imec that can, combined with imec technology, lead to a start-up company.”
The Flemish government is investing €30 million in the initiative. “The Internet of Things can improve the quality of our lives and jobs almost automatically,” said economy minister Philippe Muyters (pictured). “There is still a wealth of opportunities in smart health, smart manufacturing, smart transport and smart cities.”
The goal is to raise a total of €100 million through imecXpand. For additional support, imec is looking to private partners and the EU.
Photo courtesy imec
million euros in annual subsidy from the government of Flanders