#Germany unleashes $2.2B to boost #startups

The German government has launched a support package worth €2 billion (about $2.2 billion) for startups affected by the coronavirus. The state will work through venture capital firms that will distribute the funds to the struggling businesses. It will also enable the umbrella funds KfW Capital and the European Investment Fund to use public capital to replace money withdrawn by other investment funds.

Separately, Germany announced that farmers, small businesses and the self-employed could now apply for benefits under a €50 billion economic assistance program passed by the country’s parliament on April 1. Both programs are part of the country’s existing uncapped aid for all businesses struggling with the economic ramifications of the virus.

2020-04-03T13:03:55+00:00 3 / 04 / 2020|News|

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