€1Bn DeepTech and Climate Fund Unveiled
Germany recognizes the strategic importance of startups in combating the climate crisis. Now the Federal Ministry for Economic Affairs and Climate Action has launched the DeepTech & Climate Fonds (DTCF) to support the most promising growth-stage ventures, as Sifted.eu reports. This comes after some prominent German unicorn founders called for more growth capital, faster visa procedures for foreign talent, and a reform of the pension scheme in an open letter to the German government last year. Areas covered by the new fund are Industry 4.0, robotics, artificial intelligence, quantum computing, process automation, digital health, new energy, smart cities, new materials, and biotech. DTCF is to act as co-investor and partner of institutional investors and family-offices. Young companies with a validated technology-based business model have good chances and should enquire. Head of the fund is Dr. Elisabeth Schrey.