Early stage startups in Europe will be the primary beneficiaries of a
new €6 million seed fund just announced by Berlin-based Team Europe
Ventures. In the past we've talked about Europe's entrepreneurial
woes, most notably a dearth of seed funding due to having a culture
largely averse
to taking risks financially. This new fund is a good step towards
changing that trend and keeping more startups from looking for funding
elsewhere.
The €6 million fund (over $8 million) will provide up to €500,000 to early stage startups in the Internet and mobile Internet spaces over the next three years. Team Europe plans to selectively choose four to five startups each year to receive the funding, rather than quickly spreading the wealth around to any worthy recipient.
"If we feel that a business will succeed without us, but will be quicker, larger, nicer with us - than it's a case for us," said Team Europe partner Kolja Hebenstreit in a press release Tuesday. "Experience shows that decisive decisions are often made during the foundation phase, so we think it's good to speak with experienced potential partners as early as possible."
To read the full, original article click on this link: For European Startups, New €6 Million Seed Fund Is A Step In the Right Direction - ReadWriteStart
Author: Chris
Cameron
