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New fund for Noord-Holland based Startups

Innovation Fund Noord-Holland is an initiative of province and UvA/AMC/HvA Holding companies.

Entrepreneurs (SMEs) and university spin-offs (startups) in the Noord-Holland region may now apply for a new innovation fund for financial resources. The Innovation Fund Noord-Holland is a collaborative initiative of the province of Noord-Holland and the holding companies of the University of Amsterdam (UvA), the Amsterdam Medical Center (AMC) and the University of Applied Sciences Amsterdam (HvA). Sanquin B.V. has also recently been added as a fund partner. In time, 21 million euros in total will become available. The fund supports sustainable innovations of SMEs and knowledge institutions’ spin-offs.

Deputy of Sustainability Jack van der Hoek says: “Entrepreneurs and scientists should have the space to develop their ideas for innovative products and services into workable models. This is essential to a sustainable future. Traditional financiers are often afraid to invest in the early stages of development. That’s why we founded this fund.”

From idea to practice

The Innovation Fund aims to provide loans to projects in the so-called proof-of-concept phase. In this phase, the concept still needs to be worked into a prototype. The holding companies of UvA, AMC and HvA help to bring knowledge from within the institutions onto the market. Peter Krijnsen, CEO of all three holding firms, says: “By investing in this fund, we offer a solution for starting SMEs. Not only do we provide a better connection to follow-up investments, but we also stimulate collaborations between startups and corporates.”

Sustainable & innovative growth

The first round of applications is currently open to companies. There is a special focus on initiatives within the circular economy, sustainable mobility, energy transition and healthcare. Europe contributes five million euros to the fund, the province of Noord-Holland is adding another 8 million. In total, the province is investing 18 million euros in sustainable and innovative SMEs. Besides the Innovation Fund, the money is used for several province-backed programs such as GO-NH and the Programma Innovatief en Investeringsgereed MKB (PIM). The province hopes to support up to 30.000 SMEs and 350 innovative entrepreneurs and help them realize their growth.

Read the official press release here

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