Cooperation between ISB and High-Tech Gründerfonds
Cooperation agreement signed between ISB and High-Tech Gründerfonds. Joint participation in newly-established technology businesses in Rhineland-Palatinate with up to EUR 600,000 in the first round of funding.
New funding opportunity for innovative technology businesses in Rhineland-Palatinate in the seed phase. The cooperation agreement is designed to allow Investitions- und Strukturbank Rheinland-Pfalz (ISB) in collaboration with High-Tech Gründerfonds (HTGF) of Bonn to make equity available to start-up businesses that are able to convert highly promising research results into commercial success.
With the aid of seed funding, start-up businesses are supported by the two partners to take research and development projects through to the prototype or feasibility stage, or straight to market launch. Dr Ulrich Link, ISB Executive Board Director, said, “Together with HTGF we can fund technology business in their start-up phases with sums of up to EUR 600,000.” This signifies the expansion of ISB’s investment offering, particularly for university spin-offs.
“It is especially important for us that the portfolio companies should perform strongly and develop. In order to achieve this we do not simply provide start-up businesses with capital but also with networks and expertise,” stressed Dr Michael Brandkamp, Managing Director of High-Tech Gründerfonds. For example, HTGF works together with accredited coaches who are available as partners to the founders with regard to all business management issues.
In order to apply for funding, young entrepreneurs and founders have to submit their business plan to ISB or HGTF. Prior information can be obtained from ISB by telephone at 06131 6172-1345, by email to firstname.lastname@example.org, or by personal consultation. Detailed information on ISB’s development programmes is available online at www.isb.rlp.de.
About Investitions- und Strukturbank Rheinland-Pfalz (ISB):
Investitions- und Strukturbank Rheinland-Pfalz (ISB) is the development agency of the state of Rhineland-Palatinate, based in Mainz. It is responsible for economic and housing development in Rhineland-Palatinate. It was created from the merger of Landestreuhandbank Rheinland-Pfalz (LTH) and Investitions- und Strukturbank Rheinland-Pfalz (ISB) GmbH on 1 January 2012.
ISB is a public institution. The bank is responsible for the promotion of SMEs and local authorities as well as the implementation of social housing assistance programmes
About High-Tech Gruenderfonds:
High-Tech Gruenderfonds invests in young, high potential high-tech start-ups. The seed financing provided is designed to enable start-ups to take an idea through prototyping and to market launch. Typically, High-Tech Gruenderfonds invests EUR 500,000 in the seed stage, with the potential for up to a total of EUR 2 million per portfolio company in follow-on financing. Investors in this public/private partnership include the Federal Ministry of Economics and Technology, the KfW Banking Group, as well as thirteen industrial groups of ALTANA, BASF, B. Braun, Robert Bosch, CEWE Color, Daimler, Deutsche Post DHL, Deutsche Telekom, Evonik, Qiagen, RWE Innogy, SAP, Tengelmann and Carl Zeiss. High-Tech Gruenderfonds has about EUR 565,5 million under management in two funds (EUR 272 million HTGF I, EUR 293,5 million HTGF II).