Three major German high-technology companies support founders of high-tech start-ups. At the end of 2006 DaimlerChrysler, Bosch and Carl Zeiss contributed six million Euros joining a fund for high-tech start-ups which had been set up in August 2005 by the German government, industry and the KfW bank. At the same time the KfW bank increased its contribution from 11 to 15 million Euros.
Thus, in total the assets under management increased by ten million Euros. Adding the 240 million Euros contribution by the Federal government the trust has currently more than 272 million Euros for a five-year investment period at its disposal during which it is going to support business start-ups.
The financial resources provided by the fund will serve as a first financial support for newly founded high-tech companies. First round financing will provide up to half a million Euros per high-tech company founder. Since its start the trust has already committed itself to the funding of 70 companies. More information on it is available on the internet.