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UK, France, Germany commit $8.1 billion for startups
Earlier this week, the United Kingdom announced a £1.25 billion ($1.6 billion) initiative to support the country’s startups. One program within the initiative provides £500 million in the form of loans up to £5 million that are matched by private funders to companies that have raised at least £250,000 in the last five years. The remaining £750 million will be managed by Innovate UK and provide loans and grants to R&D-focused companies. The U.K. is not the only European country to invest in startups: France announced a plan in March to spend €4.0 billion ($4.3 billion) through a combination of refinancing, early payments on tax credits and planned investments, and guarantees, and Germany has €2.0 billion ($2.2 billion) committed to funds that continue making investments.