The topic of a repeated topic in the European Tech world is that the region needs its Google or Microsoft, and should be more flexible and free, in that day and age, it should be built and created. Now a new fund has been launched to support the move.
Project Europe – A new fund for the founders “solving difficult problems with technical solutions” – says it has initially raised $ 10 million from Europe and 128 different founders and tech executives since the beginning of the front. (List, what you can See hereThe founder of the Kalarna, the founder of the wrong and the sound cloud, will get successful recipients will get 000 200,000 (about $ 200,000) to prepare their ideas.
Any companies that result from this investment need to start in Europe, but there is no restriction on transferring them later. The founders also do not need to be fully formed to apply. You can apply with an idea or if you are “revolving around an article”, the fund notes on its site.
There is another warning. If you are more than 25 years old, stop reading now. The project Europe is restricting its awards to only 25 years and younger.
In the round, an investor described the age -related need as a way of “supporting the next generation of founders”. This focus on young founders reminds her Bag fellowshipWhich refers to the college dropout in the United States, 000 100,000, however, the project is not a dropout clause in Europe.
There has been widespread debate about how Europe has failed to take advantage of the opportunity to create a mega -tech business comparing Meta, Apple, or Google over the past few decades. In many ways, this is a classic chicken and egg problem.
Something has indicated that Lack of financial support for the development phase As a major obstacle that runs the founders to go to the United States, or to sell when they come with opportunity.
Other people look at this problem in another way. Ian Hogart, Founder-VC, who has been one of the most obvious people on this topic, wrote about how highly promising companies are moving or Sell very quickly. In other words, we will never know if the lack of financing development will be a hindrance to. (The Hogarter project is not included in the list of people supporting Europe.)
This is dominant. There is a combination of reasons why Europe has so far developed a trillion dollar technology company at the behest of hypersonal running from the United States and Asia. And it is worth discussing that financing seeds is an important gating factor in these people.
On the other hand, if the project Europe opens the field for a wide group of people who may not have the opportunity otherwise, it may have achieved something in democratic democracy. The initial phase is a phase of spreading batting. If this can be proof in which the U -25s ends in the coat, it will also depend on what they do as a result of funding.
Project Europe says preliminary investment will give him 6.66 % equity in new ideas/business if it is leading investment (if not less).
In addition to this amount, colleagues receive a patronage of one to 1: 1 of the nine partners in the fund – which includes Victor Raperbelli, from Cynthia, Matthew Stenszysky, from eleven lobes, and Spike Games (and single female partner).
Other payments include access to 119 others in the fund for advice. Harry Stabings, an investor made of podcaste in 20VC, who has built a business out of development hacking and Micro investmentProject is one of the creators of Europe. He, too, is offering access to his wider media empire as part of the contract.