Launch of Future Tech Ventures: new proof-of-concept investment fund for high-tech startups in the Northern Netherlands

High-tech startups in the Northern Netherlands will have an important new partner to further their growth. Today, Future Tech Ventures (FTV) was officially launched during the Startup Festival in Groningen. The proof-of-concept fund, worth around €20 million, has been established through a collaboration between Triade Investment, UG Ventures, NOM, and Investeringsfonds Groningen (Groningen Investment Fund). FTV is ready to support and fund dozens of high-tech startups in the Northern Netherlands in the coming five years.

Niek Huizenga, fund manager at Future Tech Ventures: ‘Future Tech Ventures is a unique fund for the Northern Netherlands through the collaboration between existing parties. It is an amazing instrument to strengthen the innovative power in the North. We invest at the proof-of-concept stage with funding, business support, and a network. The first steps with various founders for future investments have been taken, and soon we will be able to reveal more about what is to come.’

Giving support with €20 million
The fund is worth around €20 million and is co-financed by a European subsidy of €10 million from the Just Transition Fund (JTF). The remainder of the fund comes from the collaborative partners in FTV and from co-investors. The goal is to fund and support at least 50 high-tech startups in the Northern Netherlands from the first technological development stage to investable startups in the first five years.

Joining forces for high-tech innovation
The collaboration within Future Tech Ventures enables the partners to combine their expertises and networks, which ensures that startups have access to all the necessary resources through one central desk. Edward van der Meer, Director of Triade: ’Future Tech Ventures is the result of years and years of collaboration between experienced parties in the Northern Netherlands. By joining the forces of Triade (a UMCG company), UG Ventures, Investeringsfonds Groningen, and NOM, we can support the startups even better and help raise the region’s profile as a breeding ground for high-tech innovation.’

Lasting societal impact
The launch of Future Tech Ventures marks an important milestone for the startup community in the Northern Netherlands and offers high-tech startups a firm foundation for their further growth. Niek Huizenga underscores the importance of support in the starting phase: ‘Startups often find themselves in that very early phase where it’s difficult to obtain funding and where there are still many risks in the area of technology, market, and team. That’s why Future Tech Ventures doesn’t only offer financial support but also intensive guidance from incubation to follow-up investment to exit. We aim for these startups to not only become economically successful but also to make a lasting societal impact.’

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The collaborative partners about Future Tech Ventures:

Corina Prent, Managing Director of UG Ventures: ‘It‘s incredibly valuable to be able to do the most challenging part of investing — the early phase — together with partners. The fund builds on the experience of the team and joins forces so we can help develop and market startups with a societal impact together.’

Jan Timmer, fund manager at Investeringsfonds Groningen: ‘Future Tech Ventures will be the incubator for high-tech startups in the Northern Netherlands thanks to the intensive collaboration of the partners and strengthened by the JTF contribution. In order to let the startups continue to grow, we will ultimately need more capital. Venture capital investors with which we have good relations are therefore already hugely interested in what we’re doing with Future Tech Ventures.’

Marco de Jong, investment manager at NOM: ‘With the emergence of this fund, more capital will become available to more startups, but we are convinced it will also increase the chance for success of high-tech businesses that are just starting out.’

Launch of Future Tech Ventures and Founded in the North
On 19 September, Future Tech Ventures and Founded in the North were launched together at the Startup Festival. Future Tech Ventures , a new proof-of-concept investment fund, provides the necessary support, business development, and funding for startups. The services of Founded provide the supporting infrastructure that startups need to grow and continue to grow. The joint launch creates numerous chances for startups in the Northern Netherlands. Both projects have received European subsidies through the Northern Netherlands Provinces Alliance (SNN). Future Tech Ventures has received €10 million from the Just Transition Fund (JTF). Due to the consequences resulting from making the industry more sustainable and stopping the gas extraction the Just Transition Fund has resources to strengthen the region— resources to make the industry more sustainable and to diversify the economy. Future Tech Ventures’ efforts fully align with these objectives.