Future Tech Ventures (FTV), a newly established venture capital firm, has officially launched in Groningen with a significant focus on supporting high-tech startups in the Northern Netherlands. With an initial fund of €20 million, FTV aims to assist at least 50 startups in the crucial proof-of-concept phase.

Funding Details

The investment period for this fund is set to span from 2024 to 2029, targeting innovative startups that often face challenges in securing early-stage funding. Niek Huizenga, fund manager at FTV, emphasized the difficulties startups encounter in this phase, stating, “Startups are often in a very early phase where funding is difficult to secure, and there are significant risks related to technology, market, and team.”

Comprehensive Support for Startups

In addition to financial backing, Future Tech Ventures will provide a range of business support services, networking opportunities, and strategic guidance to help startups navigate their growth journey.

Key Collaborators

The fund is a collaborative effort involving several key players in the local ecosystem, including:

• Triade
• RUG Ventures
• NV NOM
• Investeringsfonds Groningen

Edward van der Meer, director of Triade, highlighted the importance of this collaboration: “Future Tech Ventures is the result of years of collaboration between experienced parties in the Northern Netherlands. By bringing together the strengths of these partners, we can better support startups and position the region as a hotspot for high-tech innovation.”

The Landscape of Dutch Startups

While North Holland (including Amsterdam), South Holland, and North Brabant have traditionally been the largest startup clusters in the Netherlands, attracting 85% of total Dutch VC investment in 2023, efforts are now being made to strengthen startup ecosystems across the entire country.

Complementary Initiatives

FTV’s launch coincided with the introduction of “Founded in the North,” an initiative aimed at supporting founders and enhancing connections within the local ecosystems of Groningen, Friesland, and Drenthe.

Important Information

• Fund Size: €20 million aimed at supporting at least 50 startups.
• Investment Period: 2024 to 2029.
• Support Offered: Financial backing, business support, and networking opportunities.
• Collaborating Partners: Triade, RUG Ventures, NV NOM, and Investeringsfonds Groningen.

With the establishment of Future Tech Ventures, the Northern Netherlands is poised to enhance its status as a burgeoning hub for high-tech innovation, supporting the next wave of startups in their development and growth.