"INVEST" - Changes In The Government Backed Program For Venture Funding

Last year the German Government introduced a program to support venture seed and pre-seed investments into innovative start-ups from private investors. The basic idea was that private investors will get a 20% payback from the Government on their investment if the criteria applicable to investor and start-up are met. In April 2014 the Government re-launched the program which is now called "INVEST". These changes came into effect on April 22, 2014 and are summarized below. German Government has allocated a total of EUR 150 million in funds until 2016 in the official budget. Main changes include:

• Expansion of the range of innovative industries eligible for the INVEST program to now also include the production of technical textiles, surface and heat treatment as well as medical and dentistry technology;