Rescue for startups: Europe will support the industry with money

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European countries develop rescue technology in this area

Photo: CNBC

European countries are trying to save technology startups due to the impending recession caused by the coronary crisis. France launched a 4 billion euro ($ 4.4 billion) liquidity support scheme to support the cash flow of French startups. The package includes short-term refinancing, investment in pre-planned rounds and early payment of certain tax benefits.

The German government said this week that it would provide financial assistance of 2 billion euros to help young technology enterprises stay away. The government is also considering a 10 billion euro long-term fund for large startups.

Germany and France are the leaders in the European Union countries having the most funded technology sector. According to the dealroom, the two countries raised venture capital in the amount of $ 7 and $ 5.2 billion respectively last year. Also in the top three are the UK, whose startup made a record $ 13.2 billion last year. The UK is also developing a bailout scheme for its technology industry, which could collapse in the coming months without government support.

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In the past three months, the price of Microsoft shares has almost fallen, while Amazon’s stock market rose 5.43% in the first quarter. However, the historical volatility of the market has led its technical partners to close the three-month period in the red. Apple closed down 13.4%, while Alphabet’s shares fell 13.25% in the previous quarter.

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According to the material Cnbc


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