In 2017, the imec.istart Fund was established thanks to the Flemish Government, imec, ING, BNP Paribas Fortis, Telenet and Cronos Groep. With a starting capital of 12.5 million EUR, the fund could guarantee pre-seed funding for our selected startups until 2022.
The Flemish Government and our strong private partners have now agreed to convert imec.istart Fund into an ‘evergreen’ fund, allowing us to support new startups in the long term. An extra 14.4 million EUR will consequently be injected into the fund.
The initial pre-seed funding by imec.istart has an important leverage effect on attracting follow-up funding. Today, our startups have attracted more than 256 million EUR follow-up funding. This means that every euro invested by the imec.istart Fund generates 24 EUR funding through other sources. The initial investment and thorough support enable young startups to grow from a solid base. By giving the imec.istart Fund the evergreen status, the capital that returns form exits can be reinvested in the new generation of startups.