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

High-tech startups in the Northern Netherlands are getting an important new partner to continue growing. On 19 September 2024, Future Tech Ventures (FTV) was officially launched at the Startup Festival in Groningen. The proof-of-concept fund, with a size of around 20 million euros, was created through a collaboration between Triade, RUG Ventures, NV NOM and Investeringsfonds Groningen. FTV is poised to guide and fund dozens of high-tech startups in the Northern Netherlands over the next five years.

Photographer: Douwe de Boer

Niek Huizenga, fund manager of Future Tech Ventures: ‘Future Tech Ventures is a unique fund for the Northern Netherlands due to the cooperation of existing parties. It is a fantastic instrument to strengthen the innovative power in the North. We invest in the proof-of-concept phase, with funding, business support and network. The first steps with several founders for future investments have been taken. Soon, we will be able to reveal more about what lies ahead.’

Support with €20 million

The fund has a size of around €20 million and has been partly funded by European grant from the Just Transition Fund (JTF) of €10 million

The remaining funding comes from the collaborating partners in FTV and co-investors. The goal is to fund and guide at least 50 high-tech startups in the Northern Netherlands from their initial technology development phase to investable startups within five years.

Jan Timmer, fund manager Investment Fund Groningen: ‘Future Tech Ventures will become the incubator of high-tech startups in the Northern Netherlands, thanks to the intensive cooperation of the partners and strengthened by the JTF contribution. In order for the startups to grow further, more capital is also needed eventually. Future Tech Ventures is therefore already being followed with great interest by venture capital investors with whom we have a good relationship.’

Joining forces for high-tech innovation

The collaboration within Future Tech Ventures enables the partners to combine their expertise and networks, giving startups access to all the resources they need through one central point. Edward van der Meer, director of Triade: ‘Future Tech Ventures is the result of years of cooperation between experienced parties in the Northern Netherlands. By joining forces from Triade (UMCG), RUG Ventures, Investment Fund Groningen and NOM, we can support startups even better and further put the region on the map as a breeding ground for high-tech innovation.’

Lasting social impact

The launch of Future Tech Ventures marks an important milestone for the startup community in the Northern Netherlands, providing high-tech startups with a solid foundation for further growth. Niek Huizenga underlines the importance of guidance in the early life phase: ‘Startups are often in a very early phase where funding is difficult to obtain and where there are still many risks in terms of technology, market and team. This is why Future Tech Ventures offers not only financial support, but also intensive coaching from incubation, follow-on investment to exit. We aim to ensure that these startups not only become economically successful, but also make a lasting social impact.’