Limburg Startup Capital Fund launched

Maastricht, April 1, 2022 - As of today, it is possible to apply for the Limburg Startup Capital Fund (LSCF). This fund is for startups and SMEs that contribute with their innovation to the most important societal transitions for the coming years: energy, circularity, health and digitalization. With a total capital of € 32.65 million, a lot of funding for early stage innovations becomes available. The fund is made possible by the Ministry of Economic Affairs and Climate Change, the Province of Limburg and LIOF, which will also be responsible for its implementation.

Early phase funding needed for Limburg

Limburg has unique strengths to develop innovations and bring them to the market. For example, there is a strong innovation and knowledge infrastructure with colleges, Maastricht University and Brightlands campuses where startups can conduct research and development in numerous areas. SMEs are also working on smart, sustainable and healthy solutions for tomorrow. Limburg is also closely connected to the innovative Euregion around Hasselt, Liege and Aachen. This setting makes Limburg the breeding ground for innovations that offer solutions to societal challenges. However, research and development costs a lot of time and money, and funding is needed to test and enable these early-stage innovations. Banks are reluctant to provide financing because of its risky nature. With the opening of the Limburg Startup Capital Fund, this early stage funding is now available for entrepreneurs in Limburg.

Micky Adriaansens, Minister of Economic Affairs and Climate (EZK): "The province of Limburg and the Ministry of Economic Affairs and Climate want to support entrepreneurs so that they can make even better use of their ideas and opportunities. With the early-stage financing, we offer them the opportunity to develop these innovations. By joining forces and looking for that local proximity, I expect that we can make more impact. Entrepreneurs close to home have easy access to that funding and support and the barriers are lower. With that, we hope that we can bring more young companies to growth and maturity in the near future."

Tackling societal transitions

Funding is possible if there are innovations with social impact. This means that the idea or innovation must contribute to one of the transitions: energy, circularity, health or digitalization. These transitions are important and relevant for Limburg; they make companies competitive and sustainable, the region future-proof and ensure the preservation and growth of employment. An example of this is Blockheating. Blockheating uses the heat released in data centers to heat greenhouses and buildings. A win-win. For the data centre, for the company that uses the heat and for the environment.

Two types of funding available

The Limburg Startup Capital Fund has two sub-instruments. With the Limburg Early Phase Fund (LVFF), we finance innovations - whose feasibility has been demonstrated - in the early stages of development (the so-called 'proof of concept' phase). The Seed Fonds Limburg (SFL) is intended to financially enable the further development or growth of the innovation. Tys van Elk, director of LIOF: "We call on innovative starters and SMEs to come to us with their idea or innovation. Even if you are still searching and can use help in translating your idea into a business plan or in getting your business plan ready for financing. Besides offering financing, we can also advise entrepreneurs and put them in contact with our network. We always do this with a view to a smarter, more sustainable and healthier Limburg."  

Contact LIOF: Hortense Janssen, marketing & communications manager hortense.janssen@liof.nl, +31 (0)6 1111 1086

Province of Limburg: Marc Ruis, spokesman mjgm.ruis@prvlimburg.nl;+31 (0)6 8320 7410

Ministry of Economic Affairs: Femmy Barends, spokesperson, Ministry of Economic Affairs and Climate Change f.f.barends@minezk.nl, +31 (0)6 5016 4515