ASML and Philips launch Brabant technology fund of 100 million euros

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Photo credit: Alain Heeren/Studio040

Philips and ASML are initiating a special investment fund for young technological companies in the region. This is done to stimulate innovation and is in partnership with other organisations. These include the Brabant Development Company (BOM), research institute TNO, pension fund PME and government fund Invest-NL. The fund contains at least 100 million euros.

The new fund will be called DeepTechXL Fund I, as it will focus on complex technologies, including photonics (for example sharing information into chips using light) and artificial intelligence.

In addition to access to capital, the start-ups are guided by technology companies from Brabant. This includes access to their network, knowledge, technologies, and licenses.

“The uniqueness of DeepTechXL is that intensive use can be made of the knowledge and experience of companies and knowledge institutes within Brainport,” says ASML CEO Peter Wennink. “This allows us to make the necessary combination of knowledge, talent and money available to start-ups and scale-ups in deeptech in the Netherlands.”

Deeptech companies look for technological solutions to complex technical challenges. The companies also want to help start-ups to acquire their first customers, enter new markets or expand production where necessary.

Source: Omroep Brabant

Translated by: Yawar Abbas

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