Cabinet releases 24 million euros for start-ups

24 million euros will be made available for start-ups in the field of artificial intelligence, as well as, medical and water technology. This was announced by outgoing Minister of Science, Ingrid and Engelshoven and outgoing State Secretary of Economic Affairs, Mona Keijzer, the ANP reports.

The funding will be distributed equally among three partnerships with different universities and research centers, among others the Eindhoven University of Technology (TU/e) and the Universities of Amsterdam, Nijmegen and Utrecht. The TU/e partnered with three hospitals – the UMC, Erasmus and Radboud - to apply their medical innovations.

The first eight million euros will go towards the development of artificial intelligence in the department of medical care and safety. The second part of the support package goes to improving medical diagnostics and treatments. The rest of the funds will go to research on the circular use of water and natural resources.

In 2019, the ministries also released 24 million euros for start-ups. At the time, the funds were invested, among other areas, the development of thrombosis medication.

Keijzer hopes that the investments will lead to “ the foundation of new scientific companies.” Van Engelshoven said it is important that universities continue scientific research throughout the pandemic.