The Czech government has plans to create a €55m fund of funds to back three independent VCs — including a fund focused exclusively on university spinouts in the field of AI.
The fund of funds, which will be managed by the European Investment Fund (EIF), is a “pilot” project, the country’s ministry of industry and trade confirmed to Sifted.
€15m of the fund will go to the AI technology transfer fund and is part of a new, wider push from the Czech government to create a better environment for the country’s AI scientists to commercialise their research. The government also hopes the fund and spinouts it backs cooperate with the wider AI research ecosystem in Europe.
Full story: Czech Republic to invest in AI university spinouts via new €55m fund of funds | Sifted
