Hamburg extends coronavirus aid for start-ups and SMEs
IFB Hamburg has extended its Corona Recovery Fund (CRF) for SMEs until June 30, 2022. Funded by the City of Hamburg and the federal government, the CRF provides venture capital for innovative start-ups and growth-orientated SMEs that have been hit by the pandemic.
Applications until late May
Technologically innovative start-ups and fledgling, innovative companies with non-technological products, services, process and business model innovations are eligible for the grants, according to IFB Hamburg. Other growth-orientated SMEs with a maximum annual turnover of EUR 75 million can also apply for CRF until May 31, 2022 on IFB Hamburg's website.
Aid for 240 companies
Around 240 start-ups and companies have received more than EUR 80 million in venture capital from the CRF since July 2020, according to Martin Jung, Head of IFB's Innovation and Business Development. In addition to simply ensuring survival, the aim is also to provide companies with capital to exploit existing growth opportunities.
The Hamburgische Investitions- und Förderbank (IFB Hamburg) supports housing and economic development as well as environmental protection and innovation projects. IFB Hamburg is the main point of contact for private individuals, companies and institutions in Hamburg and advises about all of Hamburg's funding offers and those of the German government and the European Union. More information can be found on: www.ifbhh.de