When you think of world changing-inventions, you tend to picture some historic innovation like the light bulb, the steam engine or the telephone…in short, an event far removed from yourself, lost in the foggy romanticism of the distant past.
But did you ever stop to think that some of the world’s greatest and most revolutionary inventions may be just around the corner? The folks over at Google Ventures (the enterprise investment arm of the internet giant) certainly have, and in support of great European innovators and entrepreneurs they’ve just announced a new fund which will make available a huge pot of £100 million for the development of some of the continent’s most innovative and ground-breaking ideas.
Since its establishment in 2009, Google Ventures has wracked up an impressive portfolio of 250 partner companies from all around the world and has been instrumental in the development in some of the biggest success stories of recent times including Spotify and Soundcloud.
This latest announcement of their first ever Europe specific investment fund is a huge vote of confidence for the European startup community, in which Google Ventures pledges to find, nurture and develop Europe's most disruptive startups!
So who are they looking for?
You would be forgiven for imagining that they will only be interested in hearing from super savvy tech businesses looking to revolutionise the way that people behave online, but thankfully this is not the case ! Traditionally Google Ventures has taken a much more inclusive approach when it comes to investment, with a portfolio that to date includes companies working in mobile technology, commerce, enterprise, data, health and life sciences!
This time round will be no different, with Google's broad shoulders and global influence on offer to startups in a huge range of industries across Europe. Google Ventures managing partner Bill Maris says;
“When we launched Google Ventures in 2009, we set out to be a very different type of venture fund. Startups need more than just capital to succeed: they also benefit from engineering support, design expertise, and guidance with recruiting, marketing and product management”
Their new office is set to be in the Clerkenwell, a just around the corner from London’s hive of tech activity, the perfect place from which to survey Europe’s startup ecosystem and mull over which innovations to give their full backing to!
A comprehensive programme for the allocation of funds has yet to be announced, but I think we can be fairly confident, it won't be too long now.
By Eoin O'Hara - tweet him @StartacusEoin
Find out more about Google Ventures