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Imec.istart’s startups pass €1B funding milestone
Startups incubated at Imec’s startup accelerator Imec.istart have cumulatively raised over 1 billion euros. “For young tech companies, funding research and development as well as the first steps of taking their products to market is often a necessity. In that respect, the milestone of raising 1 billion euros in funding is primarily a harbinger of a particularly robust multiplier effect that could translate into strong growth for our portfolio companies in the coming years,” says Imec.istart director Sven De Cleyn.
Imec.istart kicked off in 2011 and has since supported 341 new firms, of which 63 have been acquired by other companies or through management buy-outs. Despite many startups targeting international markets, over 90 percent stick to their home base Flanders.