Corona: More money for start-ups in Saxony

The Mittelständische Beteiligungsgesellschaft Sachsen (Saxony Medium-Sized Investment Company) is providing even more capital to pandemic-affected startups. The Corona Startup Aid Fund has been increased to €40 million.

This article is part of the special feature GründerNavi – for founders and young companies

The state government in Saxony is providing more funding to startups affected by the pandemic . The Corona Startup Relief Fund, managed by the Mittelständische Beteiligungsgesellschaft Sachsen (MGB), has been increased to 40 million euros. At the same time, the maximum funding amount per startup has been raised to two million euros.

Term extended

Information and application: Here you will find further information and application forms for the aid fund. The fund's duration has been extended, so founders can now benefit until December 31st of this year. The aid fund aims to mitigate the financial impact of the coronavirus pandemic and strengthen Saxony's young entrepreneurs. Applications are accepted by MBG.

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Compensate for liquidity difficulties

The fund was launched in August 2020 with an initial endowment of €30 million . It targets knowledge-based, technology-oriented startups in Saxony across all sectors that have experienced liquidity problems due to the effects of the COVID-19 pandemic . The fund provides equity capital or equity-like financing in the form of silent partnerships to Saxon startups.

Source: State Government of Saxony

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