4impact has received €6m in funding from the Ministry of Economic Affairs and Climate Policy
The Hague, The Netherlands - 4impact has received €6m in funding from the Seed Capital scheme set up by the Ministry of Economic Affairs and Climate Policy (‘EZK’). The fund continues to grow and now has €14m at its disposal for investing in tech4good startups. 4impact announced this during ImpactFest, which is Europe’s biggest impact meetup in The Hague. During this event, the fund also announced its relocation to Apollo 14, the startup hub in ImpactCity The Hague.
4impact invests in young Dutch businesses with initial sales and international ambitions. These startups have an important mission: creating innovative digital solutions which improve our planet. 4impact focusses on tech startups that combine impact with strong commercial business models. The fund helps these startups to scale successfully through its financial, strategic, commercial and operational support. Their investment sectors are based on the United Nations’ 17 Sustainable Development Goals: Environment, Inclusion, Health & well-being.
Thanks to the €6m contributed by the Ministry of Economic Affairs and Climate Policy (EZK), the fund now has €14 million at its disposal for investing in these startups. Its ambition is to expand further up to a total fund size of €20 million.
State Secretary of EZK Mona Keijzer comments: "impact’s focus on new businesses that enthusiastically welcome societal challenges and digitalization fits in perfectly with my economic policy as laid down in my action plan for SMEs: using today’s technology to create sustainable solutions. We really need these smart and innovative startups to help us tackle the huge social challenges posed by sustainability measures."
At time of going to press, 4impact has already invested in two businesses, with more to follow: Envision uses Artificial Intelligence to currently enable 50,000 blind people in more than 60 different countries to live more independent lives. It speaks out the world that we see. Envision won the Google Play Award and the Computable Startup of the Year Award earlier this year. Solar Monkey is the Dutch market leader in B2B software for solar panel installers, and is currently expanding into Belgium and Spain. Solar Monkey won Deloitte’s Most Disruptive Innovator Award last month. Both businesses are headquartered in The Hague and are showing substantial growth right now.
Deputy Mayor Saskia Bruines (Economic Affairs and International Affairs) comments: "Collaboration between the municipality of The Hague and 4impact is a logical step towards expanding The Hague as an influential tech community. So I’m very happy indeed that 4impact has selected our city as a location for establishing its fund. ImpactCity The Hague has clearly demonstrated that The Hague is becoming increasingly entrepreneurial in Europe. This is due to active policy intended to boost innovation and ‘doing good and doing business."
4impact was set up by Pauline Wink and Ali Najafbagy. The fund is one of the founding partners of the #FundRight initiative, and believes that diversity contributes towards future success. 4impact deliberately selected ImpactCity The Hague as its headquarters.
Pauline Wink comments: ‘The Hague has strong international ties and this fits in perfectly with our fund’s ambitions and the tech4good startups we invest in. We’re investing in a better future in collaboration with The Hague, the Netherlands and our international partners.'
The Hague is the ideal city for impact makers wanting to work towards a better world. As ImpactCity, The Hague offers a comprehensive range of opportunities and services for entrepreneurs with innovative impact ideas. Our city fosters ‘doing good and doing business’ in all kinds of practical ways, such as helping people find somewhere to live and providing start-up hubs, funding options, and a marvelous infrastructure. The Hague is renowned worldwide as International City of Peace and Justice, with its famous institutions such as the Peace Palace, the International Court of Justice, Europol and the International Criminal Court. Tens of thousands of people in The Hague are working towards a better future every day, while new impact makers from countries all over the world come to The Hague in order to tackle global challenges.
The Seed Capital scheme (venture capital) helps tech startups and creative startups to acquire venture capital. The government makes use of this scheme to provide capital to investment funds that use venture capital to invest in innovative entrepreneurs in the high-tech sector and the creative sector.