The Eindhoven city council has set up an emergency fund for startups in the Brainport region. Many of these businesses are struggling as a result of the corona crisis. The council has already put 100,000 euros into the fund.
Startups can borrow money from the fund to keep afloat, as investors are withdrawing money from these types of companies. A first estimation shows that about 150 companies have gotten into trouble. The Eindhoven city council has decided on a maximum of 30,000 euros per company.
As the first donation will not be enough, the city council is talking to various public and private parties to contribute to the fund. According to Economics councilor Stijn Steenbakkers, the money is necessary to save the startups. He hopes to announce other sponsors shortly.