The East Netherlands development agency Oost NL has announced a first-of-its-kind new business loan awarded to Nijmegen’s Odyssey Europe. Oost NL’s “Loan for new businesses” of up to 250,000 euros is designed to help international companies establish a foundation and contribute to the economic and social success of the East Netherlands. A subsidiary of the American Odyssey Technical Solutions, Odyssey’s Novio Tech Campus RF repair shop will use the funds to accelerate its growth plans and add to its capacity by building out new laboratory space, purchasing new test equipment, doubling its number of work benches and growing its team up to 25 employees by the year 2023.
“Oost NL helped us last year with our establishment at the Novio Tech Campus. Nijmegen is a great location for us: there’s a lot of knowledge in the field of semiconductor industry and we can work together with other companies and knowledge institutions,” says Angelo Andres, director of Odyssey Europe. “With this loan, Oost NL supports us to take the next step and grow further. Without this loan, our growth path would have been significantly delayed. Now we can serve more customers better.”