Several of Europe’s most important soft-money initiatives are happening at the regional level.In Part 2 of our series ‘Backing European Biotech’, we focus on Belgium, whose North-Eastern region of Limburg is beginning to stand out as a particularly attractive venue for biotech.Substantial tax breaks are one key driver; another is LRM, originally a regional government regeneration fund but now more like a VC, offering funding, support and, increasingly, infrastructure.
In tough economic times such as today’s, government ‘soft money’—loans and grants designed to support what’s often a fledgling sector in most economies—arguably takes on a more important role.The downturn has triggered several new—or invigorated—government initiatives across Europe, both at national and regional level.Part 1 of this mini-series looks at Norway, which hit the headlines at the beginning of the year with a €318 million ($475 million) package of grants, soft money and loans for innovative industries.Is the scheme working?
