Flanders invests €30m in Imec

The government of Flanders is putting €30 million into the imecXpand investment fund aimed at companies that work on commercialising IoT technology.

Imec CEO Luc van den Hove

The goal is to build a fund of €100 million for which Imec is looking towards private partners and the European investment fund.

“The fund will support start-ups that do not have access to traditional financing methods in their commercialization of IoT technology,” says Imec CEO Luc Van den Hove (pictured), “the kind of technology that connects the physical objects around us over the internet.”

Companies receive funding after review by a panel of experts.