FMO launches second edition of Finture Solutions
The Hague, 25 February 2020 - The second edition of Finture Solutions is launched today and is looking for Dutch startups and scaleups driving positive impact in emerging markets.
This year marks FMO’s 50th anniversary. We use our anniversary year to step up in the challenge to meet the Sustainable Development Goals; we only have 10 years left. We cannot tackle these challenges ourselves; we need everyone, our partners, our clients, governments and civil society to join in. Together with Rockstart, one of Europe’s first startup accelerators, we can accelerate entrepreneurial solutions to pressing issues like climate change and inequality. To join forces and help ensure that the challenge of a decade, can be the achievement of a century.
Finture Solutions aims to find and support innovative Dutch solutions in the fields of Clean Energy, AgriTech and Health. The funding options for early stage startups have proven to be limited, especially for those companies active in emerging markets. The NL Business activities of FMO fill this gap by providing development capital for the winning startups of Finture Solutions. The initiative is funded by the Dutch government.
The competition is calling for startups whose innovations can tackle global challenges such as energy shortage, strain on land and resources, and a lack of access to affordable health care. Five startups will have the opportunity to unlock development capital of up to €125,000 each, in order to develop their product and scale their solution in emerging markets. The winners will also get access to FMO’s 50-year experience of doing business in developing countries.
‘We need to speed up and scale-up, if we want to reach the SDGs in this decade. We are looking for partners, disruptors, who can help us accelerate progress. We, in turn, can help Dutch entrepreneurs get started; attracting funding and growing a business in emerging markets can be difficult. Finture Solutions bridges the funding gap and supports startups that drive growth as well as local impact in emerging markets. We hope that our Finture Solutions initiative will spark entrepreneurial appetite while working on the biggest challenge of this decade,’ said Janet Nieboer, Director NL Business at FMO.
After the first edition’s success of Finture Solutions, FMO decided to launch a second edition. This year, ‘Health’ is included as a focus theme. The Netherlands has one of the largest health ecosystems, yet only a small percentage of the health startups is active or seriously interested in emerging markets. Including health in the scope of Finture Solutions will give a boost to those startups contributing to affordable health care in emerging markets.
‘At Rockstart we believe in supporting innovators and startups addressing some of the sustainable development goals. As a company, we have our core focus in the domains within agriculture, health and energy and we are very happy to be working together again with FMO to find the most innovative disruptors in these domains that will really make a positive change to the world as we know it,’ said Rune Theil, CEO at Rockstart.