Wander through the excellent Science Museum in London, and you’ll see inventions that transformed history. Like Puffing Billy, one of the world’s first steam locomotives; or Charles Babbage’s difference engine, a Victorian predecessor to the modern computer; or penicillin, the wonder drug that revolutionized the treatment of disease. These marvels from the past still influence our lives today, and are tangible examples of how fearless exploration and entrepreneurship can literally change the world.
To help support the next generation of European entrepreneurs, today Google Ventures is launching a new venture fund, with initial funding of $ 100 million. Our goal is simple: we want to invest in the best ideas from the best European entrepreneurs, and help them bring those ideas to life.
When we launched Google Ventures in 2009, we set out to be a very different type of venture fund. Startups need more than just capital to succeed: they also benefit from engineering support, design expertise, and guidance with recruiting, marketing and product management. Five years later, we’re working with more than 250 portfolio companies, tackling challenges across a host of industries. For example, the team at Flatiron Health is improving the way doctors and patients approach cancer care, SynapDx is developing a blood test for the early detection of Autism in children, and Clean Power Finance is making solar energy affordable for homeowners.
We believe Europe’s startup scene has enormous potential. We’ve seen compelling new companies emerge from places like London, Paris, Berlin, the Nordic region and beyond—SoundCloud, Spotify, Supercell and many others.
We can’t predict the kinds of inventions the Science Museum might showcase 10+ years from now, but we do know European startups will be essential to this future, and we can’t wait to see what they create.