Invest-NL is allocating €100 million for the Temporary Bridging Loan Program Innovative Startups and Scaleups (TOPSS). This program was set up in recent weeks in close cooperation with Techleap.nl and the Regional Development Companies (ROMs).
Temporary Bridging Loan Program Innovative Startups and Scaleups (TOPSS).
With the €100 million for TOPSS, Invest-NL aims to ensure the availability of venture capital for innovative start-ups & scaleups with healthy prospects affected by Covid-19 crisis. Funding from TOPSS is aimed at continuing operations while anticipating a longer period when fundraising will be difficult.
TOPSS offers funding from €2 million upwards with the involvement of professional investors. Invest-NL in principle finances max. 50% of the funding round. Funding is provided in the form of a convertible loan. Invest-NL specifically uses an accelerated investment process of 3-5 weeks for TOPSS applications. Proposals with social impact are given priority (FTE, CO2, R&D).
Applications can be submitted from April 29, 9 a.m. through the joint counter set up with Techleap.co.uk and the ROMSs .
Supplementing €100 million from the cabinet
TOPSS' €100 million is in addition to the €100 million the Cabinet made available on April 7 for bridging loans to startups, scaleups and innovative SMEs. These loans, called Corona-Overbruggeningslening (COL), range between €50,000 and €2 million. The COL is implemented through the ROMs.