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Spanish minister wants venture capital to offset cuts

Spain’s government said it would encourage private funding of research to offset budget cuts, newspaper Publico reports.

Private investment in research, in particular venture capital, will help to “minimise the damage” caused by the €600-million budget cut announced last month, said Luis de Guindos, economy minister of the recently elected conservative government. He added that Spain would strive to get more money from the EU’s Framework Programme for research.

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