The Slovak government has announced it would spend 225 million euros on projects for Small and Medium Entreprises (SMEs) with the hope of creating 1200 new jobs by 2015. Each of the projects to be funded has to commit to creating at least one job for a young person.
The governmental initiative is aimed at alleviating the lack of private capital available to companies in the country. With no VC investments made in the country during the last year, Slovakia was last among the 25 EU countries according to the 2012 yearbook of the European Private Equity and Venture Capital Association.
Read an article on the announcement in Slovak here.