Google's new venture capital arm is on lookout for clean and green tech startups.
The search giant has announced a new arm of its business, Google Ventures, to target early-stage firms including clean tech startups.
Google started Ventures to open its own resources to new technology development. It says it will seek out and help startup firms operating across a diverse range of industries. Google claims it will focus on "early-stage investments" with firms operating in consumer internet services, green and clean technology and others.
"This is Google's effort to take advantage of our resources to support innovation and encourage promising new technology companies," noted Rich Miner and Bill Maris, the managing partners at Google Ventures, in a blog post. "By borrowing the best practices of top-tier, financially focused venture capital firms and bringing to bear Google's unique technical expertise and brand, we think we can find young companies with truly awesome potential and encourage their development into successful businesses."
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