ARP to invest into start-ups

The state-owned Industrial Development Agency (ARP) will spend PLN 80 million annually on investment into start-ups, Treasury Minister Włodzimierz Karpiński was quoted as saying by ISBnews. Poland should develop its innovation potential, Karpiński said, and the ARP will be a tool for that. In his opinion, PLN 80 million is a huge sum, “taking into account that young entrepreneurs often need just several dozens or several hundred thousand złoty to launch their business.” The ARP has just presented the framework of its strategy for 2014-2020. The main goal is to transform the agency from an entity aiding troubled firms to one initiating and supporting business processes.