ABN Amro joins Google X Hub as founding partner

ABN Amro joins Google X Hub as founding partner

ABN Amro is the founding partner of a new technology hub for startups in central Amsterdam set up by Google and tech mag The Next Web.

The hub - called 'X' - will have 500 workstations and will offer space to a community of 120 rapidly growing technology start-ups.

The building has a floor area of 6,000 m2 and comprises rooms for collaborative working, private offices, innovative laboratories, catering facilities and an events space covering more than 1000 m2. It will open its doors in the spring of 2016.

X draws some of its inspiration from the Google Campus in London and will be part of a global network of tech hubs, known as Google for Entrepreneurs. The search engine giant already supports 25 technology hubs worldwide as well as managing five campuses.

ABN Amro will have a number of dedicated workstations and its own meeting room in the X building. Among other things, ABN Amro will stage its Open Office Hours programme in X, in which the bank and its network are linked to start-ups.

"As a founding partner, ABN Amro wants to make a contribution to the X community," says the Dutch bank's chief digital officer Frank Verkerk. "We will help start-ups and scale-ups grow through our expertise, experience and network. These innovative businesses can in turn provide us with an insight into the scope for investments in fintech products and services.”

In October, ABN Amro established a EUR10 million Digital Impact Fund to invest in fintech startups which have already launched a product and are currently in the growth phase. The main criterion for investment is that the start-up develops products and technologies that the bank can, in turn, leverage for its customers.

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