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Internet giant Google is looking to actively fund “young companies with truly awesome potential”.

At a time when bank lending and venture funding for entrepreneurs is a mere trickle the world over, Mountainview, California-based Internet giant Google can be trusted to take the contrarian approach. It will actively fund “young companies with truly awesome potential”. According to Google Ventures’ managing partners Rich Milner and Bill Maris, the fund would focus on finding and helping develop “exceptional startups” in industries such as software, clean technology, biotechnology, healthcare and Internet. “Economically, times are tough, but great ideas come when they will,” says the company.

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