Hermann Hauser plans VC for Euro hi-tech start-ups

UK computing guru Hermann Hauser is hoping to bridge the gap between the European and US approach to technology start-ups, according to a report in this morning's Wall Street Journal.

Acorn founder Hauser plans to replicate the venture capital model of funding new companies that is common in Silicon Valley but a rarity here where the relatively small number of VC firms that exist take a much more conservative approach. Also, UK technology firms frequently complain that even when they succeed in getting funding, so-called 'second round' funding to feed growth is often absent. Starting this autumn, Hauser aims to offer $50 million in initial capital for projects that catch his eye.

Separately, Hauser said his NetProducts company will launch an NC in the UK next month, priced at just £299.