Economy

Google helps open new home for startups in Berlin

BERLIN (AP) — Internet entrepreneurs have received a new home in the German capital with the opening of the "Factory" — a workspace developed in partnership with Google Inc. that allows startups to innovate and collaborate under one roof.

"Factory" founder Simon Schaefer said Wednesday's opening of the 16,0000-square-meter (172,224-sq.-foot) building was helped with a 1 million euro ($1.4 million) investment from Google. He said new businesses will benefit "from the internationalism of our partners and will get attention from investors and potential customers from around the world."

Google's Executive Chairman Eric Schmidt was on hand for the opening of the workspace, in a former brewery, which is designed for some 500 people. The first occupants will also include established firms like Twitter, Soundcloud and Mozilla.

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