Google Cloud Platform announces start-up fund for under $500,000 tech companies

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The latest business to join the bandwagon of idea seekers through the venture capital fund route is Google’s Cloud Platform.

While launching the fund, Urs Holzle, senior vice president of technical infrastructure at Google said that the fund will concentrate on code as against managing infrastructure.

He was hopeful that this will help in bringing in more companies like Netflix, Pinterest and Instagram. It was also evident that there will be much focus on Google’s Cloud Platform.

Conditions for start-ups include that the company must be less than 5 years old and it must have annual revenues under $500,000. The funding is expected to be in the form of a credit not more than $100,000 and technical support from Google’s technical solutions team. It is apparent from the terms that the objectives are primarily in ensuring that developers get hooked to its technologies.

Meanwhile Salesforce Ventures of the CRM brand has come up with a much bigger announcement saying that it is allocating $100 million investment fund for developing mobile apps and related products that will use the Salesforce 1 platform for wearable gadgets. Salesforce has also invested much money into DocuSign and InsideSales.com, and others.