# Government funds at pre-seed (2026 list) > 31 government funds at pre-seed, 100% active in the last 12 months. Led by National Science Foundation, Bpifrance, EIC Accelerator. Ranked by what they funded. Source: https://millionrounds.com/lists/government-funds-at-pre-seed (Millionrounds; every figure on the page links to its filing or article) [Investor Lists](https://millionrounds.com/lists) # Government funds at pre-seed Updated 7 November 2026 Government funds we have watched take part in a pre-seed round in the last two years. [See all 31 *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fgovernment-funds-at-pre-seed)The top 25 **31** investors on the list No change this week **896** cheques in 12 months *-27%* against the market **$2.1M** median round they joined *-74%* against the market median **100%** wrote a cheque in 12 months **35%** have led a round ## The Top 25 Ordered by cheques observed, never by anything anyone paid for Deploying now (25) - 1 [National Science Foundation](https://millionrounds.com/fund/nsf-small-business-innovation-research-small-business-techno) *Deploying now* Government · United States **1,869** **$926K** median round **Sept 2026** last seen - 2 [Bpifrance](https://millionrounds.com/fund/bpifrance) *Deploying now* Government · France **1,151** **$4.5M** median round **Oct 2026** last seen - 3 [EIC Accelerator](https://millionrounds.com/fund/eic-accelerator) *Deploying now* Government · European Union **875** **$4.3M** median round **Oct 2026** last seen - 4 [Korea Tech Incubator Program For Startup](https://millionrounds.com/fund/tips-program) *Deploying now* Government · South Korea **597** **$2.1M** median round **Sept 2026** last seen - 5 [US Department of Energy](https://millionrounds.com/fund/u-s-department-of-energy) *Deploying now* Government · United States **453** **$2M** median round **Sept 2026** last seen - 6 [Shenzhen Capital Group Co.](https://millionrounds.com/fund/shenzhen-capital-group) *Deploying now* Government · China **449** **$16M** median round **Oct 2026** last seen - 7 [Enterprise Ireland](https://millionrounds.com/fund/enterprise-ireland) *Deploying now* Government · Ireland **447** **$1.8M** median round **Nov 2026** last seen - 8 [Connecticut Innovations](https://millionrounds.com/fund/connecticut-innovations) *Deploying now* Government · United States **264** **$6M** median round **Oct 2026** last seen - 9 [Scottish Enterprise](https://millionrounds.com/fund/scottish-enterprise) *Deploying now* Government · United Kingdom **256** **$2.1M** median round **Nov 2026** last seen - 10 [Bayern Kapital](https://millionrounds.com/fund/bayern-kapital) *Deploying now* Government · Germany **173** **$7.1M** median round **Oct 2026** last seen - 11 [Innosuisse](https://millionrounds.com/fund/innosuisse) *Deploying now* Government · Switzerland **144** **$1.9M** median round **Aug 2026** last seen - 12 [Development Bank of Wales](https://millionrounds.com/fund/development-bank-of-wales) *Deploying now* Government · United Kingdom **123** **$1.3M** median round **Oct 2026** last seen - 13 [European Union](https://millionrounds.com/fund/european-union) *Deploying now* Government · United Kingdom **118** **$2.3M** median round **Sept 2026** last seen - 14 [Invest Nebraska](https://millionrounds.com/fund/invest-nebraska) *Deploying now* Government · United States **118** **$875K** median round **Sept 2026** last seen - 15 [Small Business Innovation Research](https://millionrounds.com/fund/small-business-innovation-research) *Deploying now* Government · United States **98** **$1M** median round **Sept 2026** last seen - 16 [IBB Ventures](https://millionrounds.com/fund/ibb-ventures) *Deploying now* Government · Germany **97** **$3.4M** median round **Nov 2026** last seen - 17 [UNIIQ](https://millionrounds.com/fund/uniiq-finance-for-the-future) *Deploying now* Government · Netherlands **61** **$408K** median round **May 2026** last seen - 18 [AQC Capital](https://millionrounds.com/fund/aqc-capital) *Deploying now* Government · Canada **58** **$2M** median round **Aug 2026** last seen - 19 [InnovationQuarter](https://millionrounds.com/fund/innovation-quarter) *Deploying now* Government · Netherlands **52** **$5.5M** median round **Jun 2026** last seen - 20 [Ukrainian Startup Fund](https://millionrounds.com/fund/ukrainian-startup-fund) *Deploying now* Government · Ukraine **51** **$156K** median round **Jul 2026** last seen - 21 [CORFO](https://millionrounds.com/fund/corfo) *Deploying now* Government · Chile **47** **$348K** median round **Apr 2026** last seen - 22 [Colorado Office of Economic Development and International Trade](https://millionrounds.com/fund/colorado-office-of-economic-development-and-international-tr) *Deploying now* Government · United States **47** **$250K** median round **May 2026** last seen - 23 [Innovation Norway](https://millionrounds.com/fund/innovation-norway) *Deploying now* Government · Norway **46** **$985K** median round **Jun 2026** last seen - 24 [UK government](https://millionrounds.com/fund/uk-government) *Deploying now* Government **42** **$2.4M** median round **Oct 2026** last seen - 25 [Netherlands Enterprise Agency](https://millionrounds.com/fund/netherlands-enterprise-agency) *Deploying now* Government · Netherlands **33** **$4.3M** median round **May 2026** last seen **6 more on this list** All 31 are in the app, with filters for stage, sector and market. A free account shows 10 per search, Pro up to 1,000. [See the whole list *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fgovernment-funds-at-pre-seed) ## The Newest Cheques Rounds this list's investors joined most recently - **5** Nov **[ArrayPatch](https://millionrounds.com/company/arraypatch)** Seed · $1.8M *With* [Enterprise Ireland](https://millionrounds.com/fund/enterprise-ireland) - **5** Nov **[Shinka](https://millionrounds.com/company/shinka)** Seed · $2.1M *With* [Enterprise Ireland](https://millionrounds.com/fund/enterprise-ireland) - **4** Nov **[Amara](https://millionrounds.com/company/amara)** Pre-seed · $4.2M *With* [IBB Ventures](https://millionrounds.com/fund/ibb-ventures) - **3** Nov **[1nhaler](https://millionrounds.com/company/1nhaler)** Other · $3M *With* [Scottish Enterprise](https://millionrounds.com/fund/scottish-enterprise) - **30** Oct **[SaxaVord Spaceport](https://millionrounds.com/company/saxavord-spaceport)** Other · $80M *Led by* [UK government](https://millionrounds.com/fund/uk-government) - **29** Oct **[Jingshuo](https://millionrounds.com/company/jingshuo)** Pre-seed *With* [HKSTP](https://millionrounds.com/fund/hkstp-ventures) ## Stages This Year 831 rounds - Venture **28%** - Seed **19%** - Grant **16%** - Series A **11%** - Series B **6%** - Other **19%** ## What They Backed Sectors, last 12 months - Biotech **131** - AI **130** - Healthcare **89** - Energy **62** - Chemicals & Materials **45** - Cleantech **44** ## Cheques by Quarter Led Joined 330 Q1 25 289 Q2 25 339 Q3 25 336 Q4 25 298 Q1 26 269 Q2 26 195 Q3 26 24 Q4 26 The last bar is the quarter still running. ## Lists Like This - [VC firms at early stage 6,133](https://millionrounds.com/lists/vc-firms-at-early-stage) - [VC firms at seed 3,708](https://millionrounds.com/lists/vc-firms-at-seed) - [VC firms at Series A 3,249](https://millionrounds.com/lists/vc-firms-at-series-a) - [VC firms at pre-seed 1,689](https://millionrounds.com/lists/vc-firms-at-pre-seed) - [VC firms at Series B 1,595](https://millionrounds.com/lists/vc-firms-at-series-b) - [VC firms at growth 1,005](https://millionrounds.com/lists/vc-firms-at-growth) - [VC firms at Series C 958](https://millionrounds.com/lists/vc-firms-at-series-c) - [PE firms at growth 772](https://millionrounds.com/lists/pe-firms-at-growth) - [PE firms at Series B 700](https://millionrounds.com/lists/pe-firms-at-series-b) [All investor lists *→*](https://millionrounds.com/lists) ## Reading for founders at idea or pre-seed - Thinking, Fast and Slow Daniel Kahneman · 2011 4.16 from 616,355 ratings on Goodreads Judgement and decisions Company building About the book In the highly anticipated Thinking, Fast and Slow, Kahneman takes us on a groundbreaking tour of the mind and explains the two systems that drive the way we think. System 1 is fast, intuitive, and emotional; System 2 is slower, more deliberative, and more logical. Kahneman… On AmazonListen on Audible - The Elements of User Experience: User-Centered Design for the Web Jesse James Garrett · 2002 4.01 from 4,134 ratings on Goodreads Finding product-market fit Company building About the book Smart organizations recognize that Web design is more than just creating clean code and sharp graphics. A site that really works fulfills your strategic objectives while meeting the needs of your users. Even the best content and the most sophisticated technology won't help you… On AmazonListen on Audible - Get Backed: Craft Your Story, Build the Perfect Pitch Deck, and Launch the Venture of Your Dreams Evan Baehr · 2015 4.36 from 356 ratings on Goodreads Raising money Company building About the book HOW DO YOU LAUNCH THE VENTURE OF YOUR DREAMS? Get Backed isn’t just about startup fundraising. It’s a handbook for anyone who has an idea and needs to build relationships to get it off the ground. Over the last 3 years, entrepreneurs Evan Loomis and Evan Baehr have… On AmazonListen on Audible - Venture Deals: Be Smarter Than Your Lawyer and Venture Capitalist [Brad Feld](https://millionrounds.com/person/brad-feld) · 2011 4.11 from 17,486 ratings on Goodreads Raising money Company building About the book Praise for Venture Deals"My biggest nightmare is taking advantage of an entrepreneur without even realizing it. It happens because VCs are experts in financings and most entrepreneurs are not. Brad and Jason are out to fix that problem with Venture Deals. This book is long… On AmazonListen on Audible[Author's Podcasts](https://millionrounds.com/person/brad-feld#podcasts) More books for founders and investors on the [Reading List](https://millionrounds.com/reading-list?role=founder&stage=idea). As an Amazon Associate we earn from qualifying purchases. ## Quick answers about government funds at pre-seed ### Who are the most active government funds at pre-seed? By cheques observed, the most active are National Science Foundation, Bpifrance, EIC Accelerator, Korea Tech Incubator Program For Startup and US Department of Energy. ### How many government funds at pre-seed are there? 31 are on record. 100% made an investment in the last 12 months and 35% have led a round. ### Which stages do government funds at pre-seed back? Of the rounds with a named stage in the last 12 months, mostly Seed (29%) and Grant (24%). ### How big are the rounds government funds at pre-seed join? The typical (median) round among the leading investors here is $2M. ### Which sectors do government funds at pre-seed back most? In the last 12 months, mostly Biotech, AI and Healthcare. ### Which government funds at pre-seed lead the most rounds? Bpifrance (11 led), EIC Accelerator (9 led) and Shenzhen Capital Group Co. (2 led). ### Where are government funds at pre-seed based? Among the most active, most are based in the United States (6), the United Kingdom (3) and the Netherlands (3). ### What have government funds at pre-seed invested in recently? Recent rounds include ArrayPatch (Seed, Nov 2026, with Enterprise Ireland), Shinka (Seed, Nov 2026, with Enterprise Ireland) and Amara (Pre-seed, Nov 2026, with IBB Ventures). Built from the rounds we watched, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections)