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Swedish firms miss out on EU millions

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11:50 CEST+02:00
The European Union has decided to dish out 420 million kronor to digital content providers in 2007, with the objective of increasing European content on the internet.

But according to Realtid, Swedish IT companies are notable by their absence from the applications.

Two years ago there were 59 applications from Swedish organisations. In 2006 the number had fallen to 36, meaning that Swedish firms accounted for just two percent of all funding applications.

EU coordinator Federico Milani told Realtid that the lack of interest from Sweden is due to companies' belief that it is hard to get the money and not worth the effort of submitting an application.

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