Google the online search giant has launched Google Ventures, a new venture capitalist fund. The fund reportedly will start with $100 million in financing. Google is looking to fund start-ups in industries including consumer Internet, software, hardware, clean-tech, bio-tech, health care and other areas we haven’t thought of yet.

Google Ventures will be headed up by Rich Miner and Bill Maris. Rich joined Google through the acquisition of Android, a mobile platforms company that he co-founded. “This is Google’s effort to take advantage of our resources to support innovation and encourage promising new technology companies. By borrowing the best practices of top-tier, financially focused venture capital firms and bringing to bear Google’s unique technical expertise and brand, we think we can find young companies with truly awesome potential and encourage their development into successful businesses,” said Rich and Bill

Google’s investment will depend on what stage your company is at. Anywhere from seed funding to millions.

“Economically, times are tough, but great ideas come when they will. If anything, we think the current downturn is an ideal time to invest in nascent companies that have the chance to be the “next big thing,” and we’ll be working hard to find them.” Said Rich and Bill

I find it amazing that a little over ten years ago Google got a $100,000 investment, and now it is offering $100 million to fund other startups. If you would like to be considered for funding email ventures@google.com. They are looking for no more than 20 slides or three type-written pages.

Good Luck.

Source [ Google Blog, Marketwatch]