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Up-and-coming companies can now do a Google search for startup money. 

You probably know that Google made its fortune going against the grain. It loves doing its own way and not conforming to the norms. So, we were not surprised when in March, amid the worst economic downturn in recent history, Google created a VC arm. 

Rich Miner and Bill Maris, manage Google Ventures. Rich Miner was in charge of developing Google’s Android OS, and Bill Maris was the founder of early web-hosting company Burlee.com.  Google Ventures now want to invest up to $100 million in their first year. 

Where will they invest?

Keeping in min their backgrounds, we expect to see the investment going to a heavy dose of software, hardware and internet startups, but Miner mentioned that they are also interested in investing in clean technology and health-care companies.

“Economically, times are tough, but great ideas come when they will,” wrote Miner on the company’s blog. “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.”

Where have they invested ?

Google Ventures has invested in two companies: Pixazza and Silver Spring Networks.

Pixazza is a Google AdSense-style technology that lets users shop via photographs. Silver Spring Networks is a smart-grid metering service. Both companies are based in Northern California, near Google HQ.

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