Up to 50 start-ups to be supported over 3 years, with initial funding of 1.65 million euros
Supporting the development of one of Italy's largest innovation ecosystems linked to the technological and digital transformation: the insurance and financial sector.
This is the idea behind the new Start-up Accelerator that will be launched today in Milan. It will support the most promising international companies and organisations looking to develop their business in our country, in a market that exceeds 137 billion euros a year globally, of which over 58 billion is in Europe and 373 million is in Italy alone.
The new Accelerator was created through the joint efforts of CDP Venture Capital Sgr - Fondo Nazionale Innovazione, Digital Magics, Startupbootcamp and Fintech District. It will support up to 50 start-ups in three years, with an initial budget of 1.65 million euros, fully underwritten by CDP Venture Capital Sgr, who have already given the go-ahead for a further 2 million euros to be provided to support the operation later.
The selected start-ups will receive initial funding and benefit from a 13-week acceleration process supported by corporate mentors and investors. At the end of this process, the best ones will be further rewarded with investment tickets of up to 200,000 euros.
The launch is part of the Fondo Nazionale Innovazione's overall strategy to create a network of 20 accelerators in Italy based in highly specialised technological zones. This has already seen the creation of the Motor Valley Accelerator, a programme dedicated to the automotive sector, based in Modena, and WeSportUp, an accelerator dedicated to sport and health, both of which will open their selection processes in early 2021.