Argo, the Call to Join Travel Tech Accelerator in Venice Starts

Argo will select about ten startups each year for the next three years. Startups will receive a pre-seed investment of about €75,000 and be eligible for subsequent post-acceleration funding.

The focus of Argo, the new accelerator announced by CDP Venture Capital, is travel tech, and managing it are LVenture Group, which co-invests in the initiative, and VeniSIA. With a total endowment of €4.5 million, it will identify the most promising Italian and international travel tech startups that intend to open an operational office in the local market.

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The call for the selection of startups for the first accelerator program, starting in March 2023, is open until February 19th, 2023

The location has been identified in Venice, in the spaces of VeniSIA.

“The agreement with CDP Venture Capital, the first initiative of implementation of the Ministry’s Innovation Network, goes in the direction of stimulating new innovative entrepreneurship in tourism to bring it to the level of the best European countries, accelerating the development of new solutions, technologies, business models proposed by startups, facilitating technology transfer processes from universities and research institutes,” commented Tourism Minister Daniela Santanchè. Her ministry may also support the selected startups with a possible grant of €25,000.

Which startups does the Argo Accelerator aim to attract to Venice?

The initiative is aimed at realities with an established team and a working prototype, which have developed innovative products or services in the field of tourism. For selection purposes, those enabling technologies such as CRM and Data Intelligence software, web and mobile apps, and digital commerce systems will be evaluated with particular interest.

Francesca Bria, President of CDP Venture Capital, added, “With the launch of the Argo Accelerator, we want to support the growth of the best startups that develop innovative services and solutions in travel tech and hospitality. In our country, tourism is worth 13 percent of GDP, and accelerating sustainable and digital innovation in this sector has the potential for high economic and employment impact throughout the country.” The initiative is part of the CDP National Accelerator Network, the network dedicated to the development of startups specializing in markets with the greatest growth potential that now has 16 vertical programs operating throughout the country.

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(Featured image by blende12 via Pixabay)

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