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.
f you want to find more details about Argo and read the latest business news of the day, download for free our companion app Born2Invest, available for free for both Android and iOS devices.
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.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in StartupItalia, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
ClubDealOnline: Net Income in Q1, Higher Than in the Whole of 2022
For the future, in addition to continuing to support cutting-edge startups on their growth path, the platform ClubDealOnline is increasingly...
Banco W and Belvo Revealed New Alliance for Financial Inclusion
This new strategic alliance, between Banco W and Belvo, announced within the framework of the LATAM Fintech Market, seeks to...
Update of Market Trends and an Outlook on the S&P 500, Gold, and Bonds
It is difficult finding the positives as the world appears to be fraying. Stock markets, precious metals all week. But...
Using Dow Jones Daily Volatility to Time Entry and Exit Points
Since 25 May 1926, the Dow Jones on 08 Dec 2022 increased to 33,791. Note how by using Dow Jones...
The TopRanked.io Weekly Digest: What’s Hot in Affiliate Marketing [Esperio Partners Review]
This week, we're here to tell you why affiliate marketing is the meaning of life. And no, that's not a...
Biotech7 days ago
PharmaMar Increases Investment in R&D for Oncology by 23%
Cannabis2 weeks ago
CSC Bolzano – the Most Demanding CSC in the German-Speaking Area
Impact Investing5 days ago
Audax, a Low-Risk ESG Company According to Morningstar Sustainalytics ESG Rating
Fintech2 weeks ago
Latin American Fintech Companies that Raised the Most Capital This Year