What Is Frontech, the Acceleration Program of CDP Venture Capital

With an endowment of 7 million euros, CDP Venture Capital announced the launch of Frontech, an accelerator dedicated to the growth of startups that develop innovative digital solutions in the AI, web 3.0 and metaverse fields.

In recent days the National Innovation Fund presented the 2024-2028 Industrial Plan “Shaping Future.” Frontech represents the first piece of this new investment strategy. You have until May 19th to nominate your startup, with the selection open to Italian and international companies that intend to open a registered office in Italy.

The institutional partner is Fondazione Sardegna which, thanks to its innovation hub Innois, is growing the ecosystem on the island. The Frontech accelerator will be based in Sardinia, with a reference base in Cagliari in the spaces of Opificio Innova, inside the former Manifattura Tabacchi.

“The project confirms the commitment of the Sardinia Foundation in the field of innovation, both in terms of investments and potential impacts on the territory – declared Giacomo Spissu , President of the Sardinia Foundation. “The frontier technologies on which the Frontech Accelerator focuses will have an increasingly greater impact on people’s way of living and working and the skills and talents present in Sardinia will make their contribution to this new digital revolution.”

The Frontech accelerator will be based in Sardinia

SIOS Sardinia 2024, scheduled in Cagliari on May 23, will offer a new opportunity to meet the main protagonists, including founders, VCs and stakeholders. In Sardinia, Frontech will position itself as an integral part of the National Accelerator Network that CDP Venture Capital is developing by focusing on the sectors with the greatest growth potential and which today has 19 operational hubs.

“The AI ​​sector and in particular generative AI represents one of the major transformative technologies of the coming decades, comparable to the advent of the Internet and the cloud – commented Agostino Scornajenchi, CEO and General Manager of CDP Venture Capital. ” The impact will be able to transform entire markets through the development of new products and services enabled by the creation of “intelligent agents.”

Frontech: who manages the acceleration program

The total 7 million euros provided for Frontech will be directed towards initial investment tickets and subsequent post-acceleration follow-ons. Of these, 5.6 are allocated by the Accelerator Fund of CDP Venture Capital and the remaining part comes from the co-investors GELLIFY and Cariplo Factory , who will operationally manage the program.

“Frontier technologies are radically transforming our economic and social landscape, promoting a new era of transformation,” said Michele Giordani, Chief of Strategy, Client & Ecosystem at GELLIFY. «We are very proud – added Carlo Mango , Managing Director of Cariplo Factory – to contribute to this new accelerator of the CDP Venture Capital National Network dedicated to the so-called “frontier technologies” which more than any other innovation are impacting, in a transversal way, everyone the productive sectors”.

Frontech’s technological verticals

Frontech is looking for startups that operate within categories that represent the new frontiers of innovation. These are enabling technologies for digital transformation, with applications such as digital identity, blockchain, intellectual property authentication, generative AI models, gaming, AR/VR, digital art, new publishing.

Every year, for three years, ten startups in the seed and early stage phase will be selected and will have access to an initial investment ticket of 120 thousand euros and a six-month acceleration path. The program envisages a hybrid mode of use by accelerated startups.

The startups will focus on strengthening their business proposal through sessions focused on four key areas: vertical technology workshop, product development & service design, business development, fundraising, up to the implementation of a POC (proof-of-concept) with companies partner. Frontech also counts on the support of technical partners such as Algorand and Microsoft – through its AI LAB program – and corporate partners Bper, Banco di Sardegna and FPZ.

__

(Featured image by Depistotele via Pixabay)

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