CDP Venture Capital has recently unveiled the Frontech Accelerator as part of its National Accelerator Network, with technical support from Algorand and Microsoft. The Algorand Foundation has expressed pride in its role as a key technical partner in this new venture.
Backed by CDP’s Accelerator Fund, along with co-investors GELLIFY and Cariplo Factory, the Frontech Accelerator has a substantial endowment exceeding €7 million. The program focuses on nurturing “frontier” technologies that fuel digital transformation in various sectors such as digital identity, intellectual property authentication, generative AI models, gaming, AR/VR, digital art, and more.
The goal of the Frontech Accelerator is to select ten startups annually for three years, providing each with an initial investment of €120,000. These startups will undergo a rigorous six-month program to refine their business proposals, with interactive sessions in crucial areas like Vertical technology, Product development & service design, Business development, and Fundraising.
Alongside Microsoft, the Algorand Foundation is thrilled to be a technical partner of the Frontech Accelerator. The program, initiated by CDP Venture Capital, focuses on frontier technologies like AI, Web3, and Metaverse that are reshaping various industries.
Algorand will offer mentorship and guidance to the selected startups throughout the program, which will be based in Sardinia with a reference base in Cagliari. While open to both Italian and international startups, applicants must plan to establish a registered office in Italy. The application window is currently open and will close on May 19th.
The Frontech Accelerator is a vital part of CDP Venture Capital’s National Accelerator Network, which aims to expand its presence across Italy. With 19 hubs operating throughout the country, the network concentrates on sectors with significant growth potential to bolster skills and entrepreneurship in innovation.
Agostino Scornajenchi, CEO and General Director of CDP Venture Capital, emphasized the transformative potential of AI and generative AI, highlighting their impact on future markets. The program aligns with crucial “frontier” technologies for digital transformation and emphasizes Italy’s role in fostering innovation and supporting talents in the tech industry.
The launch of the Frontech Accelerator marks a significant milestone in Italy’s journey towards becoming a leading hub for technological advancement and entrepreneurship in Europe. Supported by strong technical partners and substantial investment, this initiative underlines Italy’s commitment to fostering innovation and growth in groundbreaking technologies.