CDP Venture Capital has recently unveiled the Frontech Accelerator, which is part of its National Accelerator Network and has received technical support from Algorand and Microsoft. The Algorand Foundation is proud to be a technical partner in this new venture.
The Frontech Accelerator, supported by CDP’s Accelerator Fund and co-investors GELLIFY and Cariplo Factory, has an impressive endowment of over €7 million. Its main focus is on nurturing “frontier” technologies that drive digital transformation in sectors such as digital identity, intellectual property authentication, generative AI models, gaming, AR/VR, digital art, and more.
Over the course of three years, the Frontech Accelerator aims to select ten startups annually and provide each with an initial investment of €120,000. These startups will undergo a rigorous six-month program aimed at refining their business proposals. The program includes interactive sessions in four key areas: vertical technology, product development & service design, business development, and fundraising.
As a technical partner, Algorand will offer mentorship and guidance to the selected startups throughout the program. The Frontech Accelerator will be based in Sardinia, with a reference base in Cagliari. While the program is open to both Italian and international startups, applicants must plan to establish a registered office in Italy. The window for applications is now open and will close on May 19th.
The Frontech Accelerator is an integral part of CDP Venture Capital’s National Accelerator Network, which aims to establish a presence throughout Italy. With 19 hubs operating across the country, the network focuses on sectors with significant growth potential to support skills and entrepreneurship in innovation.
Agostino Scornajenchi, CEO and General Director of CDP Venture Capital, emphasized the transformative potential of AI and generative AI, stating that they represent major technologies that can transform entire markets. Frontech’s intervention areas align with these “frontier” technologies crucial for digital transformation, including digital identity, blockchain, intellectual property authentication, generative AI models, gaming, AR/VR, digital art, and new publishing.
Scornajenchi also highlighted the importance of Italy playing a decisive role in this technological advancement and supporting its talents. The launch of the Frontech Accelerator signifies a significant step towards fostering innovation and supporting groundbreaking technologies in Italy. This initiative showcases Italy’s dedication to becoming a leading hub for technological advancement and entrepreneurship in Europe.
