CDP Venture Capital has 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 venture. The Frontech Accelerator has a generous endowment of over €7 million and is supported by CDP’s Accelerator Fund, GELLIFY, and Cariplo Factory. Its main focus is on nurturing “frontier” technologies that drive digital transformation in various sectors, including digital identity, intellectual property authentication, generative AI models, gaming, AR/VR, and digital art.
Over a period of three years, the Frontech Accelerator plans 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 covers four crucial 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 have the intention to establish a registered office in Italy. The application window is currently 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 have a presence throughout Italy. The network currently operates 19 hubs across the country, focusing on sectors with significant growth potential to support skills and entrepreneurship in innovation.
Agostino Scornajenchi, CEO and General Director of CDP Venture Capital, highlighted the transformative potential of AI and generative AI, stating that it represents one of the major technologies that will shape the future, comparable to the advent of the Internet and the cloud. He emphasized that Italy can and should play a decisive role in this field, supporting its talents and recovering competitiveness. The launch of the Frontech Accelerator is a significant step towards fostering innovation and supporting the growth of groundbreaking technologies in Italy, with the aim of becoming a leading hub for technological advancement and entrepreneurship in Europe.