Cdp Venture launches accelerator for infrastructure start-ups in Catania

It is called CrossConnect and is the new Cdp Venture Capital accelerator inaugurated in Catania. An accelerator with a specific feature: it is dedicated to start-ups developing solutions or services for physical and digital infrastructure. The initiative is part of the National Accelerator Network of Cdp Venture Capital, the network dedicated to the development of start-ups specialising in markets with the greatest growth potential, which now has 20 vertical programmes operating throughout Italy.

"Infrastructures represent the connective tissue of a country: from essential services for citizens such as water, energy, transport and communications, through networks essential to the development of economy and industry such as logistics and distribution centres to venture capital, which is nothing more than a bridge of resources from investors to new entrepreneurs," says Agostino Scornajenchi, CEO and general manager of Cdp Venture Capital. With the launch of CrossConnect in Catania, we intend to provide capital, expertise, and our network to help accelerate the growth of new digitally-driven companies capable of transforming the strategic infrastructures of the future".

The basis is a three-year programme supported by investments totalling more than EUR 6 million, of which EUR 5 million has been earmarked by Cdp's Accelerators Fund: the remainder is invested by Plug and Play Tech Center and Elis, which will also handle the operational management of the programme. Also participating as corporate partners are Eni, through Joule, its business school, Saipem, a global leader in the engineering and construction of major projects in the energy and offshore and onshore infrastructure sectors, Buzzi and Sonatrach Raffineria Italiana. For each of the years, the partners will select up to 8 start-ups that will have access to an initial investment ticket of EUR 150,000 and a 4-month acceleration path. The best teams selected by the accelerator will also have the opportunity to obtain subsequent post-acceleration investments of up to EUR 400 thousand to strengthen their solution.

"We want to bring Silicon Valley's innovative approach to Catania, facilitating strategic connections between start-ups and large companies, and accelerating innovation in key sectors for the country's development and for a digital and sustainable transition," explains Tommaso Maschera, Director of Plug and Play Italy. CrossConnect will be based in a coworking space just a few steps away from the Sant'Agata cathedral: the space will offer a meeting point for the start-ups, companies, and businesses in the area that will be involved, fostering collaboration and growth within a stimulating ecosystem.

The call to take part in the 1st batch of CrossConnect is open until 5 December at www.crossconnect.it Italian and international start-ups wishing to set up an office in Italy can apply. "Participation in CrossConnect," says Mattia Voltaggio, Head of Joule, "is a valuable opportunity for Eni to develop technological solutions in the circular, bio and decarbonised renewable energy fields, and to accelerate possible synergies with the Versalis sites in Sicily, starting with the Ragusa site, for which a transformation and relaunch plan has been defined.