The National Innovation Fund launches Seed for the South

The National Innovation Fund launches Seed for the South
CDP Venture Capital SGR, the National Innovation Fund, has confirmed investments for 5.7 million euros, as part of the Seed for the South program, dedicated to supporting young innovative companies in the South.

Investments they are intended for 30 startups in the seed and pre-seed phase, selected from the 67 companies examined, in partnership with 18 accredited accelerators in Southern Italy. The agreements are managed by the Italia Ventures II Fund, which with this operation expands its ceiling from 6 to 8 million euros for future investments.

Out of 30 approved interventions, 23 have been signed and the next 7 are closing in the first weeks of September. 14 startups are resident in Campania, 8 in Puglia, 4 in Calabria, 3 in Sicily and 1 in Sardinia. Six of these are co-invested by the Acceleratori Fund.

The investment generated an attractive effect of other private capital for 4.3 million euros, bringing the total placement to 10 million euros.

"The Seed for the South program, which finances young entrepreneurial ideas and catalyses new investments in Southern Italy, is a priority for the Innovation Fund and for the post-Covid-19 economic revitalization of the production ecosystem of the South" commented Francesca Bria , President of CDP Venture Capital Sgr, National Innovation Fund.

"Enhancing startups and high-potential innovative companies means strengthening economic development, the entrepreneurial fabric, the territorial cohesion of the country, as well as enhancing the role accelerators to attract future investments. Seed for the South is a concrete action that bets on the talent and human capital of young people and women, activating as yet unexpressed potential for innovation and creating new opportunities for qualified work, with the aim of making the South a true laboratory of innovation. sustainable".

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