Rome, 19 November 2024 - CDP Venture Capital launches CrossConnect, the new Acceleration programme dedicated entirely to new companies developing infrastructure solutions or services. The initiative is part of the CDP Venture Capital National Accelerators Network dedicated to the development of start-ups specialised in markets with the greatest growth potential, today counting 20 vertical programmes throughout the country.

CrossConnect was established with a total endowment of over 6 million euro, five of which were allocated from the CDP Venture Capital Accelerator Fund, intended for initial investment tickets and subsequent post-acceleration follow-on for the companies that stand out as the most deserving.  Plug and Play Tech Center and ELIS are co-investors, and will also handle the programme’s operational management.

Also joining as Corporate Partners are Eni, through Joule, its business school, Saipem, a global leader in engineering and construction of major projects in the energy and offshore and onshore infrastructure sectors, Buzzi and Sonatrach Raffineria Italiana.

CrossConnect encompasses all market segments that enable the construction of infrastructure and major works to meet community needs in an efficient, sustainable manner. The main areas of interest include digital technologies applied to the management and monitoring of infrastructure (including AI for predictive maintenance, digital twins, drones), innovative solutions for transport and civil infrastructure (roads, ports, rail networks, airports), as well as infrastructure useful for energy production, transmission and storage, with a focus on renewable sources.  Areas of research also include advanced technologies for the efficient production and management of water, as well as Green Tech and circular solutions for green hydrogen production, chemistry, biorefining and CO2 capture. These are just a few of the areas of interest of the accelerator, whose scope will be expanded according to the needs of the business partners, with the addition of other domains such as telecommunication and digital infrastructure.

The accelerator will run for three years, for each of which the partners will select up to eight startups that will have access to an initial investment ticket of 150,000 euro and an acceleration path lasting four months. The best teams selected by the accelerator will also have the opportunity to receive subsequent post-acceleration investments of up to 400,000 euro to further strengthen their solution.

"Infrastructure is the connective tissue of a country: from essential services for the public such as water, energy, transport and communications, to networks essential to the development of the economy and industry such as logistics and distribution centres, not to mention venture capital, which is nothing more than a bridge of resources from investors to new entrepreneurship", explained Agostino Scornajenchi, Chief Executive Officer and General Director 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 infrastructure of the future”.

 

"CrossConnect is part of a process of digitisation of infrastructure in our country, with the ambition of creating a national hub for Italian and Mediterranean infra-tech. We want to bring Silicon Valley's innovative approach to Catania, facilitating strategic connections between startups and large companies, and accelerating innovation in key sectors for the country's development and for a digital and sustainable transition”, added Tommaso Maschera, Director of Plug and Play Italy.

 

"CrossConnect will be a true industrial accelerator, aiming to support and scale up the most promising entrepreneurial projects in the innovative infrastructure sector. Together with large companies we will develop testing and co-innovation projects aimed at facilitating their market access. Our role will focus on selecting and accompanying industrial projects through experimentation and application to real cases in the country”, noted Luciano De Propris, Head of Open Innovation at ELIS.

 

“Participation in CrossConnect”, concluded Mattia Voltaggio, Head of Joule, “is a valuable opportunity for Eni to develop technological solutions in the circularity, bio and renewable and decarbonised 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 drawn up”.

 

CrossConnect will be based in Catania, in a coworking space a few steps away from the cathedral of Sant'Agata. The space will provide a meeting point for the startups, companies and businesses in the area that will be involved, fostering collaboration and growth within a stimulating ecosystem.

The call to participate in CrossConnect’s first batch is open from today until 5 December at www.crossconnect.it. The programme is open to Italian startups and international ventures looking to open a branch in Italy.