Sella Launches the First Italian Acceleration Program Dedicated to Startups Focused on Finance in the Metaverse
- 22.06.2022 02:15 pm
Metaverse 4 Finance Accelerator has started. Representing the first Italian acceleration program - fostered by the Sella group and implemented by dpixel, its Venture Incubator, in partnership with OGR Torino – it aims to identify and support the growth of national and international startups for the development of innovative, economically sustainable, inclusive and safe solutions and technologies within the financial applied Metaverse.
The metaverse is a multifaceted, ever-changing digital environment designed to make people's experiences on the web immersive. According to Grand View Research data, the metaverse is expected to reach a global market value of $678.8 billion in 2030 with a compound annual growth rate (CAGR) of 39.4%. Based on a combination of high-tech factors such as infrastructure, interfaces, hybrid/virtual experiences and creator economy, the metaverse can enable new and unexplored market opportunities for the world of finance as well.
The acceleration program was born with the ultimate goal of bringing benefits to people during their approach and adoption of the metaverse, proposing solutions able to anticipate and guide the development of the same. Startups already represent a pillar in the construction of the new digital environment and even the smallest business projects can play a significant role in the growth of metaverse finance: startups are in fact core to this path and increase the speed of innovation of large companies. The Sella group supports the initiative to foster and enable finance in an increasing development scope such as the metaverse.
Metaverse 4 Finance Accelerator aims at domestic and international startups able to forge disruptive innovations on the market through technologies applied to metaverse finance. Startup requirements involve a defined core team, a clear value proposition, a prototype ready for market launch within 6-10 months, and a TRL (Technology Readiness Level) greater than or equal to 6.
Phases and Funds
The initiative will run for a period of 6 months involving 4 phases: a first phase of Scouting & Selection entailing the evaluation and selection of the most suitable startups, followed by the second step of Business Acceleration to support the business plan and identify the 10 best startups. The technical validation phase of the products and solutions will then come next for the 5 finalist startups (which will receive a funding of 100,000 euros each) before moving on to "matchmaking", exploring the opportunity of integrating the developed innovations within the processes of companies operating in the industry.
"In this unique period combining evolution, discontinuity and transition to Web3, it is even more essential the continuous support to an open and innovative ecosystem to give impetus to ideas and solutions useful to citizens and businesses, wherever they act, be it the physical world or the metaverse. Through this Metaverse 4 Finance initiative, the Group takes a further step forward to increase the country's ability to innovate and thus drive its growth and development, involving exclusive partners and calling together national and international startups, representing a vital resource to invest on for the economic and social progress" comments Stefano Azzalin, CEO at dpixel.
"Among the many interconnected phenomena that reshape the social and economic dynamics of the present, the metaverse represents a particularly challenging frontier full of opportunities. Further to the unexplored potential of a true "new reality" where to move and relate, there is the dimension of a megatrend currently in full swing that will have far-reaching repercussions on all sectors of our life, from socializing to gaming, from marketing to finance. For this reason, the commitment of institutions, bodies and companies capable of charting a direction in the name of inclusiveness, safety and sustainability through the support and sharing of skills and experience is a must. This is the goal with which OGR Torino wants to be alongside dpixel for the launch of Metaverse 4 Finance Accelerator, with the awareness of being able to support the development of a strategic and disruptive vision for the future universe of the internet and, therefore, of society", says Massimo Lapucci, CEO of OGR Torino.
dpixel, Venture Incubator of the Sella group operating for over 10 years in the European market and with over €36 million of yielded investments, is the Accelerator Partner of the initiative, with the task of managing all the design, implementation and investment aspects of the same. The selected startups will benefit from more than 16 weeks of support from dpixel’s mentors and access to an exclusive network of partners.
OGR Torino is an international hub of 35,000 square meters in the heart of Turin, a unique experimentation centre in Europe, dedicated to contemporary culture, innovation and business acceleration. As an Innovation & Networking partner, it will make available to startups selected for the Metaverse 4 Finance Accelerator program its network of financial, corporate and applied research centres, a business community of international standing, tools and services, and support in intercepting funding opportunities (direct and structural European funds), advice through a legal and tax assistance desk. In addition, OGR Torino will actively take part in the project enhancement to extend its impact on the territory and synergy with other active projects at OGR Tech.