Sella launches the Italian Acceleration Program dedicated to startups focused on finance in the Metaverse
By Joy Dumasia
- Digital Transformation
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 Torinoit 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.
The initiative will run for 6 months involving 4 phases: the 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.
IBS Intelligence recently reported that Supporting Italian SMEs in their international business projects of growth, development and competitiveness, taking advantage of the great opportunities offered by digital export: this is the purpose of the agreement signed by Banca Sella and Business Vision.