Italian Startup Accelerator TechPeaks Launches with $16.7 Million Fund

 
 
 

According to The Next Web, TechPeaks — a startup accelerator based in Trento, Italy — will be launching in partnership with government agency Trentino Sviluppo, aiming to develop the Trentino province as a “leading smart territory in the global arena of frontline innovation.” (Italian translation is a hoot, isn’t it?)

With 13 million euros — about $16.7 million — available to invest, the fund will be seeding at least 30 ICT business projects in the near future, with international accelerator partnerships including Seedcamp, Founder Institute, Mind The Bridge and iCatapult.

Both individuals and teams can apply, and selected participants will receive 6 months of free food, housing and office space in Trentino, visa support, pocket money, access to 40 mentors world-wide, and the chance to pitch for a 25,000 euro, non-equity grant. Alumni of the program will receive up to 200,000 euros in matching funds when they attract additional investors. Applications for the first class, lasting from May 30 to November 30, are open until April 5.

So this sounds more plausible then “Silicon Savannah” in Kenya, I’ll give them that. How about we coin the region’s nickname now…”Techworld Trentino?” Eh…send in your suggestions in the comments section. And check out the accelerator pitch in the video below.

http://www.youtube.com/watch?v=ifrh4E4TSpI&feature=player_embedded