In yet another boost to the Italian tech ecosystem and following the announcement of London’s Founders Factory and Fastweb launch of a venture studio and accelerator focussing on smart home, cybersecurity, healthcare, edutech, and industry 4.0 startups, the folks from The Big Smoke are back at it in Italy, now launching a fintech-focused programme in conjunction with one of Italy’s largest investment banks, Mediobanca.
Supported by a €12 million commitment from Mediobanca, the venture studio aims to foster the development of no less than 35 fintech companies with a particular emphasis on those employing blockchain and AI technologies.
On the initiative, Founders Factory CEO Henry Lane Fox commented, “Mediobanca is one of Italy’s leading financial institutions with reach extending throughout Europe. It makes them the ideal partner for Founders Factory as they recognise the importance of technology’s role in the future of financial services and the systemic change it can bring. Combining our venture building capabilities and fintech experience with Mediobanca’s heritage, financial prowess, and global ambition creates a powerful platform to back fintech founders.”
For context, late last year Tech.eu brought you TechChill's “What 21 investors have to say about investing in Italian startups” report, highlighting an abundance of innovation and accessible, highly-educated talent in Europe's 4th – and the world's 8th – largest economy.