III Edition of FAROS Acceleration Program – Italy

FAROS is created to enhance the potential of startups that propose solutions for a systematic transformation in the context of the sustainable blue economy.

By fostering relationships with a vast ecosystem of partners and industry professionals, FAROS contributes to the creation of a value chain that puts innovation and impact at the center of processes, governance and results.

The acceleration program aims to foster the development of a regenerative maritime economy, facilitating the sharing of know-how, technological skills and economic resources through the mobilization of stakeholders and capital.

Benefits

The selected startups will have access to:

• Acceleration path
  • Masterclasses, workshops, one to one coaching activities on: innovation and business development, scale-up strategy, financial planning and investor relations
• Open innovation
  • Consulting and support dedicated to some startups to design and implement pilot projects (PoC) aimed at technological validation and experimentation of new solutions with industrial partners
• Events
  • Access to national and international events, visits to partner offices and opportunities to meet stakeholders in the blue economy
• Investment up to €75,000
  • Initial investment in the form of a convertible with potential follow-ons between €200,000 and €400,000
• Mentoring
  • Individual sessions to support startups that can be modulated based on their needs. The mentor network (40+) is made up of: research institutes, corporate companies, networks and associations, universities and polytechnics, incubators and accelerators, innovation hubs
• Workspace
  • Available to startups for the entire duration of the program at the accelerator’s headquarters in Taranto and La Spezia, places of contamination and exchange between the main innovation players

The acceleration path will take place mainly in person at the Taranto and La Spezia Hubs, with possible online meetings between November 2024 and February 2025.

Given the international nature of the program and the Call, based on the origin of the selected startups, the teaching materials and lessons may be created and delivered in English

What they are looking for?

• FAROS is aimed at Italian and international startups that stand out in the field of the blue economy, port innovation and the responsible use of marine resources. They are looking for business models that generate positive, intentional and measurable impact and that offer innovative solutions aimed at restoring ocean health and promoting an effective transition to a sustainable blue economy.
• Through the two FAROS Hubs, the third Call for Startups aims in particular to accelerate companies that offer solutions in the following areas of innovation.
  • Ocean Data
  • Ocean Energy Systems
  • Sea Health & Restoration
  • Smart Ports & Green Shipping
  • Shipbuilding
  • Coastal Tourism & Cultural Activities
  • Sustainable Aquaculture
  • Disruptive Uses of Blue Resources

For more information, visit CDP Venture Capital.