Faros, an accelerator dedicated to the blue economy sector, was launched in 2021 on the initiative of CDP Venture Capital in collaboration with the Port System Authority of the Ionian Sea – Port of Taranto, and is managed by a|cube, an accelerator for businesses with a social and environmental impact, and by the local manager Wylab, a certified incubator. The Faros initiative has also been extended to La Spezia, thanks to a partnership with the Port System Authority of the Eastern Ligurian Sea – Ports of La Spezia and Marina di Carrara.
The demo day for the latest cohort saw seven startups present their pitches at the Ionian Department of Mediterranean Legal and Economic Systems at the University of Bari Aldo Moro. The startups presented their pitches to an audience comprising investors, corporate representatives, industry partners and institutions, showcasing innovative solutions in the fields of environmental sustainability, the digitalisation of port processes and the monitoring of marine ecosystems.
- AI-Cure develops AI-based digital twins to optimise energy management in buildings and industrial plants;
- I-Tes is engaged in the design of thermal batteries based on phase-change materials to store and reuse heat efficiently;
- Samudra Oceans is developing a sensing and analytics platform for the real-time monitoring of ocean health and carbon;
- Seneca Biotech specialises in developing air treatment solutions for large indoor and outdoor spaces using essential oils;
- Blue Eco Line uses artificial intelligence to monitor and collect plastic from rivers;
- SkyCharge specialises in autonomous drone charging stations, designed for continuous monitoring and security missions;
- Y Digital is a benefit corporation that develops IoT solutions for the real-time monitoring of plants, processes and infrastructure.
All of them have completed a four-month intensive acceleration programme, developing market-ready technologies and business models, partly through direct engagement with companies and stakeholders within the ecosystem.
“The results presented demonstrate the quality of the progress made by the seven start-ups in the fourth edition of Faros,” says Stefano Molino, head of the Accelerator Fund at CDP Venture Capital, in a statement. “These companies are committed to developing innovative solutions for the sustainable management of natural resources, whilst also harnessing the potential of artificial intelligence. “With Faros, CDP Venture Capital reaffirms its commitment to supporting Italian innovation in the blue economy, accompanying the most promising projects on their path to growth and market success.”
Since its inception, Faros has built a leading ecosystem for innovation in the blue economy, with results that speak for themselves: over 3,150 start-ups analysed, 731 applications assessed, start-ups from 38 countries, 32 start-ups accelerated, 20 pilot projects, €5 million in direct investment, over €39 million raised by the start-ups, nearly 200 employees involved, and over €26 million in turnover generated.
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