News Net Nebraska

Complete News World

Space, the Italia Space Venture Fund was created for innovative companies and specialized funds

Space, the Italia Space Venture Fund was created for innovative companies and specialized funds

The agreement was signed today, in the presence of the Minister of Technological Innovation and Digital Mobility in charge of Space and Aviation Policies, Vittorio Colao, Head of Digital Transformation, Mauro Menina, and CEO and General Manager of CDP Venture Capital, Enrico Resmini, the agreement outlining the modalities of intervention for the “Italia Space Venture” fund .

The agreement provides for the allocation of resources to create and manage the “Italia Space Venture” fund to CDP Venture Capital, which is 70% SGR owned by CDP Equity and 30% by Invitalia. With an endowment of €90 million, coming from the Supplementary Fund to the National Recovery and Resilience Plan, which will be added to the further 90 million provided by CDP Venture Capital, to which other private co-investments will be added with an estimated leverage effect totaling 250 million, the Fund will invest Italia Space Venture is engaged in innovative commercial projects in the aerospace and aviation sectors such as, for example, acceleration and technology transfer activities.

Thus, the fund will provide specialized financial support to companies in this sector, to compensate for the delay in the availability of specialized venture capital funds and to give substance to the Italian strategy on space aimed at multiplying and strengthening “downstream” and “upstream” applications and “the use of space data to provide new services to citizens” companies, stimulating entrepreneurship and the growth of the space economy.

With PNRR resources, the Italia Space Venture Fund aims to be a supportive vehicle for innovative entrepreneurship initiatives in the aerospace sector, such as university spin-offs, start-ups and growth stage companies, but also private venture capital funds dedicated to the space.

See also  What's at the edge of the universe? The answer that leaves you speechless

To assess the technological potential of the identified initiatives, the agreement also provides for the specialized contribution of experts provided by the Italian Space Agency (ASI) and the European Space Agency (ESA) in support of CDP Venture Capital.