Fondo Italia Space Venture: news for innovative companies

Agreement signed between the Department for Digital Transformation and CDP Venture Capital. A convention that defines how the Italy Space Venture Fund. The agreement provides for the allocation of resources for the management of the Italia Space Venture Fund to CDP Venture Capital. An asset manager owned 70% by CDP Equity and 30% by Invitalia.

This is a donation of 90 million euros from the supplementary Fund to the National Plan for Recovery and Resilience. This amount will be added to the additional 90 million provided by CDP Venture Capital along with other private investments. The amount will eventually amount to 250 million that Italia Space Venture will invest in new business projects in the space and aerospace sector. An example is the acceleration and technology transfer activities.

The Fund will provide specific financial support to sector companies to overcome the delay in the availability of venture capital funds. Furthermore, it will give substance to the Italian strategy in the space sector aimed at strengthening and increasing the “downstream” and “upstream” apps and the use of space data. A way to offer new services to citizens and businesses and to economic growth.

Italy Space Venture aims to be a tool for: innovative aerospace companies. Some examples are university spin-offs, startups, private space-type venture capital funds. The Fund is an instrument for assessing technological strength. The agreement provides for the specialist contribution of experts made available by the Italian Space Agency and the European Space Agency in support of CDP Venture Capital.