Motor Valley Accelerator
Motor Valley Accelerator
Launched in July 2021 and based in Modena, the Motor Valley Accelerator is the first project of CDP Venture Capital’s Accelerators Fund. It is co-managed by CRIT and Plug and Play Tech Center and has received €20 million in funding from CDP Venture Capital, Fondazione di Modena, UniCredit, and Plug and Play. The accelerator also benefits from the support of major Italian companies capable of further backing startups, such as Agrati, Dallara, Ferrari, Gruppo Hera, OMR, Sabelt, STMicroelectronics, and UnipolSai.
The Motor Valley Accelerator is designed to support the growth of early-stage startups (pre-seed and seed), promoting innovation in the mobility and automotive sector at a national level. It offers startups an ideal environment to grow and develop. The acceleration program provides financial support, mentorship, product development workshops, growth strategy sessions, networking opportunities and access to office facilities located in Modena, the heart of the Motor Valley.
In its first three years, the accelerator program has supported 24 startups and distributed a total of €5 million, facilitating the development and market entry of the selected companies. This has attracted an additional €7.5 million from other investors. Of these startups, 11 were founded thanks to the accelerator’s funding, and together, all 24 startups currently employ around 115 people. Over the course of these three years, 30 Proof of Concept (PoC) projects have been developed.
The selected startups received pre-seed investments of approximately €100,000, along with training through more than 20 workshops delivered by a network of high-level mentors. Some startups, at the end of the five-month acceleration program, received additional follow-on investments of up to €500,000.
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