A new fund worth 1 billion, launched by Cdp Venture Capital, is underway to discover and create 'the Italian way to artificial intelligence,' as stated by Prime Minister Giorgia Meloni during the conference 'Artificial Intelligence for Italy'.
Article written by Nicolò Joswig.
It seems that the long-awaited Cdp Venture Capital fund for artificial intelligence, amounting to an incredible 1 billion euros, has finally arrived, with which Italy aims to compete for European leadership in the field of AI.
Although the specific details of the Cdp Venture Capital fund will only be revealed during the presentation of its industrial plan scheduled for April, Prime Minister Giorgia Meloni discussed it today at the conference 'Artificial Intelligence for Italy.'
'We are convinced that there can and should be an Italian way to artificial intelligence, an Italian way to the development of artificial intelligence, an Italian way to the governance of artificial intelligence,' declared the Prime Minister in her speech, emphasizing the importance of research and experimentation in building a new great Italian 'champion' in the field of artificial intelligence.
A fund that, as explained by Agostino Scornajenchi, CEO of Cdp Venture Capital, will work both to 'enhance Italian research and university excellence and turn them into businesses' and to invest in the growth of early-stage companies so that they can consolidate and perhaps become the next 'national champion for the Italian large model.'
An ambitious plan that, according to Scornajenchi, 'will have an attraction effect on the market of an additional 2 billion' and responds decisively to what the French neighbors did in recent months.
In June 2023, France launched the 'AI Booster 2030' program to support French AI startups, worth 25 million euros, followed in early 2024 by French President Emmanuel Macron's announcement of a series of investments in the artificial intelligence sector, including, through the Tibi2 fund, an amount of approximately 7 billion euros from institutional investors reserved for French innovative tech startups and companies.
An unprecedented opportunity for Italian tech companies and startups, in a sector that is increasingly impacting the entire global economic system.
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