Motor Valley Accelerator Launches "Call For Startups 2024" Beginning The Search For New Innovative Technologies In The Automotive and Mobility Sectors

From May 6th, Italian or foreign startups wishing to develop their business in Italy can submit their application to access capital and expansion support.

For the 2024 edition, the Accelerator announces the entry of Gruppo Hera, one of Italy's largest multi-utilities, and Agrati, a leading company in automotive component manufacturing, as corporate partners.

MODENA, ITALY, May 6, 2024 – Motor Valley Accelerator, the program of the National Accelerators Network CDP Venture Capital dedicated to startups developing solutions for the automotive and mobility sectors, opens the new "Call for Startups 2024." Starting from Monday, May 6th, Italian and international startups that intend to open a branch in Italy can submit their applications on the website. "In addition to entrepreneurs already in Italy, we aim to increasingly reach and support those Italian founders who have established their companies abroad and wish to open a branch in Italy to hire, conduct research, and develop new business," declares Enrico Dente, Director of Motor Valley Accelerator and Plug and Play.

Motor Valley Accelerator is the result of a joint operation involving CDP Venture Capital, through its Accelerator Fund, Fondazione di Modena, and UniCredit, managed by Plug and Play, also acting as an investor, and CRIT.

For the 2024 edition, Agrati and Gruppo Hera also joined as new corporate partners of Motor Valley Accelerator, confirming the importance of collaboration between different sectors to promote innovation and sustainable development in the mobility landscape.

The startups, identified in the pre-seed and seed stages, will be evaluated by Plug and Play, also through its international offices in Silicon Valley, Detroit, and Stuttgart, by CRIT, as the Technical Partner, by the team of CDP Venture Capital, and through the involvement of partner companies including STMicroelectronics, Ferrari, Dallara, Sabelt, OMR, UnipolSai, Agrati, and Gruppo Hera, with the aim of growing and becoming national champions of innovation in the automotive and motor-tech landscape.

The startups that successfully pass the selection process will have access to investment ticket of up to 400,000 euros and will benefit from an advanced program tailored by the Motor Valley Accelerator team to the specific needs of each entity. From access to a high-level mentor network, to connections with international leaders in the mobility and automotive sectors, to sessions with successful entrepreneurs and dynamic workshops for product development and business growth, this program is designed to provide all the necessary tools to drive

the next big step forward for target companies. Furthermore, this opportunity enables engagement with investors of the caliber of CDP Venture Capital and Plug and Play Tech Center, who, with their track record and national and, above all, international networks, can bring fundamental added value for business expansion.

"Motor Valley Accelerator has been one of the first and certainly one of the most successful programs of the National Accelerators Network, and Mobility is one of the strategic focuses on which CDP Venture Capital will concentrate its investment activities in executing the Industrial Plan 2024-2028," comments Stefano Molino, Head of the Accelerator Fund at CDP Venture Capital. "It's a sector with enormous growth potential where Italian companies can truly make a difference by catalyzing resources and innovation. This is also demonstrated by the new corporate partners Agrati and Hera, who have chosen to join the Accelerator."

Agrati, a leader in the field of fastening and assembly components for the automotive industry, brings with it extensive experience in innovation and technology. Paolo Pozzi, CEO of Agrati, emphasizes: "In recent years, the mobility sector has been undergoing significant transformations, and now more than ever, it is crucial for automotive component companies to anticipate the new needs of customers with innovative solutions. Our participation in the Motor Valley Accelerator aims to identify creative ideas on a global scale, through a proven selection process and in collaboration with highly qualified companies. For Agrati, it is an honor to be part of this context."

Another strategic partnership is with Gruppo Hera, one of Italy's largest multi-utility companies operating in the environmental, energy, and water sectors, with approximately 10,000 employees dedicated every day to meeting the diverse needs of around 5 million citizens. Palmo Antonio Cavallo, Head of Digital Transition and Data Analytics, states: "This agreement with an entity that oversees the most important innovation hubs in the world is important for finding promising solutions in strategic areas for Hera's businesses. Startup scouting activities and continuous monitoring of innovation trends are areas where Plug and Play excels, and Gruppo Hera is confident that it can achieve significant objectives through this collaboration. In particular, in 2024, the themes of the partnership are linked to major challenges for the multi-utility company, including smart cities, circular economy, and the use of new technologies to further increase efficiency and quality in water resource management in the served territories."

"Together with a network of partners that continues to demonstrate strong attraction capabilities, we have created a concrete tool to support the growth of companies and supply chains in the Motor Valley of Emilia-Romagna. It's an opportunity to bring out talents, which also benefits positively from its location in Modena. Several startups, after experiencing the Motor Valley Accelerator, have decided to settle in our territory, and the creative and productive ecosystem will benefit from it in terms of innovation, knowledge, and opportunities," emphasizes Matteo Tiezzi, President of Fondazione Modena.

Stefano Gallo, Head of Territorial Development at UniCredit, states: "This call tells us, once again, that development systems must find solutions for both the complexity of sectors and the proximity of territories. It's a challenge that Modena is tackling clearly and with adequate means. As a bank, we are committed to accompanying the sustainable growth of the productive fabric and communities. Our presence in the Accelerator and related initiatives is a concrete example of this."

"After four years of contacts and collaborations, we recognize the relevance of the Motor Valley Accelerator and the startups we have encountered within our open innovation programs. The richness of stimuli and competencies from the Motor Valley and the companies it attracts helps us anticipate and define technological choices in the mobility sector and beyond. We are preparing to extend the synergies identified with CP, Plug and Play, and Motor Valley Accelerator to other open innovation initiatives worldwide," stated Alessandro Cremonesi, Chief Innovation Officer of STMicroelectronics.

In addition to the activities of the Motor Valley Accelerator, there is also an extensive calendar of events connected to the sector, both in Italy and worldwide, in which the portfolio of startups from the Motor Valley Accelerator is actively involved to maximize project visibility and business opportunities.

During the last edition of the Motor Valley Fest, the open-air festival in the Motor Land of Emilia-Romagna, Motor Valley Accelerator also took center stage on May 2nd at the conference titled "Investment Strategy in the World of Startups: in partnership with Motor Valley Accelerator" held at its headquarters in the historic center of Modena, with the involvement of 360 Capital, Kilometro Rosso, Nextalia Ventures, and Plug and Play.

This is just the latest step in a program aimed at raising awareness about the world of innovation and entrepreneurship, with Motor Valley Accelerator having organized two other important events in April. The "Mobility Founder Mixer" (April 12) was an event dedicated to the entire Italian community of startup founders in the automotive and mobility sectors, while the third edition of the "Driving Innovation Hackathon" (April 18), with the support of UniCredit and Bocconi 4 Innovation, involved partners of Motor Valley Accelerator that provided industry challenges to students who then participated in project evaluation by the judges.

For more information:

Cinzia Di Rosa - dirosa@meneghinieassociati.it Ilaria Battistutta - i.battistutta@pnptc.com