Italian banking group Sella has reportedly introduced an acceleration program focused on helping startups who are working on finance solutions for the Metaverse.
Managed by Sella’s venture incubator dpixel with the OGR Torino hub, the Metaverse 4 Finance Accelerator is focused on identifying and supporting national and global startups with a defined core team, a clear value proposition, and a prototype that’s ready for market launch within the coming months.
The 6-month program will reportedly consist of four different phases, starting with scouting for startups, which will then be whittled down to 10 based on their business plans. The final five companies will then be facing a technical validation phase.
These five firms will then each get €100,000 in funding and be able to take part in a ‘matchmaking’ process with key industry players.
Stefano Azzalin, CEO, dpixel, stated:
“In this unique period combining evolution, discontinuity and transition to Web3, it is even more essential the continuous support to an open and innovative ecosystem to give impetus to ideas and solutions useful to citizens and businesses, wherever they act, be it the physical world or the Metaverse.”
As noted by its management, dpixel is “the advisory company for Barcamper Venture Fund.”
Their focus is “helping talented entrepreneurs to startup remarkable companies.”
dpixel’s purpose is “to develop new entrepreneurs by scouting, coaching and mentoring them in its “Garage” during the Acceleration Program.”
dpixel is focused on the new business opportunities “opened up by digital technologies as business enabler, both in consumer and business-to-business sectors.”
As covered in November 2021, BBVA, the Spanish multinational banking group, and the Sella Group had entered into a partnership that is focused on supporting Open finance.
Through the partnership, BBVA will be providing its foreign clients, who are willing to operate in Italy and those of the newly launched virtual bank, with a series of domestic payment services like F24, postal bills, CBILL and pagoPA.
The agreement notes that Banca Sella will make available to the Spanish financial group its products via the APIs that are managed via the platform of Fabrick, a firm operating globally to promote Open finance services.