dPixel‘s ‘Metaverse 4 Finance’ accelerator gets underway as it prepares startups for success in the metaverse.
Representing the first Italian acceleration programme, it aims to identify and support the growth of domestic and international startups for the development of innovative, economically sustainable, inclusive and safe solutions and technologies within the financial applied metaverse.
The metaverse is expected to reach a global market value of $678.8billion in 2030 with a compound annual growth rate (CAGR) of 39.4 per cent; according to Grand View Research.
Based on a combination of high-tech factors such as infrastructure, interfaces, hybrid/virtual experiences and creator economy, the metaverse can enable new and unexplored market opportunities for the world of finance.
The initiative will run for a period of six months involving four phases. This includes the opening phase of scouting and selecting the most suitable startups, followed by the second step of business acceleration to support the business plan and identify the 10 most-applicable startups.
The technical validation phase of the products and solutions will then come next for the five finalist startups (which will receive funding of €100,000 each) before moving on to ‘matchmaking’, exploring the opportunity of integrating the developed innovations within the processes of companies operating in the industry.
“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,” comments Stefano Azzalin, CEO at dPixel.
“Through this Metaverse 4 Finance initiative, the group takes a further step forward to increase the country’s ability to innovate and thus drive its growth and development, involving exclusive partners and calling together national and international startups, representing a vital resource to invest on for the economic and social progress.”
Massimo Lapucci, CEO of the accelerator’s partner OGR Torino, added: “Among the many interconnected phenomena that reshape the social and economic dynamics of the present, the metaverse represents a particularly challenging frontier full of opportunities.
“Further to the unexplored potential of a true ‘new reality’ where to move and relate, there is the dimension of a megatrend currently in full swing that will have far-reaching repercussions on all sectors of our life, from socializing to gaming, from marketing to finance.”
Startup requirements involve a defined core team, a clear value proposition, a prototype ready for market launch within six and 10 months, and a technology readiness level (TRL) greater than or equal to six.