From social insurance through community of users, to the system for creating and archiving invoices and sales documents; from the automatic insurance platform to collect and analyze data, to the robo advisor of alternative finance investments. These are some examples of the innovative business models that i focus on projects of the startups selected to participate in "Magic Wand" - the acceleration program launched by Digital Magics, the most important "Made in Italy" digital startup incubator, active throughout Italy - presented today at the Fintech District of Milan, the space inaugurated a few months ago that represents the access point to the Italian fintech ecosystem.
"Magic Wand" will offer to startups, chosen by a jury composed of Digital Magics and the partners of the program, BNL BNP Paribas Group, Credito Valtellinese, Ersel Investimenti, Innovation Center of Intesa Sanpaolo, Innogest, Poste Italiane, SellaLab, SisalPay, Reale Mutua di Assicurazioni and UBI Banca, a first grant of 5.000 Euro together with amentorship course of 6 months, very articulate, and additional grants for startups that will demonstrate the best performance against growth targets.
The aim of the "Magic Wand" program is to support and accelerate the growth of Italian startups by providing financial support, advisorship, experience sharing and business development support at an international level, thanks to the creation of a Italian center of excellence to innovate the finance and insurance sector, based on a system alliance created with the most important operators in the market.
The first 8 startups of "Magic Wand" selected and which have formalized or are formalizing the agreement with Digital Magics are: #InvestFT, Axieme, Cloudesire, Coverholder, DIAMAN Tech, Duedot (Quokky), EasyTax Assistant e Moneymour. In the next few days the last two will come to complete the team.
The insights of the innovative business models of the finalists are online on www.digitalmagics.com
THE PHASES OF THE "MAGIC WAND" ACCELERATION PROGRAM
The acceleration program will propose to the selected startups an agenda rich in content and development opportunities, thanks to 10 partner market leaders, who will also make available their skills and experiences, ai reference mentor that is sector experts involved in the project, to the constant support of the Digital Magics team, which will be dedicated to favoring the growth and improvement of the KPIs (Key Performance Indicators), with a very fast scalability perspective and primary positioning on the market. Numerous are expected training sessions, courses, workshops and master classes with the founders of successful startups and with the top managers of large companies, experts in finance, marketing, legislation, "growth hacking", as well as creatives and developers of platforms and digital interfaces. In March, or at the end of the second month of the acceleration program, a second selection, which will allow 6 startups, which have shown they can grow according to the established objectives, to continue and complete the acceleration process, receiving a second grant of 15.000 Euro, participating in the final phase ofInvestor Day of "Magic Wand" - exclusive event with the most important Italian and international investors - and having the opportunity to join the Digital Magics team. Finally, further important opportunities are envisaged offered by Neva Finventures (Intesa Sanpaolo Group), Innogest and SellaVentures (Banca Sella Group) which have decided to reserve the possibility of financing the 6 finalist startups of "Magic Wand", which at the end of the program will have reached the objectives and KPIs set. In addition, the Innovation Center of the Intesa Sanpaolo Group will offer the 6 finalists access to their own Fintech competence center, the opportunity to participate in international scale up platforms and partnerships with the most important research centers in the world, as well as creating proof of concept on the identified products or services. SellaLab will make access to the API platform available to participants Platfr.io, the offer at favorable conditions of the package of products and services dedicated to Up2Start startups and Gestpay e-commerce platform, as well as the possibility of evaluating any industrial partnerships with the banking group.