Global network of industry-focused accelerators Startupbootcamp has announced the launch of its first ItalianTech acceleration programme, focused on supporting 12 innovative “Made in Italy” startups entering the UK market.

Sponsored by the Italian Ministry of Economic Development and the Italian Trade & Investment Agency in London, this cohort is now part of the UK chapter of the Global Startup Program, which has allocated a total fund of 4 million Euros to the project.

It is supporting 104 innovative startups attending international programs in six countries worldwide, across Great Britain, China, USA, South Korea, Japan and Slovenia. The objective is to finance an experience abroad for the best start Italian companies engaged in innovative sectors with strong potential for international growth.

The UK programme with Startupbootcamp will include three months of training, covering introductions, corporate introductions for collaborations and support on successfully launching operations in the UK, whilst growing a user base.

Elisa Grasso, Program Director, Startupbootcamp ItalianTech commented: “We see huge opportunities in between the Italian and UK startup ecosystems. The Italian tech startup market is undergoing tremendous growth – in 2018 Italian startups raised €522 million, compared to just €140 million in 2017. We are looking forward to connecting the startups partaking in our programme to the tools and companies that will give them the best foundation for success with their UK launch.”

Michele Geraci, Undersecretary for Economic Development for Italy said: “I started this programme because I strongly believe that a period abroad represents a significant step to allow our young companies to open up to the world and to take that leap forward in the dimensional growth that has been lacking so far and that has meant that Italy is one of the few countries without “Unicorns.”

“We have chosen to invest directly in the experience of young startups, and not to provide a simple direct financial contribution because we believe it is essential to confront international realities to concretely accelerate the growth of companies and their internationalisation. The Global StartUp Program represents the starting point of new attention for these companies, which are fundamental for the growth of our economy, in Italy and abroad, which is added to other domestic initiatives.”