TLDR:
- Italian state lender, Cassa Depositi e Prestiti (CDP), to invest 1 billion euros in AI and cybersecurity over the next five years.
- CDP Venture Capital plans to invest 580 million euros in startups, 300 million euros for companies expanding abroad, and 120 million euros for technological transfer.
The government of Italy, through its state lender, Cassa Depositi e Prestiti (CDP), has announced a significant investment of 1 billion euros in artificial intelligence (AI) and cybersecurity over the next five years. This venture capital initiative aims to promote projects in the AI sector and address the impact of AI on jobs and inequality as part of Italy’s broader push on AI.
CDP Venture Capital will allocate 580 million euros to support startups in the AI space, with an additional 300 million euros earmarked for companies looking to expand internationally. Furthermore, 120 million euros will be dedicated to technological transfer projects, particularly in university research endeavors.
Looking ahead to the 2024-2028 period, the fund plans to invest a total of 8 billion euros, signaling a significant commitment to fostering innovation in Italy. Agostino Scornajenchi, Chief Executive of CDP Venture Capital, emphasized the importance of Italian innovation in the global economy and expressed a vision for the country to regain a leading role in the international market through this investment.
This strategic move by Italy’s state lender underscores the country’s commitment to leveraging AI and cybersecurity as key drivers of economic growth and technological advancement. By supporting startups, facilitating international expansion, and promoting technological transfer, Italy aims to strengthen its position in the AI industry and contribute to the global innovation landscape.
