€15 million invested in FoodSeed Accelerator to drive innovation in Italy's food industry

The Italian agrifood system represents 25% of the national GDP and has historically been a driving force for the country's growth and development. Currently, this market faces several pressures that question the resilience, efficiency, and sustainability of the industry compared to other international markets. For the development of Italian companies in this sector, which have always been global symbols of excellence and quality in 'Made in Italy' products, there is an urgent need to adopt new business models incorporating sustainability and technology as strategic pillars.

In this context, Eatable Adventures, a leading food-tech accelerator, has been chosen by CDP Venture Capital's national network of accelerators to lead 'FoodSeed', the national agrifood tech acceleration program. FoodSeed will join the national network of accelerators of the Italian public venture capital, which already has nearly 20 verticalized program, to support the development of the most disruptive agrifood Italian startups.

FoodSeed has received support from promoters and main investor partners CDP Venture Capital, Fondazione Cariverona, UniCredit, and Eatable Adventures, with a funding of more than €15 million (€12 million allocated by CDP Venture Capital, Fondazione Cariverona, and UniCredit, and €3.24 million in additional resources from Eatable Adventures). For three years, the program will select up to 10 startups a year to boost one of Italy's most important innovation ecosystems, specifically in sustainable agriculture, food and beverages, and circular economy.

Thus, Eatable Adventures begins its commercial activity in Italy, where it has already established offices in the city of Verona, a manufacturing hub in northern Italy, and home to some of the most prominent Italian food companies.

The accelerator has appointed Riccardo Fisogni, Vice President & General Manager of Eatable Adventures Italia, to lead the project. Fisogni is an investment banker, advisor, and business angel with a decade of experience in strategic financial consulting for SMEs and startups. He will promote the company's 2023 agenda, which includes significant initiatives aimed at renewing the local agrifood ecosystem through the development of new models of collaboration with global ambitions.

"Italy is a strategic market on the global stage, and it is now critical to accelerate the food system transition," said Fisogni. "The FoodSeed programme will power a new generation of food-tech startups in Italy, assisting in the global transition of the food system. It is an excellent opportunity for both startups and Italian agrifood companies facing significant economic and environmental challenges. Innovation is the solution to our industry's major challenges and a key driver of its competitiveness."

In addition to the FoodSeed program, Eatable Adventures Italy will also promote local ecosystem development initiatives and open innovation projects aimed at fostering the Italian industry's economic progress and competitiveness, focusing on collaborations among key players in the agrifood value chain, including companies, startups, universities, and R&D centres.

“The Italian food industry is undeniably a strategic market on a global scale, and its emerging ecosystem provides a fantastic opportunity to accelerate the implementation of new technologies in the sector," added José Luis Cabañero, Founder & CEO of Eatable Adventures. "We are excited to take on this new challenge and build synergies with a market that has very similar characteristics to Spain's, which will undoubtedly help us structure the European agrifoodtech ecosystem."

The new FoodSeed programme joins Eatable Adventures' more than 10 incubation and acceleration programs for businesses, governments, and projects developed by the accelerator itself. The company connects the most innovative startups with industry, investors, and institutions on four continents to build a solid and competitive agrifoodtech ecosystem on a global scale.