The authorities in March had introduced its intention to arrange an funding fund to advertise initiatives within the AI sector, backed by CDP, as a part of its broader push, as chair of the G7, to give attention to the impression of AI on jobs and inequality.
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CDP Venture Capital will make investments 580 million euros in startups and an extra 300 million euros can be made obtainable to corporations able to increase overseas, it mentioned in a press release presenting its industrial plan.
An additional 120 million euros can be devoted to so-called “technological transfer”, primarily for college analysis initiatives.
In the 2024-2028 interval the fund plans to take a position an general complete of 8 billion euros.
“Italian innovation has solid roots and numerous scientific and technical firsts, now it is time to return to playing a leading role in the international economy, recovering vision and competitiveness,” mentioned CDP Venture Capital Chief Executive Agostino Scornajenchi.
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Source: economictimes.indiatimes.com