Banking and Financial, Start up Incubator, presentation of eight new startups in the insurance fintech
Digital Magics presents eight new startups in the insurance fintech.
The stock reacts positively and rises to 8.8 euros, with trade also on warrants. The Magic Wand program that will start in a week is supported, among other things, by large banks, starting from Intesa Sanpaolo, BNL, Sella lab and Poste Italiane group. The relative majority shareholder in the incubator, Tamburi Investment Partners, in maneuver on the stock.
In a session with the index always upward, it was distinguished, especially for the trade on the warrant (+3.7), Digital Magics, the startup incubator, whose stock rose 3.8% to 8, 8, euro, which compares with € 7.5 of the price listed on July 31, 2013.
Marco Gay, CEO of the incubator announced this morning that the Magic Wand, an acceleration program dedicated to the innovation of the Finance and Insurance sector, and the names of the participants, will start in a week.
The objective of the program is to support and accelerate the growth of Italian startups thanks to the creation of an Italian center of excellence to innovate the Fintech sector, based on a system alliance created with the most important operators in the market.
“Together with the companies and our partners we want to bring out something important that can compete internationally,” said Michele Novelli, creator of the Magic Wand, during the presentation of selected startups to participate in the program this morning at the Fintech District in Milan .
“The interesting thing – continued Novelli – will be to understand how companies belonging to different sectors can work together and see what will come out of the interaction and the contamination between participants and partners”.
The basic idea of the project is to export innovations in the Fintech market, “in which Italy can play a leading role”, as stated by Marco Gay, CEO of Digital Magics, and where the classic operators of market must learn to deal with giants of the likes of Apple, Google and Amazon, if they do not want to be cut off.
“At Fintech – explained Gay – we have an experience that comes from afar and a know-how that allows us to identify the main development trends. With the path we start today we want to export many innovations in a market that certainly needs it ».
Magic Wand will offer to the 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 Group, Innogest, Poste Italiane, SellaLab, Sisalpay, Societa ‘Reale Mutua di Assicurazioni and Ubi Banca – a first grant of 5,000 euro along with a mentorship course of 6 months and a further grant for those companies that will demonstrate the best performance with respect to growth targets.
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 and Moneymour. In the next few days the last two will come to complete the team.
The acceleration program will propose to the selected startups development opportunities thanks to the 10 partners who will provide their skills and experience, and to the mentors of reference, experts in the sector involved in the project. In March, a second selection will take place which will allow the 6 startups who have shown that they can grow according to the established objectives of continuing and concluding the path.
These, which will be given a second grant of 15,000 euros, will participate in the final stage of Magic Wand’s Investor Day, with the most important Italian and international investors, and will have the opportunity to join the Digital Magics team, as hoped that Gay Mf-DowJones said “in the path that we start today there are startups that we hope to enter the family Digital Magics, to increase its value with the ultimate goal of bringing them to the stock market.”
Finally, there are further important opportunities offered by Neva Finventures (Gruppo Intesa Sanpaolo), Innogest and SellaVentures (Banca Sella Group) who have decided to reserve the possibility to finance the six Magic Wand startups, which at the end of the program will have reached the pre-set goals and kpi (Key Performance Indicator).
Meanwhile, the business incubator is preparing for the Digital Magics Investor Day: Strategic Scenarios 2018, which will be held next January 30 at Talent Garden – Milan Calabiana – during which “we will present the new startups and provide further details on the partnership with Tip, we intend to strengthen – explained Gay, who then concluded – soon we will also start again with Gioin, the Italian Open Innovation Network, Gasperini, a project on which we plan to invest a lot ».
Source Milan Finance
January 15, 2018
Pier Paolo Albricci
