Banca Sella has announced the 7 finalist projects of its incubation program on Artificial Intelligence: “Artificial Intelligence Business Incubator.” All 72 participating startups exhibited their projects based on AI technologies applied to the finance sector.
Banca Sella and its Artificial Intelligence Business Incubator program
Banca Sella launched its international initiative last June, called Artificial Intelligence Business Incubator, which involved as many as 72 startups from 14 countries around the world.
Basically, participants included startups, researchers, entrepreneurial teams, university spin-offs and companies with projects based on AI technologies applied to the financial services industry.
Their projects developed solutions applicable to banking and financial processes and products, using Artificial Intelligence, such as deep learning, machine learning, generative models and synthetic data.
The Artificial Intelligence Business Incubator was implemented together with dpixel – the Venture Incubator of the Sella Group – with the support of the Fintech District.
Specifically, the 72 initial participants who proposed their AI projects for finance came from 27 from Italy, 6 from the US, 5 from the UK, 4 from India, and 3 from Germany. Not only that, the remaining applications submitted were also from Singapore, Argentina, Brazil, Israel, Ireland, Nigeria, and Poland.
Banca Sella: Who are the 7 finalist projects of the Artificial Intelligence Business Incubator program?
These days, the panel of experts from Banca Sella, dpixel and the Fintech District thus selected the 7 finalist projects of the Artificial Intelligence Business Incubator program.
In the list, there are as many as 5 Italian projects such as Dedalo AI, a company that provides energy optimization software through analysis and monitoring of energy and CO2 emissions. Ellycode, then, has developed a platform that allows users to interact and analyze data through a natural language-based user experience.
Eoliann developed APIs that, from analyzing any geographic address, predict the probability of natural disasters, their intensity, and their impact at an exact location.
Plino, on the other hand, used AI to make it easier and faster to monitor management control, such as costs, revenues, and margin trends. Whereas WiseLoop developed an AI-powered sales assistant that works across different touch-points, such as CRM, social networks, and email, to increase and make sales prospects more efficient.
The remaining two projects are then Israeli company Lawpera, which developed a web application that automates the process of creating and analyzing legal documents and contracts using its legal chatbot. While Legal-Phytia of the United Kingdom, which has developed web search software that uses Explainable AI to automatically organize, categorize, and retrieve data, particularly legal information.
These 7 projects will now enter the “sprint period,” a coaching track that includes participation in master classes, one-on-one mentorship sessions, and technical consulting. Not only that, at the Salone dei Pagamenti in Milan in November, there will also be a “Demo Day,” where the finalists will be presented and recognized as projects of the Sella Group ecosystem.
The metaverse initiative
Banca Sella is not new to initiatives involving the most emerging technologies. And in fact, in July 2023, Banca Sella had launched its new international accelerator program based on the metaverse. The goal is to expand its interests in the Web3 sector.
Here, too, Sella’s Venture Incubator dpixel has been involved to identify and support innovative startups in the field of finance applied to the metaverse.
Specifically, the Web3 metaverse chosen by Banca Sella’s program involves the use of native decentralized technologies and blockchain protocols.
Called “Metaverse 4 Finance,” the initiative aims to accelerate the development of startups that can bring Web3 benefits to businesses. To give an example, it talks about optimizing infrastructure, improving user experience and providing “as-a-service” solutions to revamp traditional apps.