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FAROS

FAROS

FAROS Accelerator Logo - Blue Economy Accelerator Transforming the port from a physical place where activities and trades are carried out into a dynamic place where the same activities and trades can evolve and become an "inclusive laboratory", open, innovative and source of dialogue. This is the objective that the Port Network Authority of the Ionian Sea intends to pursue also through the acceleration paths led by FAROS, the first Italian accelerator dedicated to the Blue Economy and port innovation.

Our 2023-2025 Three-Year Operational Plan reconfirms the willingness to innovate as one of the main drivers of development of the port of Taranto. With this in mind, the Port Network Authority of the Ionian Sea has promoted innovation activities in order to create a hub for developing new ideas and skills related to the latest trends in the Blue Economy.

The port of Taranto, in these practical terms, is an open and inclusive space promoting dialogue with the territory and the local entrepreneurial fabric, where the ecosystem can meet innovative companies, cross-pollinate, and contribute together to virtuous processes of innovation, in which companies express needs and start-ups offer innovative solutions. With this in mind, the Port Network Authority of the Ionian Sea has invested in FAROS, with the hope that, over time, it will connect not only to the port, but also to the city and its economy. Established in 2021 on the initiative of CDP Venture Capital SGR in collaboration with the Port Network Authority of the Ionian Sea - Port of Taranto, FAROS promotes a resilient, innovative and sustainable maritime economy in Italy by supporting startups engaged in the development of innovative solutions in the following areas:

Focus Areas

  • Ocean Data
  • Ocean Energy Systems
  • Sea Health & Restoration
  • Smart Ports & Green Shipping
  • Sustainable Aquaculture
  • Innovative use of marine resources
  • Shipbuilding
  • Coastal Tourism

Managed by the programme manager a|cube together with the local manager Wylab, FAROS operates nationally and internationally through the local hub in Taranto and the hub in La Spezia.

Services Offered to Start-ups

  • An acceleration path (up to 16 weeks): Masterclasses, one-to-one coaching, mentoring with industry experts, and networking with national and international stakeholders.
  • An investment in the form of a convertible bond of up to EUR 65,000: With potential seed and follow-on investments between EUR 200,000 and EUR 275,000.
  • Pilot projects and open innovation: With the strategic and operational support of local authorities and corporate partners, start-ups will be able to work on pilot projects (Proof of Concept - PoC) aimed at testing new solutions.
  • A workspace: Provided at the accelerator's offices for the duration of the programme as places of collaboration and exchange between key innovation actors.
FAROS Program Presentation for the Blue Economy

Taranto Hub Partners

The activities of the Taranto Hub are carried out in collaboration with: Port Network Authority of the Ionian Sea - Port of Taranto, Main Partners: Intesa Sanpaolo, Acciaierie d'Italia, Fincantieri and Institutional Partners: Municipality of Taranto, Taranto Chamber of Commerce, and University of Bari Aldo Moro - Ionian Department of Taranto. The Taranto Hub also benefits from the support of Corporate Partners: Joule - Eni's School for Entrepreneurship, Total Tempa Rossa Project, BCC San Marzano, and RINA.

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