Acquisition International - Issue 4 2022 7 The Italian Artificial Intelligence Startup Factory: Creating Startups Through Innovation validation method. Essentially, the company’s strategy is to patent the idea of a start-up from the very start and classes itself as a cross between an incubator, a venture capital and a software house. Currently, FoolFarm builds at least six start-ups a year and is constantly developing intellectual property and patents to do so. “In 2021 alone, we released over four patents including the famous Data Pulverization patent based on Homomorphic encryption - a form of encryption that permits users to perform computations on its encrypted data without first decrypting it,” Andrea explains. FoolFarm is founded and led by investors, serial entrepreneurs and passionate individuals who are open to innovation, driven by lean start-ups and experts in AI, blockchain and cybersecurity technology, user experience and digital marketing. At FoolFarm, its business approach is significantly different from traditional firms that use incubators and accelerator methods. Andrea adds to this, stating, “We do not limit ourselves to supporting already formed start-ups, but we are co-founders of all our initiatives. We’re fully committed to finding new ideas and opportunities that together with a great product, technology and team, can disrupt potential markets.” Before anything is started, the first step in creating a successful startup begins with a deep market analysis where the company aims to identify potential ideas and opportunities for growing markets. “It can be new ideas, proven businesses within other markets or optimisations for current broken business models. Our potential ideas are defined and exposed to more analysis and critical thinking processes to develop a shortlist that will be tested and validated with our world-class advisors. Once our mind is clear, and we know the strategies for product development, technology and go-to-market, we move on to create the prototype. We’ve got a culture of makers, and our formula is about mixing it with our passion for entrepreneurship,” explains Andrea. FoolFarm is meticulous and invests resources in specific products that push the company forward to gain metrics and insights from the market. To obtain enough tractions, a significant number of resources are used. Therefore, the company holds a series of investments to build its team and business while making the product and independent business. To stay afoot in the industry, Andrea and her team at FoolFarm operate by technological waves to anticipate trends that will dominate within three to five years. Utilising this innovation ensures the company’s success and overall grand reputation as a leader in the industry. Andrea adds to this explain the examples of this technology, stating, “Last year we focused our attention on voice-based technologies and data security using blockchain technologies as a system to enable decentralised trustability models. This year we are instead addressing the issue of NFTs and their non-standard applications to bring this revolutionary technology beyond its current borders. In particular, in May, we will launch a new start-up named Fragmentalis. This revolutionary start-up will be based on our data pulverisation technologies to create a new IT security and data protection model, more respectful of the customer and his ownership.” For now, the future of FoolFarm is strong and evolving rapidly, surpassing industry standards of quality, innovation and even concerning potential trends and competitors. Simply, there isn’t a business in the world that can match the efforts of FoolFarm, and that is precisely the reason for its innate recognition as the Leading Artificial Intelligence Venture Builder in Italy. Company Name: Foolfarm Spa Contact Name: Andrea Cinelli Web Address: Www.Foolfarm.Com Contact Email: Info@Foolfarm.Com
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