Digital Magics Launches 56CUBE to Back Southern Italy-Based Startups

Milan, Italy-based investment company Digital Magics has launched 56CUBE, an internet venture incubator which aims to replicate its business model with a focus on Southern Italy.

Founded by CEO Gennaro Testone and located in Fisciano (Salerno), 56CUBE will focus on supporting young entrepreneurs, backing them acting both as a venture capitalist, providing seed-stage financing to startups, and as an incubator, supporting young companies with services including human resources, product development (both strategy and technology), finance and marketing support, administration and logistics, assisting the teams with sector specific managerial expertise. It will also help the companies raise new capital and identify private investors for successive rounds.
56CUBE, which will be presented officially at TBIZ 2012 (Naples, Italy) on November 7th-8th (Pad. N°6), will also partner with Università degli Studi di Salerno to share skills and competencies with the mutual objective of fostering the advancement of the local high tech ecosystem.

The first two incubated startups are You-ng, a project revolving around independent publishing financed directly by users and founded by Germano Milite, and SkillMe, a digital network of free lance professionals founded by Danila Autuori.

Led by Founder and Chairman Enrico Gasperini, Digital Magics is a venture incubator which has been active since 2008 to support innovative startups with a high tech focus.



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