Technogym has announced a new ‘Wellness Accelerator Programme’ to support innovative projects working to reinvent and improve wellness.

A collaboration between Technogym, the Alessandri family’s angel investment fund Wellness Holding and Italian venture accelerator H-Farm, the initiative will offer backing and expertise to small wellness companies from across the world.

The project is aimed at a sector which is ripe for expansion. According to the Global Wellness Economy Monitor the Wellness Lifestyle Industry is worth US$2.8tn (€2tn, £1.7tn), with healthy growth expected to continue as consumer become increasingly health conscious.

Kicking off on 23 March, the four-month programme will select five teams with good ideas and technical skills, which will then be honed with H-Farm through the Wellness Accelerator Programme.

Each team will receive a package worth more than €80,000 (US$91,000, £60,000), divided into different services, such as mentoring, networking, room and board, work spaces, specific events, technical and professional services, plus a cash investment.

The types of projects eligible for selection will be focused on wearable devices, platforms and tools, big data and analytics, and services in the health and wellness sector. The selected teams will also receive the support of mentors and wellness professionals from both Technogym and H-Farm.

“Innovation has always been the driving force of the growth of Technogym and our group,” said Technogym president and founder Nerio Alessandri.

“Wellness is one of the leading global trends and we are proud to contribute in the implementation of innovative ideas that help creative and talented young people realise their dreams and spread the wellness lifestyle as an opportunity for the people’s wellbeing.”

Applications for the programme need to be submitted by 28 February, 2015. Visit www.wellnessaccelerator.com for additional information.