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Rome, 13th April 2012
Italian International Growth Agenda
Who’s Who in the Start-Up Segment
Acknowledgments
 This document would not have been possible without the support of many players
 The Italian Business & Investment Initiative wishes to express its gratitude to:
– BAIA, Consiglio Nazionale delle Ricerche – CNR, dPixel, Fondamenta SGR, Innogest SGR, Intesa
Sanpaolo Start-Up Initiative, Mind the Bridge, University of Insubria, Wind Business Factor
And to its national sponsors:
– Alitalia, Booz & Company Italia, Enel, Enel Green Power, Eni, Fininvest, Generali, Intesa Sanpaolo,
Invitalia, Mediaset, Wind
And to its international sponsors:
– Booz Allen Hamilton, Freeman & Spogli, Method Investments & Advisory, McDermott Will & Emery
LLP
And to its partners:
– American Chamber of Commerce, Associazione Laureati LUISS, Consulate General of Italy New
York, Eni, Fondamenta SGR, Fulbright BEST, Italia Camp, Italian Cultural Institute New York, Italia
Trade Commission, Kaminsky Partners, Kanso, M31, NIAF, NOVA, ReedSmith, SVIEC, US Embassy
1
Scope of this document
 This document’s objective is to become a census registry of “Who’s Who” in Italy in the vital sector
of high-tech start-up’s eco-system
 It will identify and summarize each player: universities, incubators, accelerators, financial players,
scholarship providers, domestic and international institutions and that provide support in this
space
 It is a living document
 Players that wish to be represented should kindly send information to the following e-mail:
– info@italianbusiness.org
– Information required: Entity and URL address
2
3
The Innovation System in Italy
A Call for Action
Innovation Players: Who’s who
The Italian innovation system: 4 poles
4
Incubation Funding
CERN
CNR
Laboratories
MIUR
Incubators
TI Lab
R&S
centres
Industrial
districts
Pirelli
Lab
Business
Angel
Private
Equity
Venture
Capital
FDI
Banks
Corporate
Spin Off
ERC/
FP7ENEA
University
Business
Finance
Public
Funds/
grants
IB&II
Seed
ILLUSTRATIVE
Agenzia
Innovazione
Min.
Difesa
ASI
Scada
Lab
(Enel)
Italy can leverage many resources
5
KEY DATA
University
Business
Finance
Public
 16.000/yr graduates in scientific
and engineering degrees
 10.000 researchers
 2.500 new patents / yr
 430.000 papers published from
2001 to 2011
 5.150.000 total citations from
2001 to 2011
 38% of R&D funds come from
private sectors
 89 million VC investments € in 2010
 1000+ fundraising requests / yr
 106 deals in 2010
 O,56% of GDP spent on R&D
 60+ active incubators
 59 bln € of European funds available
(2007-2013)
 0,55% of GDP spent on R&D
 200 industrial districts
 14% of companies receive
public funds
Innovation resources
Sources: PNR-MIUR 2011-2013, ISTAT
6
University support to innovation is growing
# of Graduates
in Sciences and Engineering
Sources: ISTAT-Università, PNR-MIUR 2011-2013, Essential Science Indicators Thomson Reuters 2011, Netval report 2011, Booz & Company analysis
+114%
2009
2,541
2005
1,189
# of Patents
of Italian Universities
+54%
2010 Gap vs.
best practices
27-38k
15,971
2007
10,393
Note: best practices based on Japan , EU-27 (min level) and EU-3 (UK, France, Germany)
University Finance Public Business
1 2 3 4
Italian universities are ranked in the “top-10” for knowledge
production
7
Citations per Million Gross Expenditure in R&D
High Number of Citations Per Million Gross Expenditure in R&D Show
that Italian Scientists Achieve Good Results on a relatively Low Budget
Sources: PNR-MIUR 2011-2013, Essential Science Indicators Thomson Reuters 2011, Thomson Reuters & OECD, Analysis: Evidence, Booz & Company analysis
179
233
251
260
293
340
390
410
597
Australia
Japan
Canada
Spain
France
Germany
Italy
UK
China
USA 1,129
# of Publications on R&D Expenditure
Top 10 Countries for # of Publications (2001-2011)
/ R&D expenditure in 2011 as % of GDP
University Finance Public Business
1 2 3 4
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007
0.5
0.0
CitationsPerMillionGERD(rebased)
2.0
1.5
1.0
UK
USA
Canada
France
Germany
Italy
Japan
China
Brain export: a real challenge!
% of Graduates in Qualified Work PositionsBrain Export
- Top Italian Scientists who are Working Abroad -
Sources: ISTAT-Università, PNR-MIUR 2011-2013, top Italian scientists Via Academy H index March 2012, Booz & Company analysis,
Italy 2010
17%
Italy 2004
19%
EU-27 2010
22%
UK 2010
30%
8
Top 20
40%
Top 10
60%
Top 50
25%
University Finance Public Business
1 2 3 4
Risk Capital: from start-up to international development
9
 Good historical returns of top funds: Venture
needs to be part of an investor’s portfolio
 Expansion Capital offers an attractive,
mainstream asset for an investor portfolio
 We believe that focusing on innovation based
seed, early stage expansion investments will
provide higher returns in the next years
of likely subdued macroeconomic climate
(*): Venture Capital and Expansion
Source: EVCA
Courtesy of Innogest SGR
University Finance Public Business
1 2 3 4
Seed Capital
€20k - €250k
per initial deal
Prototype Stage
Early-Mid Stage
€250k - €2M
per initial deal
Pre-Revenues Stage
Expansion Capital
€2M - €10M
per deal
Commercial
Expansion
European Funds Irr Last 30 Years
10,8%
12,9%
15,2%
15,6%
S&P 500
Balanced(*)
Top Quartile
Expansion
Top Quartile
Venture
Capital
Top Quartile
Venture Capital in Italy
10
VC Investment Trend In Italy
Number of Companies
VC Investments in Italy (2010)
Sector
Source: AIFI
Courtesy of Innogest SGR
University Finance Public
1 2 3
Business
4
Manufacturing
Industrial Services
Other
Utilities
Electronics
Media
Med-Tech 17,3%
14,6%
3,9%
5,1%
5,5%
0,8%
1,2%
1,2%
Biotech 21,3%
0,4%
0,4%
Agriculature
Retail
Automotive
Aerospace
Chemicals
Communications
Other Services
Financial Services
Constructions
Logistics
0,4%
1,6%
Computer 20,5%
2,4%
1,6%
0,8%
0,4%
0,8%
2009 2010
41
(52%)
38
(48%)
106
55
(52%)
79
51
(48%)
30
(34%)
2007
88
2008
88
58
(66%)
66
(75%)
22
(25%)
2006
62
38
(61%)
24
(39%)
High TechNon High Tech
Venture Capital investments’ room for growth
11
VC Investments in Italy (M€)1
Sources: AIFI, Booz & Company analysis
1) Total investments are calculated by taking also into consideration regional investment in local SMEs
89
28
+218%
20102006
University Finance Public
1 2 3
Greece 0,01%
Italy 0,01%
Poland 0,01%
Portugal 0,04%
Germany 0,04%
Switzerland 0,05%
Europe 0,05%
France 0,06%
Spain 0,07%
Ireland 0,09%
Scandinavia 0,09%
UK 0,09%
Sweden 0,15%
USA 0,20%
Israel 1,03%
VC Investment as % of National GDP
62 106# of deals
Business
4
Italian active VCs invested over ~450M€ in ~120 deals
12
NOT EXHAUSTIVE
SELECTED EXAMPLES
University Finance Public
1 2 3
8
17
2525
29
3637
55
6365
80
TT Venture*Innogest Atlante** H FarmEporgenDpixelVertis SGR*360 Capital
Partners
Aladinn
(Friulia)
GenextraNext
(Finlombarda)
Principia
Active Venture Capitals
Invested Capital – M €
# of Firms
in
Portfolio
Venture Capital created following 2008
n/a
14 15 14 n/a 11n/a 231119
Sources: Interviews, company website, AIFI, Booz & Company analysis
* Funds participated by Fondamenta sgr, which includes also Annapurna; ** The entire capital covers three different funds
14 11
Total Capital 100M€,
including international
investments
Business
4
9
EU public funds for innovation & training: an untapped resource
13
National Strategic Framework 2007-2013 – Objectives of convergence and competitiveness
- Spent, invested and total resources available (bln €, 2010) -
Sources: State Accounting, Booz and Company analysis
University Finance Public
1 2 3
FSE (social European fund)
FESR (European fund for regional development)
Gap
7.3
10.9
4.8
5.5
Allocated
44.9
2.1
34.0
2.5
Spent
7.6
59.8
44.3
15.5
Budget
Business
4
Note: These funds are not dedicated only to R&D investments
Italian regions R&D funds utilization
University Finance Public
1 2 3
Examples
 Toscana: Fondo Toscana innovazione, owned by the region
with the aim of investing in start ups and existing companies
operating in innovative fields and located in Toscana -
Toscana also exploited FESR funds for support stage and
internship outside Italy
 Lazio: Filas is the Financial Development Agency of the
Regione Lazio, is part of a network of agencies created by
the regional government to operate in the field of economic
development. Filas' mission is to guide the economy of Lazio
and promote development and innovation, especially through
the adoption of new technologies.
 Lombardia: NEXT is a closed-ended fund of funds,
subscribed by institutional investors, created by Regione
Lombardia with the aim of developing on the territory of the
region a venture capital market focused on innovation and
development of new technologies
 Piemonte: Piemontech is a Venture Capital with the aim of
invest in the most innovative companies in Piedmont with
investments in the range of 100.000-400.000 €
 Campania:
– IMAST is the holding company of the district of
engineering of polymeric and composite materials of
Campania region
– Campania Innovazione is a regional agency with the
aim of promoting R&D and innovation and of boosting
entrepreneurship and technological transfer within the
region
European Fund Distribution 2007-2013
for Research
14
Sources: PNR-MIUR 2011-2013, Booz & Company analysis
25%
8%
10%
11%
Others
Piemonte
Toscana
Lombardia
Emilia Romagna
24%
22%
Lazio
Business
4
15
Example : Toscana exploited Fondo Sociale Europeo (FSE) to
finance the Fulbright Best scholarships
Scholarship Breakdown of past years
(up to 2012)
Italian regions and the Fulbright BEST Opportunity
Sources: Fulbright Best program, Booz & Company analysis
University Finance Public
1 2 3
 Each region is responsible for entrepreneurial programs financed by EU through
FSE fund; part of the fund is dedicated to aspiring entrepreneurs
 Regional offices stipulate an agreement (convenzione) with the US -Italy
Fulbright Commission defining the number of scholarships’ donations
 The Us-Italy Fulbright Commission issues a “bando” every year
 Applicant: graduate or PhD under 35 years of age with a high-tech business
proposition files an on line application to the Us-Italy Fulbright Commission
 The Us-Italy Fulbright Commission runs the selection process and identifies the
winners
 The winners will spend an academic year in the Us combing class work on
entrepreneurship with hands-on experience on how to set up and run a start-up
 Fulbright BEST will provide a 6 month mentoring period in Italy to support each
to set up his/her company
 Detailed information: http://www.fulbright.it/it/borse-di-
studio/italiani/studio/programma-fulbright-best/programma-fulbright-best
Business
4
Grantee Origin
46
11
10
9
4
2
2
2
2
1 11 1
Toscana
Emilia
Lombardia
Lazio
Sardegna
Veneto
Campania
Trentino
Liguria
Puglia
Piemonte
Umbria
Start Ups: the innovation engine
16
EXAMPLE
University Finance Public Business
1 2 3 4
Successful SMESuccessful Start-Ups
Sources: Companies’ websites, AIFI
Italian Start Ups are mainly “digital” with early stage funding
17
University Finance Public
1 2 3
Sectors
25,2%
ICT
Bio/Lifescience
4,5%
60,4%
9,9%
Cleantech
Web/
New media
29,0%
8,0%
Seed
15,0%
40,0%
Venture Capitals
4,0%
Bootstrapping
Grants
Business Angels
4,0%
Others
Sources of Funding
39,0%
Humanistic
61,0%
Scientific
Education of Founder / Entrepreneur
Sources: Mind the Bridge Survey 2011
Business
4
Incubators and accelerators are playing an pivotal role
18
University Finance Public
1 2 3
InitiativesIncubators/Accelerators/Technological parks
Business
4
19
The Innovation System in Italy
A Call for Action
Innovation Players: Who’s who
Country scale is not critical in innovation
20
Sources: Booz & Company analysis, INSEAD, Global Innovation Index 2011, International Monetary Fund
41
54545455555656565757585960
62
64
ItalyNew
Zealand
IsraelIrelandGermanyIcelandUKNetherlandsCanadaUSADenmarkFinlandHong
Kong
SingaporeSwedenSwitzerland
1 2 3 4 5 6 7 8 9 10 11 12 3513 14 15
GDP 2010
Bln $
528 459 223 224 239 310 14 527 1 577 781 2 250 13 3 286 207 217 140 2 055
Global Innovation Index 2011
-Booz & Company, Insead-
For example, Israel is a best practice with an integrated approach to
boost entrepreneurship
21
Sources: Booz & Company Analysis, “Israele, terra promessa dell’innovazione” by Simone Botti 2005, IVC report 2011
 Agency for technology transfers
owned by University with the aim of
sell intellectual property
 Office of Chief Scientist (OCS): to
fund industrial R&D and to simplify the
Venture Capital market
 Yozma: private program for the
investment in Venture Capitals funds
and Start Ups
 Foreign funds: Israeli foreign
branches of Venture Capitals allow
fundraising, especially in US
Insert Text Here
FinanceInsert Text Here
Corporate
University/
R&D Centres
Public
Funding
Knowledge/
Policy
Taxes
Knowledge/ Intellectual property
Policy
Royalties
Profits
Capitals
TT
Agency
Yozma
OCS
Foreign
funds
Israel Country Innovation Plan
Israel innovation results are truly impressive
22
Italy
1.1%
Israel
4.2%
2,14
1,26
+70%
20112010
R&D / GdP ratio
VC Investments
-bln $-
Sources: Booz & Company Analysis, IVC report 2011
 Ranked 1st for the number of start ups per
capita
 Ranked 1st for the R&D expenditure as % of
GDP PPP (4,2%)
 Ranked 1st for the number of engineers every
10.000 inhabitants (150)
 Ranked 3rd behind the US (4836) and
Canada (152) for the number of companies
listed on Nasdaq (57 companies)
 Strong entrepreneurial culture (bottom-up)
and government investment in R&D and
infrastructure (top-down)
Israeli Venture Capital activities are highly developed also in early
stage funding …
23
Sources: Booz & Company Analysis, IVC report 2011
seed
5,0%
early stage
26,0%
mid stage
42,0%
late stage
27,0%
Breakdown of capital raised per stage
Overview
 There are 70 active Venture Capitals investing in
Israel
 75% of capital comes from foreign Venture
Capitals
 796 M $ of capital flowed to Israeli Venture
Capitals in 2011
0,8
0,0
0,3
1,1
1,3
0,8
1,5
20062005 2007 2008 20102009 2011
Capital Raised by VC Funds by Vintage Year
-$B-
2008 2009
788
1,122
2007
1,072
2,075
2010
686
1,758
415
1,262
707
1,287
896
2011
535
1,604
366
2,139
Capital Invested in Israeli High-Tech Companies
-$M-
Foreign & OthersIsraeli VCs
… and highly diversified
24
Internet
25,0%
Communications
15,0%
Software
23,0%
Cleantech
7,0%
4,0%Semiconductors
16,0%
Life Sciences
10,0%
Other
Deal value $MNumber of deals
898
819
531
803
523
376
0
5
10
15
20
Deals$M
200
0
Q2/10 Q3/10 Q4/10
632
Q1/11
1,000
Q2/11Q1/10
739
400
Q3/11 Q4/11
600
800
Private Equity deals by quarter
-$M-
Portfolio of Most Active Venture Capitals in Israel
-2010-
Most Active Venture Capital Funds in Israel
-ranked by # of first investment in 2010-
Rank
Management
Company
Capital
Managed ($M)
Total First
Investments
1 Evergreen 648 6
2
Battery N/A 5
Pontifax 118 5
3
Gemini 696 4
Genesis 618 4
Carmel 608 4
Cedar 325 4
4
Bessemer N/A 3
Pitango 1340 3
Sequoia Israel 580 3
Magma 190 3
Aviv 77 3
Sources: Booz & Company Analysis, IVC report 2010-2011
The innovation value chain
25
Start Up
Legal
practices
Fund
research
Business
Plan
PrototypeIdeaResearch Expansion
Research departments
Incubators
Advisors
University
Business
Public
R&D Centres
MIUR/ECR
Business Angel/Seed
Venture Capital
Finance
1
2
3
4
University spin off
Private Equity
FESR
Scholarship Grants
Accelerator
Technological Park
The eco-system
26
University & Research Finance Public Business
Research
Departments
Advisors
Technological
Parks
Italian funds
Venture
Capitals
Business
Angels/Incubators
Incubators
R&D labs &
Accelerators
European
1 2 3 4
Booz & Company
27
The Innovation System in Italy
A Call for Action
Innovation Players: Who’s who
13th April 2012
Initiatives
Incubators/Technological Parks
Venture Capital
Public Association
Booz & Company
List of Italian Innovation Initiatives
Regions Student Graduate Researcher Entrepreneur Start Ups SME
Italian Business & Investment Initiative
Fulbright Best
Wind Business Factor
Mind the Bridge
Intesa Sanpaolo Start Up Initiative
Forzaidea
Italia Camp
Italian Start Up Scene
CNR spin-off
CNR StartCup
Telecom Working Capital
PNI cube
Seedlab
InnovAction Lab
28
13th April 2012
Booz & Company
List of Italian Incubators/Technological Parks
29
13th April 2012
Regions Student Graduate Researcher Entrepreneur Start Ups SME
Tecnoparco
Reteincubatori.it
TIS innovation park
I3P
Acceleratore del Politecnico di Milano
M31
Digital Magics
H Farm
Incubatore di Navacchio
Tecnopolis PST
CISI scrl
Triboo R&D Incubator
Innovami
We Techoff
Istituto Superiore Mario Boella
Almacube
PST Valle Scrivia
Creaimpresa
Booz & Company
List of Italian Venture Capitals
30
13th April 2012
Regions Student Graduate Researcher Entrepreneur Start Ups SME
Innogest
Eporgen
Genextra
Mp Venture
Alice Ventures
Atlante Ventures
Principia
Fondamenta SGR
360 Capital Partners
Dpixel
Banner Ventures
Zernike Meta Ventures
Booz & Company
List of Italian Public Association
Regions Student Graduate Researcher Entrepreneur Start Ups SME
Italian Angel for Growth
Techno Seed ICT Incubator
Piemonte High Technology
Imast
BIC Lazio
Invitalia
BAIA
Agenzia per l’Innovazione
Italian Consulate New York
Italian Consulate Boston
Italian Consulate San Francisco
American Chamber of Commerce
31
13th April 2012
Booz & Company
32
The Innovation System in Italy
A Call for Action
Innovation Players: Who’s who
13th April 2012
Initiatives
Incubators/Technological Parks
Venture Capital
Public Association
Booz & Company
Name Italian Business & Investment Initiative Website www.italianbusiness.org
Foundation Year 2010 Contact info@italianbusiness.org
Overview Targets
 IB&II is committed to promote Italy as an attractive investment for U.S.
venture capital firms, specifically in the country’s talented SME sector
through a three pillared approach:
– Provide a physical forum to connect the demand of capital to
supply and ideas between the U.S. and Italy
– Promote and sponsor academic research and insight on the
Italian economy, and offer recommendations to policy makers
on how to improve Italian economy
– Support the development of an online platform containing
information about the Italian economy and market.
 Italian innovative companies that are looking for capitals and
know-how in order to reach the objective of expansion.
Results achieved
In 2011, 35 companies have been presented to a community of
500 investors
Name Fulbright Best Website www.bestprogram.it
Foundation Year 2006 Contact 06 83057613 (Enel Green Power)
Overview Targets
 Scholarship for Italian researchers and graduates for a training
program in US with the objective of stimulate entrepreneurship and
create new start ups in Italy. Allow Italian brightest mind to spend a
training period in US in which they can:
– Deepen entrepreneurship topics in the best Business Schools
– Experience a work period in H-tech companies
– Come into contact with US investor community
 Italian regions can activate FSE funds in order to provide FB
scholarships. Toscana is an excellent example of how exploit
European funds for FB program (11 scholarships in the past editions)
 PhD students
 Graduates
 PhDs
 Public institutions (President of Regions)
Results achieved
In 5 years, FB has launched 19 new start ups
13th April 2012
33
Booz & Company
Name Wind Business Factor Website www.windbusinessfactor.it
Foundation Year N/A Contact Costanza Esclapon/Alessandra Bianchini
Overview Targets
 Web platform for aspiring entrepreneurs and start uppers
 Wind business factor competition 2012:
– The best 10 business idea will have the opportunity to
attend a mentorship program of 4 weeks
– For the best 3 business ideas and projects, WBF will
give them the chance to meet Venture Capitals,
Business Angels and successful entrepreneurs.
– The winner of the competition will gain a training trip to
Silicon Valley and Israel
 Aspiring entrepreneurs with a business project or entrepreneurs of
new start ups (founded after January 2011) who:
– Invented new product or service
– Found a practical use of new technology
– Developed a high level of know-how
– Found innovative organizational or market solutions
Results achieved
6500 persons registered
3500 business ideas and start ups supported
13th April 2012
34
Name Mind the Bridge Website www.mindthebridge.org
Foundation Year 2007 Contact information@mindthebridge.com
Overview Targets
 Foundation that runs every year a business plan competition
with the purpose of selecting the best innovative business idea
among Italian participants
 Selected start ups will have the opportunity of attend training
courses in Italy and experience a mentoring program located in
the Silicon Valley
 Objective is to create an Italian entrepreneurial ecosystem open
to internationalization and growth
 Young Italian talents with an innovative business idea
Available Funds
Prize of 400.000 €
Booz & Company
Name Intesa Sanpaolo Start Up Initiative Website www.startupinitiative.com
Foundation Year N/A Contact startup@intesasanpaolo.com
Overview Targets
 Provide the Arena meeting to the best high-tech start ups where
– Meet international investors
– Meet potential partners
 Industries:
– Biotechnologies, life science, healthcare and medical
devices
– ICT, electronics and automation, Mobile
– CleanTech and renewable energies
– Nanotechnologies and high performance materials
– Social Ventures
 Cross Technologies Vertical:
– Agri-Food, Fashion Tech and Design Building And
Construction, Automotive
 High-tech start ups looking for fundraising
 Venture capitals/ Business Angels interested in start up
opportunities
 Industry players interested in new technology to apply in their
businesses
 Incubators, accelerators can provide their help and know-how
Results achieved
 1.000 projects screened and potential start ups contacted
 250 have entered the training program
 165 projects have had the opportunity to meet 2.900 among
Venture Capitals, Business Angels, Corporate and private
investors in 5 Countries
Name Forzaidea (Eur&ca) Website www.forzaidea.it
Foundation Year N/A Contact 02.48015098
Overview Targets
 Website with the aim of helping aspiring entrepreneurs or start
ups to get public funds or to find a partner for their business
 Aspiring entrepreneurs
 Start ups
Results achieved
13th April 2012
35
Booz & Company
Name Italia Camp Website www.italiacamp.it
Foundation Year 2010 Contact 06.85225412
Overview Targets
 Association with the objective of creating a network among
national and international universities with the aim of realize the
best ideas regarding all fields:
– Research, science and technology
– Energy, infrastructure and environment
– Economics, finance and market
– Politics, Institution and public administration
– Job, enterprises, culture and society
 Association works through BarCamp system (from Standford
university): collaborative conference without any type of hierarchy,
in which each member is directly involved
 Currently there are 4 BarCamps (Rome, Lecce, Bruxelles, Milan)
 Professionals
 Researchers
 Students
 Entrepreneurs
Results achieved
13th April 2012
36
Name Italian Start Up Scene Website www.It.startupscene.org
Foundation Year N/A Contact Only website
Overview Targets
 Social network with the aim of keep in contact start uppers,
aspiring entrepreneurs and Venture Capitals
 Startuppers
 Bloggers
 Aspiring entrepreneurs
 Investors
Results achieved
Booz & Company
Name CNR StartCup Website www.startcup.cnr.it
Foundation Year 2010 Contact 06 4993 2617
Overview Targets
 Promote entrepreneurship within research institutes through a
national competition (Working Capital and PNI)
 Bridge the gap between laboratories of research and the
implementation of solutions in real businesses
 Industries:
– ICT, social innovation
– Agro, food, cleantech
– Industrial
 CNR researchers or employees
 Researchers or employees from other research institutes
(CRA, ENEA, INAF, INFN E ISS)
Results achieved
30 business ideas have been selected in 2010 edition and one of
those has won PNI 2010
Name CNR spin-off Website
www.cnr.it/sitocnr/ilCNR/Innovazio
ne/Spinoff.html
Foundation Year N/A Contact Daniela.lanoce@cnr.it
Overview Targets
 To boost CNR researchers to create spin-off from the research
activity through training activity focused on developing
entrepreneurial skills
 Industries:
– Nanotechnologies and Microelectronics
– Biomedical, Biotechnology and Pharmaceutical
– Environment
– ICT
 Management consulting is provided by Rete Venture, a consulting
company owned by CNR
 Financial aid is provided by Principia sgr, VC for corporate spin-off
 CNR researchers
 Winner of CNR grants
Results achieved
52 spin off has been created
13th April 2012
37
Booz & Company
Name Telecom Working Capital (dpixel) Website www.workingcapital.telecom.it
Foundation Year 2009 Contact Info.workingcapital@telecomitalia.it
Overview Targets
 Telecom Italia project aims to sustain young Italian talents in
innovative fields and to boost the creation of start ups by
providing them with different supports
 Young talent with innovative idea
 Brilliant students from Italian university to develop a start up
project
Results achieved
 Research contract and tutoring for 41 research projects
 Incubator contracts for 30 start up projects
 36 early stage assisted companies
Name PNI cube Website www.pnicube.it
Foundation Year 2003 Contact 05.14200349
Overview Targets
 Association that groups together the academic incubators and
Italian academic business plan
 Two initiatives:
– National Award for Innovation
– Start Up of the year
 Objectives:
– Spreading the culture of entrepreneurship among
students and researchers of our universities and
selecting the best business ideas
– Provide an incubator, which supplies all services to make
these companies successful
 Aspiring entrepreneurs
 Reward the young h-tech enterprises achieving the best market
success
Available Funds
Prize for the Start Up of the year: 10.000€
13th April 2012
38
Booz & Company
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39
Name Seedlab (TT advisor) Website www.seedlab.it
Foundation Year N/A Contact TT advisor
Overview Targets
 Entrepreneurship program that provides micro-seed funding
and best-in-class training and mentorship to help promising
start ups succeed
 Learn basics of management from experienced mentors
 Create a network with investors & industrial partners
 Give the opportunity to take part to a business competition with
the prize of business developing trip to Silicon Valley
 Young innovators with:
– Innovative, high quality idea
– Excellent cv
 Investments in:
– Patentable technology
– Digital technology
Results achieved
Name InnovAction Lab Website www.innovactionlab.org
Foundation Year 2010 Contact
Overview Targets
 Non profit association with the aim of teach to University
students how to approach with investors and Venture Capital
funds
 InnovAction Lab organizes lessons and seminars with a
practical approach in order to boost entrepreneurship
 University students interested in understanding the drivers of a
successful business plan.
Booz & Company
40
The Innovation System in Italy
A Call for Action
Innovation Players: Who’s who
13th April 2012
Initiatives
Incubators/Technological Parks
Venture Capital
Public Association
Booz & Company
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Name Reteincubatori.it Website www.reteincubatori.it
Foundation Year 2009 Contact N/a
Overview Targets
 Start up services:
– Idea analysis and implementation
– Management, financial, patent consulting
– Marketing and promotion services
– International network and research laboratories
– Network of Venture Capitals and Business Angels
 Aspiring entrepreneurs in Milan area with innovative ideas
 Existing companies interested in innovative start ups
 Venture capitals and Business Angels interested in investing in
innovative start ups
Results achieved
73 assisted companies, 5 incubators, 310 employees, 25 M €
annual revenues
Name Tecnoparco Website www.tecnoparco.org
Foundation Year 2005 Contact 0371.4662200
Overview Targets
 Parco Tecnologico Padano is the engine of the Lodi Cluster
which hosts many organizations involved in the agro-biotech
sector. The Park also hosts an enterprise Incubator which
makes Lodi one of the main European Agro-Biotech clusters
 The mission of PTP is to build a business-oriented research
network in agro-biotech capable to promote the creation of
start-up and spin-off companies in the agro-food sector by
offering know-how, incubator facilities and administrative
services.
 Aspiring entrepreneurs in the agro-biotech sector
 Existing companies in the agro-food sector
Results achieved
13th April 2012
Booz & Company
42
Name I3P Website www.i3p.it
Foundation Year 1999 Contact 010.0905127
Overview Targets
 Incubator of Politecnico di Torino (the biggest in Italy) with the
aim of help young talent to create new start ups
 TreataBit: from 2011, special incubator for start ups in digital
fields
 Entrepreneurs
 Aspiring entrepreneurs
 Investors interested in innovative start ups with high growth
potential
 Managers who are looking for collaborate with high potential
companies
Results achieved
Name TIS innovation park Website www.tis.bz.it
Foundation Year 1998 Contact 0471 068000
Overview Targets
 Center and driver for innovation, cooperation and technology
transfer for all South Tyrolian players of the innovation
system, especially for existing companies
 They provide patent strategy, product development and
launch, research, technological analysis and networking in
order to make companies of the area more successful
 Existing companies located in the South Tyrol area
Current portfolio
Tis has actually 15 companies in its portfolio
13th April 2012
Booz & Company
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Name Acceleratore del Politecnico di Milano Website www.ai.polimi.it
Foundation Year 2000 Contact 02 2399 2991
Overview Targets
 Services for incubated companies
 Promotion of “Start Cup Milano Lombardia”
 Organization of meetings and promotional activities
 Main industries of interest:
– ICT
– Bioengineering
– Clean Technologies
– Design
– Innovation services
 Aspiring entrepreneurs
 Start ups
 Managers interested in sharing their competences
 Companies interested in collaborating with the centre and with new
start ups
 Investors interested in participating to the capital of start ups or
using the R&D structure
Incubated companies
64 totally (actually 19)
Name M31 Website www.m31.com
Foundation Year 2006 Contact 049.7811811
Overview Targets
 US based Venture Capital with the aim of connect Italian
companies with US market and Venture Capital community
 M31 objective is the creation and growth of innovative
companies in the ICT fields
 Young Italians interested in creating new businesses
 Italian start ups in innovative industries (Biomed, Clean Tech, Web
& digital media, ICT) interested in creating a bridge with US market
and investors
Managed fund
10 M €
13th April 2012
Booz & Company
44
Name H Farm Website www.h-farmventures.com
Foundation Year 2005 Contact 0422.789611
Overview Targets
 H-Farm is a Venture Incubator with the aim of accelerate the
development of Internet startups via a combination of seed
investment and incubation services.
 The Venture Incubator is a hybrid model that reflects the dual
soul of H-Farm: that of Venture Capitalist and that of Incubator.
As a VC they invest seed capital, granting the finance
necessary for the early stage activities; as an incubator they
provide a series of services to speed up the business
development
 Aspiring entrepreneurs and start uppers in the internet sector
Current portfolio
23 companies
Name Digital Magics Website www.digitalmagics.com
Foundation Year 2004 Contact 02.52505.1
Overview Targets
 Create an incubator for online initiatives
 Provide an aid to start ups through financial, administrative,
strategic, logistical, technological and marketing services as
well as business management support
 Seed stage companies in the internet field
Available Funds
16 mln € invested
13th April 2012
Booz & Company
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Name Incubatore di Navacchio Website www.incubatoreimpresa.it
Foundation Year 2003 Contact 050.754702
Overview Targets
 the INCUBATOR, managed by Polo Navacchio spa, has been
conceived and equipped to make easier the most critical stage
of a company, its start- up. In the Incubator the best business
ideas are selected and they are integrated into a system of
relationships of orientation and support, so that they can
develop and start up successfully on the market.
 Service to support the birth, the starting up and the competitive
development of “new companies” and spin offs in the hi-tech
field
 Start ups in the following industries:
– Robotics/sensor
– Non-destructive diagnostic
– Energy/environment
– Services
– Electronics
– ICT
Incubated companies
29 companies incubated from 2003 to 2012
Name Tecnopolis PST Website www.tecnopolispst.it/
Foundation Year 2008 Contact 080.4670663
Overview Targets
 Tecnopolis is a consortium with the aim of manage the
activities of Technological Park of the University of Bari
including:
– Management of technological services
– Attraction and retention of R&D centres, innovative start
ups, researchers
– Creation of innovative start ups and academic spin off
– Technology transfer
 R&D centers
 Entrepreneurs
 Start ups
 Companies interested in training session
Results achieved
13th April 2012
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Name CISI scrl Website www.cisiscrl.com
Foundation Year 2008 Contact 02.50320900
Overview Targets
 CISI scrl operates in the Biotechnology-Life Sciences arena
with the aim of help entrepreneurs develop their innovations into
solid technologies and companies through the access to a life
science incubator structure that provides a range of services
and skills to help scientific entrepreneurs to develop and
enhance their portfolio of projects and innovative ideas.
 Entrepreneurs
 Start ups
 Companies in the life science industry
Fund managed
Name Triboo R&D incubator Website
www.triboo.it/en/r-d-incubator/r-d-
incubator
Foundation Year N/A Contact N/A
Overview Targets
 Triboo Spa is a holding company operating on the Italian and
international internet markets and incorporates a number of
companies and services in e-commerce, Web marketing,
interaction design and online advertising, offering a
comprehensive range of services which includes a special
incubator for web start ups
 Start ups in internet fields
Incubated companies
9 companies
13th April 2012
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Name Innovami Website www.innovami.it
Foundation Year 2005 Contact 0542.643970
Overview Targets
 INNOVAMI sustains the creation and growth of start ups and
companies in the region of Emilia Romagna through the share
of knowledge and technology
 Companies and start ups in the following industries:
– Industrial automation
– ICT
– Electronics
– Environment
– Energy
Incubated companies
15 companies
Name We techoff Website www.wetechoff.eu
Foundation Year N/A Contact 051 6398099
Overview Targets
 We Tech Off is the new project that supports the creation of
innovative enterprises in Emilia-Romagna, through the supply of
services for potential entrepreneurs and technological start-ups.
 The purpose of We Tech Off is to promote the entrepreneurship
culture sustaining projects with strong innovative
characteristics.
 Aspiring entrepreneurs with innovative idea
Incubated companies
36 companies
13th April 2012
Booz & Company
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Name Istituto Superiore Mario Boella Website www.ismb.it
Foundation Year 2000 Contact webmaster@ismb.it
Overview Targets
 Istituto Superiore Mario Boella (ISMB) is a research &
innovation center operating in the Information and
Communication Technologies (ICT) domain. Founded by
Compagnia di Sanpaolo and Politecnico di Torino, today ISMB
relies on the technological and process competences of around
150 researchers working in close cooperation with companies,
academia and Public Administration.
 It plays an active role not only in devising innovative solutions,
but also in their implementation and consequent developments.
This approach represents a step forward with respect to
technology transfer, and in this sense the evolutionary lines of
European research are taken into account.
 Researchers
 Companies interested in collaborating with the R&D centers
 Aspiring entrepreneurs or start ups interested in developing their
innovative idea
Projects
106 projects among completed or ongoing
13th April 2012
Name Almacube Website www.almacube.com
Foundation Year N/A Contact 051.4200311
Overview Targets
 AlmaCube is the Incubator of the University of Bologna ,
founded jointly with Fondazione Cassa di Risparmio di Bologna
in Bologna and Fondazione Alma Mater to promote and sustain
entrepreneurship in the local University system.
 AlmaCube offers spaces and logistic services as well as
relational capital through direct links to local economic and
political institutions and individual actors to young start-ups.
 AlmaCube does not participate financially in the start-ups
hosted, but actively promotes and facilitate funding contacts
and processes with professional investors
 Academic projects
 Only early stage start ups
Incubated companies
14 companies currently incubated
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Name PST Valle Scrivia Website www.pst.it
Foundation Year N/A Contact 0131 860115
Overview Targets
 P.S.T. S.p.A. is related to the promotion and the development of
the Park, with the management of on site properties and with
supporting the transfer of technological know-how to
businesses
 P.S.T. S.p.A. studies and sets up marketing strategies and aims
to attract to its own site and the territory in general new national
and international investments. They collaborate with the
regional body CEIP to attract foreign industrial investments to
the Piedmont territory
 Companies and entrepreneurs interested in investing in Piemonte
 Companies interested in hiring a place inside the park dedicated
to R&D activity
Results achieved
13th April 2012
Name Creaimpresa Website Creaimpresa.it
Foundation Year 1989 Contact info@creaimpresa.it
Overview Targets
 Consulting services for aspiring entrepreneurs
 They provide the “creimpresa kit” that is a business plan guide
to success in all industries
 They provide an online incubator in order to gather all kinds of
information and support for starting new business
 Aspiring entrepreneurs
 Start up companies willing to expand their business
Results achieved
Booz & Company
50
The Innovation System in Italy
A Call for Action
Innovation Players: Who’s who
13th April 2012
Initiatives
Incubators/Technological Parks
Venture Capital
Public Association
Booz & Company
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Name Innogest Website www.innogest.it
Foundation Year 2005 Contact
Overview Targets
 Innogest is the most important VC in Italy. They invest in
companies in early stages (less than 5 years old companies)
with initial investment in the range of 200.000-2 M €
 The main industries of interest are:
– Advanced mechanics
– New materials
– Ict
– Biomedical technology and appliances
– Clean energy
– Innovative services
 Start ups and aspiring entrepreneurs in double digits growth market
Managed fund
80 M €
Name Eporgen Website www.eporgen.com
Foundation Year 2005 Contact 0125 561000
Overview Targets
 Private venture capital dedicated to seed capital investments in
the area of life sciences.
 Eporgen’s mission is to identify and select innovative projects in
the area of life sciences, in which it invests in order to create a
balanced portfolio of small start-up companies that are
supported in their management and controlled by Eporgen.
 Aspiring entrepreneurs and start ups in the life sciences field
Managed fund
7.8 M €
13th April 2012
Booz & Company
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Name Genextra Website www.genextra.it
Foundation Year 2004 Contact 02 3651.5110
Overview Targets
 The mission of Genextra is to identify innovative research in life
science and to develop novel therapies and tools by creating
successful business initiatives in a sustained and long term
way.
 Genextra's holding structure is designed to increase the
probability of success of business initiatives that become part of
the Group by providing specialist management as well as
financial support to a new company vehicle or an existing young
start-up
 Aspiring entrepreneurs and first stage companies in life sciences
sector
Managed fund
Managed 36 M €/ available 96 M €
Name Mp Venture Website www.mpventure.it
Foundation Year 2001 Contact 0552498348
Overview Targets
 MPVENTURE’s investment policy is focused on the Italian mid-
market.
 The targets of the closed end funds managed by MPVENTURE
are Italian companies with development and internationalization
plans. Also companies in which generational handover and
changes in the ownership structure create opportunities of
reorganization of the business are preferred targets.
 Target companies are characterized by high potential value
creation thanks to business model, market positioning, advanced
technologies, brand leadership and world-wide development
strategies
Managed fund
86 M € (Mp venture fund 3)
13th April 2012
Booz & Company
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Name Alice Ventures Website www.aliceventures.it
Foundation Year N/A Contact info@aliceventures.it
Overview Targets
 Leading venture fund management firm in Europe and Israel,
with two most significant hubs of activity – Israel and the UK
 The Alice Ventures trademark is its multinational and
multidisciplinary team of seasoned professionals with strong
real-life experience from the medical, financial, venture capital,
semiconductor and telecommunications fields
 Start uppers looking for defining strategies
 Companies interested in expanding their activities
 Companies looking for recruiting new executives
 Companies facing with fundraising issues
Managed fund
170 M €
Name Atlante Ventures Website www.atlanteventures.com
Foundation Year N/A Contact atlanteventures@intesasanpaolo.com
Overview Targets
 Seed, promoted by Intesa Sanpaolo group, invest in innovative
companies with high growth potential, with particular attention to
those belonging to the high technology sectors
 Atlante provides to SME with:
– Required capital for growth
– Business and managerial expertise developed by the
Fund
– Networking opportunities allowed by being part of Intesa
Sanpaolo Group
 High growth potential SME and Startups
 Atlante Ventures Mezzogiorno is dedicated to companies (startups
and SME) developing ICT investments in Southern Italy
Managed fund
55 M € under management
13th April 2012
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Name Principia Website www.principiasgr.it
Foundation Year N/A Contact 02 36589750
Overview Targets
 Principia sgr manages 2 venture capitals funds with the aim of
support with managerial and financial aids, Italian start ups and
companies.
 Aspiring entrepreneurs and start uppers with innovative idea and a
good team
Managed fund
63 M €
Name Fondamenta SGR Website www.fondamentasgr.com
Foundation Year 2000 Contact 02.7214.7746
Overview Targets
 Holding company with different funds under management
including 2 venture capital funds:
– Vertis sgr: venture fund focused on early stage and seed
financing
– TT Venture: venture fund dedicated to technological
transfer and to innovative researches
 Existing companies
 Start ups
 Researchers
 Academic/Corporate spin off
Managed fund
90 M €
13th April 2012
Booz & Company
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Name 360 Capital Partners Website www.360capitalpartners.com
Foundation Year 2007 Contact 02 36.56.09.50
Overview Targets
 360° Capital Partners is a Venture Capital firm, investing in
Innovation at full scale, in Europe and more particularly
in France and Italy
 360° Capital Partners has the following asset allocation
strategy:
- at least 85% Venture Capital investments, in Innovative
early stage companies
- up to 10% Public Companies investments, in High-Growth
small cap
- up to 5% Seed Capital investments, in high Technology
driven projects
 European start ups in high growth and innovative industries
Fund managed
Over 100 M € under management
Name Dpixel Website www.dpixel.it
Foundation Year N/A Contact info@dpixel.it
Overview Targets
 Financial and managerial support for early stage companies in
internet field
 Aspiring entrepreneurs in internet field
Results achieved
12 companies have been supported/ 9 M € fund (+7,5 M € Working
Capital)
13th April 2012
Booz & Company
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Name Banner Ventures Website www.bannerventures.com
Foundation Year N/A Contact info@bannerventures.net
Overview Targets
 Banner Ventures LLC is a newly formed global venture capital
company with offices in the U.S., Asia and Europe (Milan),
focused on helping talented entrepreneurs build exceptional
companies through human and financial capital support.
 Their objective is to bring to high-potential companies a wealth
of relationships across various industries and regions.
 Aspiring entrepreneurs or young companies interested in
knowledge and capital support
Fund manage
Name Zernike Meta Ventures Website www.zernikemetaventures.com
Foundation Year 1987 Contact info@zernikemetaventures.com
Overview Targets
 Zernike Meta Ventures is an holding company specialized in
finance for innovation and new businesses creation, it is an
Italian-Dutch joint venture between Zernike Group and META
Group
 ZMV consists of a team of professionals who provide investee
companies with an extensive network of contacts, advice for the
procurement of any additional financial resources, the
identification of managerial and professional expertise, and
support service for accelerating the commercialization of
products through the available global network
 Zernike manages also 3 regional funds
 Small companies interested in founding a network
 Aspiring entrepreneurs in innovative fields
Companies in portfolio
5 companies in portfolio
13th April 2012
Booz & Company
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The Innovation System in Italy
A Call for Action
Innovation Players: Who’s who
13th April 2012
Initiatives
Incubators/Technological Parks
Venture Capital
Public Association
Booz & Company
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Name Italian Angel for Growth Website www.italianangels.net
Foundation Year 2007 Contact 02 76022952
Overview Targets
 IAG aims to finance industrial projects during early-stage
presenting a high level of innovation and potential for success,
to realise a profitable exit for the Angels in about 5 years.
 Through the funding supports entrepreneurship, innovation and
research in Italy by helping to promote sustainable development
in the long term.
 Start ups companies in any sectors where they have at least one
expertise
Results achieved
14 companies in portfolio
Name Techno Seed ICT incubator Website www.friulinnovazione.it
Foundation Year 1999 Contact 0432.629911
Overview Targets
 Techno Seed incubator offers the opportunity to test a new
business idea before starting a new enterprise and to reduce
costs and administrative difficulties related to its launch.
 Techno Seed selects innovative ideas based on Information and
communication technology (ICT) and provides assistance
including business plan, testing the idea’s eligibility, finding out
funds and financial opportunities, setting up and launching a
new enterprise
 Once the new enterprise has been set up, it could have an area
equipped at the Science and Technology Park to host the start-
up (up to 3 years) as well as the assistance of qualified
consultants and financial supports.
 Aspiring entrepreneurs in the ICT sector interested in starting
business in Friuli region
Incubated companies
15 companies
13th April 2012
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Name Piemonte High Technology Website www.piemontech.it
Foundation Year 2005 Contact info@piemontech.it
Overview Targets
 Venture Capital with the aim of invest in the most innovative
companies in Piedmont with investments in the range of
100.000-400.000 €
 Innovative companies located in Piedmont with new technologies
able to give them a competitive advantage
 Main industries of interest:
– ICT
– Biotechnology
– Advanced mechanics
– Energy
– Innovative services
Results achieved
Piemontech has actually 10 companies in its portfolio
Name IMAST Website www.imast.biz
Foundation Year N/A Contact 081 5519586
Overview Targets
 IMAST realizes an integrated system of research, high
education, and technological innovation. It fosters the
development of knowledge as well as innovative application of
products and technologies within Campania region.
 IMAST integrates the public and private research. It assures the
transfer of research results to the enterprises. Its aim is to
improve the results, to spread information to the SMEs and to
encourage the start-up of new enterprises. It manages high
education projects in order to satisfy the growing demand for
new professional figures.
 Young people interested in growing professionally in a dynamic
technological field
 Companies looking for innovative initiatives
 Researchers interested in working in a challenging and
international environment
 Aspiring entrepreneurs in the field of polymeric and composite
materials
Results achieved
2 start ups have been launched
13th April 2012
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Name Invitalia Website www.invitalia.it
Foundation Year 2007 Contact
Overview Targets
 INVITALIA Agenzia nazionale per l'attrazione degli investimenti e
lo sviluppo d'impresa S.p.A. is a special-purpose undertaking
established at central government level with the mission,
especially with regards to the Southern regions of the country, of:
– foster the attraction of high-quality foreign investments, as
a contribution to the overall development of the country's
economic and production system
– develop industrial and entrepreneurial innovation and
competitiveness in the production sectors and regional
systems
– promote the competitiveness and potential for attraction of
the regions concerned
 Aspiring entrepreneurs interested in starting business in Italy
 Investors interested in investing in Italian companies
 Companies looking for human or financial support
Results achieved
13th April 2012
Name BIC Lazio Website www.biclazio.it
Foundation Year N/A Contact 06 803 680
Overview Targets
 BIC Lazio is an in house providing company of Regione Lazio
with the aim of:
– Spread entrepreneurial culture within the region
– Boost entrepreneurial initiative above all in innovative
sector
– Promote collaboration among companies
– Promote local development
 Aspiring entrepreneurs interested in starting business in Lazio
 Companies located within the region
Results achieved
Booz & Company
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Name BAIA Website www.baia-network.org
Foundation Year 2006 Contact info@baia-network.org
Overview Targets
• BAIA (business association Italy America) is a business network
created by and for entrepreneurs, managers, and professionals
operating between Italy and the US. As a nonprofit, BAIA is a
collaborative organization open to new members and focused
on promoting innovation.
 Entrepreneurs, managers, professionals and start uppers looking
for creating a network among
Results achieved
Name Agenzia per l’innovazione Website www.aginnovazione.gov.it
Foundation Year N/A Contact 02.8515.5063
Overview Targets
 The Agency for the Promotion of Technologies for Innovation is
Italy's national innovation agency and was established with the
goal of enhancing the small and medium size enterprises and
industrial districts competitive potential by means of innovative
technologies and processes
 Helping Italian ministries and government to get public funds and to
foster economic and innovation growth
 They works to achieve best results in order to improve Italian
economy
Fund managed
13th April 2012
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Name Italian Consulate Boston Website www.consboston.esteri.it
Foundation Year N/A Contact 722-9201/02/03
Overview Targets
 A special section of consulate offers specific services in order to
foster and assure the best results in terms of encouraging
entrepreneurs and officials from U.S. and from Italy to tighten
and promote trade and business relationships.
 Italian entrepreneurs and companies interested in promoting Italian
products and services in Boston area
Results achieved
Name Italian Consulate San Francisco Website www.conssanfrancisco.esteri.it
Foundation Year N/A Contact (415) 292-9200
Overview Targets
 A special section of consulate offers specific services in order to
foster and assure the best results in terms of encouraging
entrepreneurs and officials from U.S. and from Italy to tighten
and promote trade and business relationships.
 Italian entrepreneurs and companies interested in promoting
Italian products and services in SF area
Results achieved
Name Italian Consulate New York Website www.consnewyork.esteri.it
Foundation Year N/A Contact 212 737-9100
Overview Targets
 A special section of consulate offers specific services in order to
foster and assure the best results in terms of encouraging
entrepreneurs and officials from U.S. and from Italy to tighten
and promote trade and business relationships.
 Italian entrepreneurs and companies interested in promoting Italian
products and services in the Tri-State Area
Results achieved
13th April 2012
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13th April 2012
Name American Chamber of commerce Website www.amcham.it
Foundation Year N/A Contact 02 87 21 21 03
Overview Targets
 They provide support to internationalization of Italian companies
by providing different services including:
– Business analysis
– Commercial services
– Legal and fiscal assistance
 Italian companies looking for expanding their activities overseas
Results

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Italian International Growth Agenda ( 13 apr. 2013)

  • 1. Rome, 13th April 2012 Italian International Growth Agenda Who’s Who in the Start-Up Segment
  • 2. Acknowledgments  This document would not have been possible without the support of many players  The Italian Business & Investment Initiative wishes to express its gratitude to: – BAIA, Consiglio Nazionale delle Ricerche – CNR, dPixel, Fondamenta SGR, Innogest SGR, Intesa Sanpaolo Start-Up Initiative, Mind the Bridge, University of Insubria, Wind Business Factor And to its national sponsors: – Alitalia, Booz & Company Italia, Enel, Enel Green Power, Eni, Fininvest, Generali, Intesa Sanpaolo, Invitalia, Mediaset, Wind And to its international sponsors: – Booz Allen Hamilton, Freeman & Spogli, Method Investments & Advisory, McDermott Will & Emery LLP And to its partners: – American Chamber of Commerce, Associazione Laureati LUISS, Consulate General of Italy New York, Eni, Fondamenta SGR, Fulbright BEST, Italia Camp, Italian Cultural Institute New York, Italia Trade Commission, Kaminsky Partners, Kanso, M31, NIAF, NOVA, ReedSmith, SVIEC, US Embassy 1
  • 3. Scope of this document  This document’s objective is to become a census registry of “Who’s Who” in Italy in the vital sector of high-tech start-up’s eco-system  It will identify and summarize each player: universities, incubators, accelerators, financial players, scholarship providers, domestic and international institutions and that provide support in this space  It is a living document  Players that wish to be represented should kindly send information to the following e-mail: – info@italianbusiness.org – Information required: Entity and URL address 2
  • 4. 3 The Innovation System in Italy A Call for Action Innovation Players: Who’s who
  • 5. The Italian innovation system: 4 poles 4 Incubation Funding CERN CNR Laboratories MIUR Incubators TI Lab R&S centres Industrial districts Pirelli Lab Business Angel Private Equity Venture Capital FDI Banks Corporate Spin Off ERC/ FP7ENEA University Business Finance Public Funds/ grants IB&II Seed ILLUSTRATIVE Agenzia Innovazione Min. Difesa ASI Scada Lab (Enel)
  • 6. Italy can leverage many resources 5 KEY DATA University Business Finance Public  16.000/yr graduates in scientific and engineering degrees  10.000 researchers  2.500 new patents / yr  430.000 papers published from 2001 to 2011  5.150.000 total citations from 2001 to 2011  38% of R&D funds come from private sectors  89 million VC investments € in 2010  1000+ fundraising requests / yr  106 deals in 2010  O,56% of GDP spent on R&D  60+ active incubators  59 bln € of European funds available (2007-2013)  0,55% of GDP spent on R&D  200 industrial districts  14% of companies receive public funds Innovation resources Sources: PNR-MIUR 2011-2013, ISTAT
  • 7. 6 University support to innovation is growing # of Graduates in Sciences and Engineering Sources: ISTAT-Università, PNR-MIUR 2011-2013, Essential Science Indicators Thomson Reuters 2011, Netval report 2011, Booz & Company analysis +114% 2009 2,541 2005 1,189 # of Patents of Italian Universities +54% 2010 Gap vs. best practices 27-38k 15,971 2007 10,393 Note: best practices based on Japan , EU-27 (min level) and EU-3 (UK, France, Germany) University Finance Public Business 1 2 3 4
  • 8. Italian universities are ranked in the “top-10” for knowledge production 7 Citations per Million Gross Expenditure in R&D High Number of Citations Per Million Gross Expenditure in R&D Show that Italian Scientists Achieve Good Results on a relatively Low Budget Sources: PNR-MIUR 2011-2013, Essential Science Indicators Thomson Reuters 2011, Thomson Reuters & OECD, Analysis: Evidence, Booz & Company analysis 179 233 251 260 293 340 390 410 597 Australia Japan Canada Spain France Germany Italy UK China USA 1,129 # of Publications on R&D Expenditure Top 10 Countries for # of Publications (2001-2011) / R&D expenditure in 2011 as % of GDP University Finance Public Business 1 2 3 4 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 0.5 0.0 CitationsPerMillionGERD(rebased) 2.0 1.5 1.0 UK USA Canada France Germany Italy Japan China
  • 9. Brain export: a real challenge! % of Graduates in Qualified Work PositionsBrain Export - Top Italian Scientists who are Working Abroad - Sources: ISTAT-Università, PNR-MIUR 2011-2013, top Italian scientists Via Academy H index March 2012, Booz & Company analysis, Italy 2010 17% Italy 2004 19% EU-27 2010 22% UK 2010 30% 8 Top 20 40% Top 10 60% Top 50 25% University Finance Public Business 1 2 3 4
  • 10. Risk Capital: from start-up to international development 9  Good historical returns of top funds: Venture needs to be part of an investor’s portfolio  Expansion Capital offers an attractive, mainstream asset for an investor portfolio  We believe that focusing on innovation based seed, early stage expansion investments will provide higher returns in the next years of likely subdued macroeconomic climate (*): Venture Capital and Expansion Source: EVCA Courtesy of Innogest SGR University Finance Public Business 1 2 3 4 Seed Capital €20k - €250k per initial deal Prototype Stage Early-Mid Stage €250k - €2M per initial deal Pre-Revenues Stage Expansion Capital €2M - €10M per deal Commercial Expansion European Funds Irr Last 30 Years 10,8% 12,9% 15,2% 15,6% S&P 500 Balanced(*) Top Quartile Expansion Top Quartile Venture Capital Top Quartile
  • 11. Venture Capital in Italy 10 VC Investment Trend In Italy Number of Companies VC Investments in Italy (2010) Sector Source: AIFI Courtesy of Innogest SGR University Finance Public 1 2 3 Business 4 Manufacturing Industrial Services Other Utilities Electronics Media Med-Tech 17,3% 14,6% 3,9% 5,1% 5,5% 0,8% 1,2% 1,2% Biotech 21,3% 0,4% 0,4% Agriculature Retail Automotive Aerospace Chemicals Communications Other Services Financial Services Constructions Logistics 0,4% 1,6% Computer 20,5% 2,4% 1,6% 0,8% 0,4% 0,8% 2009 2010 41 (52%) 38 (48%) 106 55 (52%) 79 51 (48%) 30 (34%) 2007 88 2008 88 58 (66%) 66 (75%) 22 (25%) 2006 62 38 (61%) 24 (39%) High TechNon High Tech
  • 12. Venture Capital investments’ room for growth 11 VC Investments in Italy (M€)1 Sources: AIFI, Booz & Company analysis 1) Total investments are calculated by taking also into consideration regional investment in local SMEs 89 28 +218% 20102006 University Finance Public 1 2 3 Greece 0,01% Italy 0,01% Poland 0,01% Portugal 0,04% Germany 0,04% Switzerland 0,05% Europe 0,05% France 0,06% Spain 0,07% Ireland 0,09% Scandinavia 0,09% UK 0,09% Sweden 0,15% USA 0,20% Israel 1,03% VC Investment as % of National GDP 62 106# of deals Business 4
  • 13. Italian active VCs invested over ~450M€ in ~120 deals 12 NOT EXHAUSTIVE SELECTED EXAMPLES University Finance Public 1 2 3 8 17 2525 29 3637 55 6365 80 TT Venture*Innogest Atlante** H FarmEporgenDpixelVertis SGR*360 Capital Partners Aladinn (Friulia) GenextraNext (Finlombarda) Principia Active Venture Capitals Invested Capital – M € # of Firms in Portfolio Venture Capital created following 2008 n/a 14 15 14 n/a 11n/a 231119 Sources: Interviews, company website, AIFI, Booz & Company analysis * Funds participated by Fondamenta sgr, which includes also Annapurna; ** The entire capital covers three different funds 14 11 Total Capital 100M€, including international investments Business 4 9
  • 14. EU public funds for innovation & training: an untapped resource 13 National Strategic Framework 2007-2013 – Objectives of convergence and competitiveness - Spent, invested and total resources available (bln €, 2010) - Sources: State Accounting, Booz and Company analysis University Finance Public 1 2 3 FSE (social European fund) FESR (European fund for regional development) Gap 7.3 10.9 4.8 5.5 Allocated 44.9 2.1 34.0 2.5 Spent 7.6 59.8 44.3 15.5 Budget Business 4 Note: These funds are not dedicated only to R&D investments
  • 15. Italian regions R&D funds utilization University Finance Public 1 2 3 Examples  Toscana: Fondo Toscana innovazione, owned by the region with the aim of investing in start ups and existing companies operating in innovative fields and located in Toscana - Toscana also exploited FESR funds for support stage and internship outside Italy  Lazio: Filas is the Financial Development Agency of the Regione Lazio, is part of a network of agencies created by the regional government to operate in the field of economic development. Filas' mission is to guide the economy of Lazio and promote development and innovation, especially through the adoption of new technologies.  Lombardia: NEXT is a closed-ended fund of funds, subscribed by institutional investors, created by Regione Lombardia with the aim of developing on the territory of the region a venture capital market focused on innovation and development of new technologies  Piemonte: Piemontech is a Venture Capital with the aim of invest in the most innovative companies in Piedmont with investments in the range of 100.000-400.000 €  Campania: – IMAST is the holding company of the district of engineering of polymeric and composite materials of Campania region – Campania Innovazione is a regional agency with the aim of promoting R&D and innovation and of boosting entrepreneurship and technological transfer within the region European Fund Distribution 2007-2013 for Research 14 Sources: PNR-MIUR 2011-2013, Booz & Company analysis 25% 8% 10% 11% Others Piemonte Toscana Lombardia Emilia Romagna 24% 22% Lazio Business 4
  • 16. 15 Example : Toscana exploited Fondo Sociale Europeo (FSE) to finance the Fulbright Best scholarships Scholarship Breakdown of past years (up to 2012) Italian regions and the Fulbright BEST Opportunity Sources: Fulbright Best program, Booz & Company analysis University Finance Public 1 2 3  Each region is responsible for entrepreneurial programs financed by EU through FSE fund; part of the fund is dedicated to aspiring entrepreneurs  Regional offices stipulate an agreement (convenzione) with the US -Italy Fulbright Commission defining the number of scholarships’ donations  The Us-Italy Fulbright Commission issues a “bando” every year  Applicant: graduate or PhD under 35 years of age with a high-tech business proposition files an on line application to the Us-Italy Fulbright Commission  The Us-Italy Fulbright Commission runs the selection process and identifies the winners  The winners will spend an academic year in the Us combing class work on entrepreneurship with hands-on experience on how to set up and run a start-up  Fulbright BEST will provide a 6 month mentoring period in Italy to support each to set up his/her company  Detailed information: http://www.fulbright.it/it/borse-di- studio/italiani/studio/programma-fulbright-best/programma-fulbright-best Business 4 Grantee Origin 46 11 10 9 4 2 2 2 2 1 11 1 Toscana Emilia Lombardia Lazio Sardegna Veneto Campania Trentino Liguria Puglia Piemonte Umbria
  • 17. Start Ups: the innovation engine 16 EXAMPLE University Finance Public Business 1 2 3 4 Successful SMESuccessful Start-Ups Sources: Companies’ websites, AIFI
  • 18. Italian Start Ups are mainly “digital” with early stage funding 17 University Finance Public 1 2 3 Sectors 25,2% ICT Bio/Lifescience 4,5% 60,4% 9,9% Cleantech Web/ New media 29,0% 8,0% Seed 15,0% 40,0% Venture Capitals 4,0% Bootstrapping Grants Business Angels 4,0% Others Sources of Funding 39,0% Humanistic 61,0% Scientific Education of Founder / Entrepreneur Sources: Mind the Bridge Survey 2011 Business 4
  • 19. Incubators and accelerators are playing an pivotal role 18 University Finance Public 1 2 3 InitiativesIncubators/Accelerators/Technological parks Business 4
  • 20. 19 The Innovation System in Italy A Call for Action Innovation Players: Who’s who
  • 21. Country scale is not critical in innovation 20 Sources: Booz & Company analysis, INSEAD, Global Innovation Index 2011, International Monetary Fund 41 54545455555656565757585960 62 64 ItalyNew Zealand IsraelIrelandGermanyIcelandUKNetherlandsCanadaUSADenmarkFinlandHong Kong SingaporeSwedenSwitzerland 1 2 3 4 5 6 7 8 9 10 11 12 3513 14 15 GDP 2010 Bln $ 528 459 223 224 239 310 14 527 1 577 781 2 250 13 3 286 207 217 140 2 055 Global Innovation Index 2011 -Booz & Company, Insead-
  • 22. For example, Israel is a best practice with an integrated approach to boost entrepreneurship 21 Sources: Booz & Company Analysis, “Israele, terra promessa dell’innovazione” by Simone Botti 2005, IVC report 2011  Agency for technology transfers owned by University with the aim of sell intellectual property  Office of Chief Scientist (OCS): to fund industrial R&D and to simplify the Venture Capital market  Yozma: private program for the investment in Venture Capitals funds and Start Ups  Foreign funds: Israeli foreign branches of Venture Capitals allow fundraising, especially in US Insert Text Here FinanceInsert Text Here Corporate University/ R&D Centres Public Funding Knowledge/ Policy Taxes Knowledge/ Intellectual property Policy Royalties Profits Capitals TT Agency Yozma OCS Foreign funds Israel Country Innovation Plan
  • 23. Israel innovation results are truly impressive 22 Italy 1.1% Israel 4.2% 2,14 1,26 +70% 20112010 R&D / GdP ratio VC Investments -bln $- Sources: Booz & Company Analysis, IVC report 2011  Ranked 1st for the number of start ups per capita  Ranked 1st for the R&D expenditure as % of GDP PPP (4,2%)  Ranked 1st for the number of engineers every 10.000 inhabitants (150)  Ranked 3rd behind the US (4836) and Canada (152) for the number of companies listed on Nasdaq (57 companies)  Strong entrepreneurial culture (bottom-up) and government investment in R&D and infrastructure (top-down)
  • 24. Israeli Venture Capital activities are highly developed also in early stage funding … 23 Sources: Booz & Company Analysis, IVC report 2011 seed 5,0% early stage 26,0% mid stage 42,0% late stage 27,0% Breakdown of capital raised per stage Overview  There are 70 active Venture Capitals investing in Israel  75% of capital comes from foreign Venture Capitals  796 M $ of capital flowed to Israeli Venture Capitals in 2011 0,8 0,0 0,3 1,1 1,3 0,8 1,5 20062005 2007 2008 20102009 2011 Capital Raised by VC Funds by Vintage Year -$B- 2008 2009 788 1,122 2007 1,072 2,075 2010 686 1,758 415 1,262 707 1,287 896 2011 535 1,604 366 2,139 Capital Invested in Israeli High-Tech Companies -$M- Foreign & OthersIsraeli VCs
  • 25. … and highly diversified 24 Internet 25,0% Communications 15,0% Software 23,0% Cleantech 7,0% 4,0%Semiconductors 16,0% Life Sciences 10,0% Other Deal value $MNumber of deals 898 819 531 803 523 376 0 5 10 15 20 Deals$M 200 0 Q2/10 Q3/10 Q4/10 632 Q1/11 1,000 Q2/11Q1/10 739 400 Q3/11 Q4/11 600 800 Private Equity deals by quarter -$M- Portfolio of Most Active Venture Capitals in Israel -2010- Most Active Venture Capital Funds in Israel -ranked by # of first investment in 2010- Rank Management Company Capital Managed ($M) Total First Investments 1 Evergreen 648 6 2 Battery N/A 5 Pontifax 118 5 3 Gemini 696 4 Genesis 618 4 Carmel 608 4 Cedar 325 4 4 Bessemer N/A 3 Pitango 1340 3 Sequoia Israel 580 3 Magma 190 3 Aviv 77 3 Sources: Booz & Company Analysis, IVC report 2010-2011
  • 26. The innovation value chain 25 Start Up Legal practices Fund research Business Plan PrototypeIdeaResearch Expansion Research departments Incubators Advisors University Business Public R&D Centres MIUR/ECR Business Angel/Seed Venture Capital Finance 1 2 3 4 University spin off Private Equity FESR Scholarship Grants Accelerator Technological Park
  • 27. The eco-system 26 University & Research Finance Public Business Research Departments Advisors Technological Parks Italian funds Venture Capitals Business Angels/Incubators Incubators R&D labs & Accelerators European 1 2 3 4
  • 28. Booz & Company 27 The Innovation System in Italy A Call for Action Innovation Players: Who’s who 13th April 2012 Initiatives Incubators/Technological Parks Venture Capital Public Association
  • 29. Booz & Company List of Italian Innovation Initiatives Regions Student Graduate Researcher Entrepreneur Start Ups SME Italian Business & Investment Initiative Fulbright Best Wind Business Factor Mind the Bridge Intesa Sanpaolo Start Up Initiative Forzaidea Italia Camp Italian Start Up Scene CNR spin-off CNR StartCup Telecom Working Capital PNI cube Seedlab InnovAction Lab 28 13th April 2012
  • 30. Booz & Company List of Italian Incubators/Technological Parks 29 13th April 2012 Regions Student Graduate Researcher Entrepreneur Start Ups SME Tecnoparco Reteincubatori.it TIS innovation park I3P Acceleratore del Politecnico di Milano M31 Digital Magics H Farm Incubatore di Navacchio Tecnopolis PST CISI scrl Triboo R&D Incubator Innovami We Techoff Istituto Superiore Mario Boella Almacube PST Valle Scrivia Creaimpresa
  • 31. Booz & Company List of Italian Venture Capitals 30 13th April 2012 Regions Student Graduate Researcher Entrepreneur Start Ups SME Innogest Eporgen Genextra Mp Venture Alice Ventures Atlante Ventures Principia Fondamenta SGR 360 Capital Partners Dpixel Banner Ventures Zernike Meta Ventures
  • 32. Booz & Company List of Italian Public Association Regions Student Graduate Researcher Entrepreneur Start Ups SME Italian Angel for Growth Techno Seed ICT Incubator Piemonte High Technology Imast BIC Lazio Invitalia BAIA Agenzia per l’Innovazione Italian Consulate New York Italian Consulate Boston Italian Consulate San Francisco American Chamber of Commerce 31 13th April 2012
  • 33. Booz & Company 32 The Innovation System in Italy A Call for Action Innovation Players: Who’s who 13th April 2012 Initiatives Incubators/Technological Parks Venture Capital Public Association
  • 34. Booz & Company Name Italian Business & Investment Initiative Website www.italianbusiness.org Foundation Year 2010 Contact info@italianbusiness.org Overview Targets  IB&II is committed to promote Italy as an attractive investment for U.S. venture capital firms, specifically in the country’s talented SME sector through a three pillared approach: – Provide a physical forum to connect the demand of capital to supply and ideas between the U.S. and Italy – Promote and sponsor academic research and insight on the Italian economy, and offer recommendations to policy makers on how to improve Italian economy – Support the development of an online platform containing information about the Italian economy and market.  Italian innovative companies that are looking for capitals and know-how in order to reach the objective of expansion. Results achieved In 2011, 35 companies have been presented to a community of 500 investors Name Fulbright Best Website www.bestprogram.it Foundation Year 2006 Contact 06 83057613 (Enel Green Power) Overview Targets  Scholarship for Italian researchers and graduates for a training program in US with the objective of stimulate entrepreneurship and create new start ups in Italy. Allow Italian brightest mind to spend a training period in US in which they can: – Deepen entrepreneurship topics in the best Business Schools – Experience a work period in H-tech companies – Come into contact with US investor community  Italian regions can activate FSE funds in order to provide FB scholarships. Toscana is an excellent example of how exploit European funds for FB program (11 scholarships in the past editions)  PhD students  Graduates  PhDs  Public institutions (President of Regions) Results achieved In 5 years, FB has launched 19 new start ups 13th April 2012 33
  • 35. Booz & Company Name Wind Business Factor Website www.windbusinessfactor.it Foundation Year N/A Contact Costanza Esclapon/Alessandra Bianchini Overview Targets  Web platform for aspiring entrepreneurs and start uppers  Wind business factor competition 2012: – The best 10 business idea will have the opportunity to attend a mentorship program of 4 weeks – For the best 3 business ideas and projects, WBF will give them the chance to meet Venture Capitals, Business Angels and successful entrepreneurs. – The winner of the competition will gain a training trip to Silicon Valley and Israel  Aspiring entrepreneurs with a business project or entrepreneurs of new start ups (founded after January 2011) who: – Invented new product or service – Found a practical use of new technology – Developed a high level of know-how – Found innovative organizational or market solutions Results achieved 6500 persons registered 3500 business ideas and start ups supported 13th April 2012 34 Name Mind the Bridge Website www.mindthebridge.org Foundation Year 2007 Contact information@mindthebridge.com Overview Targets  Foundation that runs every year a business plan competition with the purpose of selecting the best innovative business idea among Italian participants  Selected start ups will have the opportunity of attend training courses in Italy and experience a mentoring program located in the Silicon Valley  Objective is to create an Italian entrepreneurial ecosystem open to internationalization and growth  Young Italian talents with an innovative business idea Available Funds Prize of 400.000 €
  • 36. Booz & Company Name Intesa Sanpaolo Start Up Initiative Website www.startupinitiative.com Foundation Year N/A Contact startup@intesasanpaolo.com Overview Targets  Provide the Arena meeting to the best high-tech start ups where – Meet international investors – Meet potential partners  Industries: – Biotechnologies, life science, healthcare and medical devices – ICT, electronics and automation, Mobile – CleanTech and renewable energies – Nanotechnologies and high performance materials – Social Ventures  Cross Technologies Vertical: – Agri-Food, Fashion Tech and Design Building And Construction, Automotive  High-tech start ups looking for fundraising  Venture capitals/ Business Angels interested in start up opportunities  Industry players interested in new technology to apply in their businesses  Incubators, accelerators can provide their help and know-how Results achieved  1.000 projects screened and potential start ups contacted  250 have entered the training program  165 projects have had the opportunity to meet 2.900 among Venture Capitals, Business Angels, Corporate and private investors in 5 Countries Name Forzaidea (Eur&ca) Website www.forzaidea.it Foundation Year N/A Contact 02.48015098 Overview Targets  Website with the aim of helping aspiring entrepreneurs or start ups to get public funds or to find a partner for their business  Aspiring entrepreneurs  Start ups Results achieved 13th April 2012 35
  • 37. Booz & Company Name Italia Camp Website www.italiacamp.it Foundation Year 2010 Contact 06.85225412 Overview Targets  Association with the objective of creating a network among national and international universities with the aim of realize the best ideas regarding all fields: – Research, science and technology – Energy, infrastructure and environment – Economics, finance and market – Politics, Institution and public administration – Job, enterprises, culture and society  Association works through BarCamp system (from Standford university): collaborative conference without any type of hierarchy, in which each member is directly involved  Currently there are 4 BarCamps (Rome, Lecce, Bruxelles, Milan)  Professionals  Researchers  Students  Entrepreneurs Results achieved 13th April 2012 36 Name Italian Start Up Scene Website www.It.startupscene.org Foundation Year N/A Contact Only website Overview Targets  Social network with the aim of keep in contact start uppers, aspiring entrepreneurs and Venture Capitals  Startuppers  Bloggers  Aspiring entrepreneurs  Investors Results achieved
  • 38. Booz & Company Name CNR StartCup Website www.startcup.cnr.it Foundation Year 2010 Contact 06 4993 2617 Overview Targets  Promote entrepreneurship within research institutes through a national competition (Working Capital and PNI)  Bridge the gap between laboratories of research and the implementation of solutions in real businesses  Industries: – ICT, social innovation – Agro, food, cleantech – Industrial  CNR researchers or employees  Researchers or employees from other research institutes (CRA, ENEA, INAF, INFN E ISS) Results achieved 30 business ideas have been selected in 2010 edition and one of those has won PNI 2010 Name CNR spin-off Website www.cnr.it/sitocnr/ilCNR/Innovazio ne/Spinoff.html Foundation Year N/A Contact Daniela.lanoce@cnr.it Overview Targets  To boost CNR researchers to create spin-off from the research activity through training activity focused on developing entrepreneurial skills  Industries: – Nanotechnologies and Microelectronics – Biomedical, Biotechnology and Pharmaceutical – Environment – ICT  Management consulting is provided by Rete Venture, a consulting company owned by CNR  Financial aid is provided by Principia sgr, VC for corporate spin-off  CNR researchers  Winner of CNR grants Results achieved 52 spin off has been created 13th April 2012 37
  • 39. Booz & Company Name Telecom Working Capital (dpixel) Website www.workingcapital.telecom.it Foundation Year 2009 Contact Info.workingcapital@telecomitalia.it Overview Targets  Telecom Italia project aims to sustain young Italian talents in innovative fields and to boost the creation of start ups by providing them with different supports  Young talent with innovative idea  Brilliant students from Italian university to develop a start up project Results achieved  Research contract and tutoring for 41 research projects  Incubator contracts for 30 start up projects  36 early stage assisted companies Name PNI cube Website www.pnicube.it Foundation Year 2003 Contact 05.14200349 Overview Targets  Association that groups together the academic incubators and Italian academic business plan  Two initiatives: – National Award for Innovation – Start Up of the year  Objectives: – Spreading the culture of entrepreneurship among students and researchers of our universities and selecting the best business ideas – Provide an incubator, which supplies all services to make these companies successful  Aspiring entrepreneurs  Reward the young h-tech enterprises achieving the best market success Available Funds Prize for the Start Up of the year: 10.000€ 13th April 2012 38
  • 40. Booz & Company 13th April 2012 39 Name Seedlab (TT advisor) Website www.seedlab.it Foundation Year N/A Contact TT advisor Overview Targets  Entrepreneurship program that provides micro-seed funding and best-in-class training and mentorship to help promising start ups succeed  Learn basics of management from experienced mentors  Create a network with investors & industrial partners  Give the opportunity to take part to a business competition with the prize of business developing trip to Silicon Valley  Young innovators with: – Innovative, high quality idea – Excellent cv  Investments in: – Patentable technology – Digital technology Results achieved Name InnovAction Lab Website www.innovactionlab.org Foundation Year 2010 Contact Overview Targets  Non profit association with the aim of teach to University students how to approach with investors and Venture Capital funds  InnovAction Lab organizes lessons and seminars with a practical approach in order to boost entrepreneurship  University students interested in understanding the drivers of a successful business plan.
  • 41. Booz & Company 40 The Innovation System in Italy A Call for Action Innovation Players: Who’s who 13th April 2012 Initiatives Incubators/Technological Parks Venture Capital Public Association
  • 42. Booz & Company 41 Name Reteincubatori.it Website www.reteincubatori.it Foundation Year 2009 Contact N/a Overview Targets  Start up services: – Idea analysis and implementation – Management, financial, patent consulting – Marketing and promotion services – International network and research laboratories – Network of Venture Capitals and Business Angels  Aspiring entrepreneurs in Milan area with innovative ideas  Existing companies interested in innovative start ups  Venture capitals and Business Angels interested in investing in innovative start ups Results achieved 73 assisted companies, 5 incubators, 310 employees, 25 M € annual revenues Name Tecnoparco Website www.tecnoparco.org Foundation Year 2005 Contact 0371.4662200 Overview Targets  Parco Tecnologico Padano is the engine of the Lodi Cluster which hosts many organizations involved in the agro-biotech sector. The Park also hosts an enterprise Incubator which makes Lodi one of the main European Agro-Biotech clusters  The mission of PTP is to build a business-oriented research network in agro-biotech capable to promote the creation of start-up and spin-off companies in the agro-food sector by offering know-how, incubator facilities and administrative services.  Aspiring entrepreneurs in the agro-biotech sector  Existing companies in the agro-food sector Results achieved 13th April 2012
  • 43. Booz & Company 42 Name I3P Website www.i3p.it Foundation Year 1999 Contact 010.0905127 Overview Targets  Incubator of Politecnico di Torino (the biggest in Italy) with the aim of help young talent to create new start ups  TreataBit: from 2011, special incubator for start ups in digital fields  Entrepreneurs  Aspiring entrepreneurs  Investors interested in innovative start ups with high growth potential  Managers who are looking for collaborate with high potential companies Results achieved Name TIS innovation park Website www.tis.bz.it Foundation Year 1998 Contact 0471 068000 Overview Targets  Center and driver for innovation, cooperation and technology transfer for all South Tyrolian players of the innovation system, especially for existing companies  They provide patent strategy, product development and launch, research, technological analysis and networking in order to make companies of the area more successful  Existing companies located in the South Tyrol area Current portfolio Tis has actually 15 companies in its portfolio 13th April 2012
  • 44. Booz & Company 43 Name Acceleratore del Politecnico di Milano Website www.ai.polimi.it Foundation Year 2000 Contact 02 2399 2991 Overview Targets  Services for incubated companies  Promotion of “Start Cup Milano Lombardia”  Organization of meetings and promotional activities  Main industries of interest: – ICT – Bioengineering – Clean Technologies – Design – Innovation services  Aspiring entrepreneurs  Start ups  Managers interested in sharing their competences  Companies interested in collaborating with the centre and with new start ups  Investors interested in participating to the capital of start ups or using the R&D structure Incubated companies 64 totally (actually 19) Name M31 Website www.m31.com Foundation Year 2006 Contact 049.7811811 Overview Targets  US based Venture Capital with the aim of connect Italian companies with US market and Venture Capital community  M31 objective is the creation and growth of innovative companies in the ICT fields  Young Italians interested in creating new businesses  Italian start ups in innovative industries (Biomed, Clean Tech, Web & digital media, ICT) interested in creating a bridge with US market and investors Managed fund 10 M € 13th April 2012
  • 45. Booz & Company 44 Name H Farm Website www.h-farmventures.com Foundation Year 2005 Contact 0422.789611 Overview Targets  H-Farm is a Venture Incubator with the aim of accelerate the development of Internet startups via a combination of seed investment and incubation services.  The Venture Incubator is a hybrid model that reflects the dual soul of H-Farm: that of Venture Capitalist and that of Incubator. As a VC they invest seed capital, granting the finance necessary for the early stage activities; as an incubator they provide a series of services to speed up the business development  Aspiring entrepreneurs and start uppers in the internet sector Current portfolio 23 companies Name Digital Magics Website www.digitalmagics.com Foundation Year 2004 Contact 02.52505.1 Overview Targets  Create an incubator for online initiatives  Provide an aid to start ups through financial, administrative, strategic, logistical, technological and marketing services as well as business management support  Seed stage companies in the internet field Available Funds 16 mln € invested 13th April 2012
  • 46. Booz & Company 45 Name Incubatore di Navacchio Website www.incubatoreimpresa.it Foundation Year 2003 Contact 050.754702 Overview Targets  the INCUBATOR, managed by Polo Navacchio spa, has been conceived and equipped to make easier the most critical stage of a company, its start- up. In the Incubator the best business ideas are selected and they are integrated into a system of relationships of orientation and support, so that they can develop and start up successfully on the market.  Service to support the birth, the starting up and the competitive development of “new companies” and spin offs in the hi-tech field  Start ups in the following industries: – Robotics/sensor – Non-destructive diagnostic – Energy/environment – Services – Electronics – ICT Incubated companies 29 companies incubated from 2003 to 2012 Name Tecnopolis PST Website www.tecnopolispst.it/ Foundation Year 2008 Contact 080.4670663 Overview Targets  Tecnopolis is a consortium with the aim of manage the activities of Technological Park of the University of Bari including: – Management of technological services – Attraction and retention of R&D centres, innovative start ups, researchers – Creation of innovative start ups and academic spin off – Technology transfer  R&D centers  Entrepreneurs  Start ups  Companies interested in training session Results achieved 13th April 2012
  • 47. Booz & Company 46 Name CISI scrl Website www.cisiscrl.com Foundation Year 2008 Contact 02.50320900 Overview Targets  CISI scrl operates in the Biotechnology-Life Sciences arena with the aim of help entrepreneurs develop their innovations into solid technologies and companies through the access to a life science incubator structure that provides a range of services and skills to help scientific entrepreneurs to develop and enhance their portfolio of projects and innovative ideas.  Entrepreneurs  Start ups  Companies in the life science industry Fund managed Name Triboo R&D incubator Website www.triboo.it/en/r-d-incubator/r-d- incubator Foundation Year N/A Contact N/A Overview Targets  Triboo Spa is a holding company operating on the Italian and international internet markets and incorporates a number of companies and services in e-commerce, Web marketing, interaction design and online advertising, offering a comprehensive range of services which includes a special incubator for web start ups  Start ups in internet fields Incubated companies 9 companies 13th April 2012
  • 48. Booz & Company 47 Name Innovami Website www.innovami.it Foundation Year 2005 Contact 0542.643970 Overview Targets  INNOVAMI sustains the creation and growth of start ups and companies in the region of Emilia Romagna through the share of knowledge and technology  Companies and start ups in the following industries: – Industrial automation – ICT – Electronics – Environment – Energy Incubated companies 15 companies Name We techoff Website www.wetechoff.eu Foundation Year N/A Contact 051 6398099 Overview Targets  We Tech Off is the new project that supports the creation of innovative enterprises in Emilia-Romagna, through the supply of services for potential entrepreneurs and technological start-ups.  The purpose of We Tech Off is to promote the entrepreneurship culture sustaining projects with strong innovative characteristics.  Aspiring entrepreneurs with innovative idea Incubated companies 36 companies 13th April 2012
  • 49. Booz & Company 48 Name Istituto Superiore Mario Boella Website www.ismb.it Foundation Year 2000 Contact webmaster@ismb.it Overview Targets  Istituto Superiore Mario Boella (ISMB) is a research & innovation center operating in the Information and Communication Technologies (ICT) domain. Founded by Compagnia di Sanpaolo and Politecnico di Torino, today ISMB relies on the technological and process competences of around 150 researchers working in close cooperation with companies, academia and Public Administration.  It plays an active role not only in devising innovative solutions, but also in their implementation and consequent developments. This approach represents a step forward with respect to technology transfer, and in this sense the evolutionary lines of European research are taken into account.  Researchers  Companies interested in collaborating with the R&D centers  Aspiring entrepreneurs or start ups interested in developing their innovative idea Projects 106 projects among completed or ongoing 13th April 2012 Name Almacube Website www.almacube.com Foundation Year N/A Contact 051.4200311 Overview Targets  AlmaCube is the Incubator of the University of Bologna , founded jointly with Fondazione Cassa di Risparmio di Bologna in Bologna and Fondazione Alma Mater to promote and sustain entrepreneurship in the local University system.  AlmaCube offers spaces and logistic services as well as relational capital through direct links to local economic and political institutions and individual actors to young start-ups.  AlmaCube does not participate financially in the start-ups hosted, but actively promotes and facilitate funding contacts and processes with professional investors  Academic projects  Only early stage start ups Incubated companies 14 companies currently incubated
  • 50. Booz & Company 49 Name PST Valle Scrivia Website www.pst.it Foundation Year N/A Contact 0131 860115 Overview Targets  P.S.T. S.p.A. is related to the promotion and the development of the Park, with the management of on site properties and with supporting the transfer of technological know-how to businesses  P.S.T. S.p.A. studies and sets up marketing strategies and aims to attract to its own site and the territory in general new national and international investments. They collaborate with the regional body CEIP to attract foreign industrial investments to the Piedmont territory  Companies and entrepreneurs interested in investing in Piemonte  Companies interested in hiring a place inside the park dedicated to R&D activity Results achieved 13th April 2012 Name Creaimpresa Website Creaimpresa.it Foundation Year 1989 Contact info@creaimpresa.it Overview Targets  Consulting services for aspiring entrepreneurs  They provide the “creimpresa kit” that is a business plan guide to success in all industries  They provide an online incubator in order to gather all kinds of information and support for starting new business  Aspiring entrepreneurs  Start up companies willing to expand their business Results achieved
  • 51. Booz & Company 50 The Innovation System in Italy A Call for Action Innovation Players: Who’s who 13th April 2012 Initiatives Incubators/Technological Parks Venture Capital Public Association
  • 52. Booz & Company 51 Name Innogest Website www.innogest.it Foundation Year 2005 Contact Overview Targets  Innogest is the most important VC in Italy. They invest in companies in early stages (less than 5 years old companies) with initial investment in the range of 200.000-2 M €  The main industries of interest are: – Advanced mechanics – New materials – Ict – Biomedical technology and appliances – Clean energy – Innovative services  Start ups and aspiring entrepreneurs in double digits growth market Managed fund 80 M € Name Eporgen Website www.eporgen.com Foundation Year 2005 Contact 0125 561000 Overview Targets  Private venture capital dedicated to seed capital investments in the area of life sciences.  Eporgen’s mission is to identify and select innovative projects in the area of life sciences, in which it invests in order to create a balanced portfolio of small start-up companies that are supported in their management and controlled by Eporgen.  Aspiring entrepreneurs and start ups in the life sciences field Managed fund 7.8 M € 13th April 2012
  • 53. Booz & Company 52 Name Genextra Website www.genextra.it Foundation Year 2004 Contact 02 3651.5110 Overview Targets  The mission of Genextra is to identify innovative research in life science and to develop novel therapies and tools by creating successful business initiatives in a sustained and long term way.  Genextra's holding structure is designed to increase the probability of success of business initiatives that become part of the Group by providing specialist management as well as financial support to a new company vehicle or an existing young start-up  Aspiring entrepreneurs and first stage companies in life sciences sector Managed fund Managed 36 M €/ available 96 M € Name Mp Venture Website www.mpventure.it Foundation Year 2001 Contact 0552498348 Overview Targets  MPVENTURE’s investment policy is focused on the Italian mid- market.  The targets of the closed end funds managed by MPVENTURE are Italian companies with development and internationalization plans. Also companies in which generational handover and changes in the ownership structure create opportunities of reorganization of the business are preferred targets.  Target companies are characterized by high potential value creation thanks to business model, market positioning, advanced technologies, brand leadership and world-wide development strategies Managed fund 86 M € (Mp venture fund 3) 13th April 2012
  • 54. Booz & Company 53 Name Alice Ventures Website www.aliceventures.it Foundation Year N/A Contact info@aliceventures.it Overview Targets  Leading venture fund management firm in Europe and Israel, with two most significant hubs of activity – Israel and the UK  The Alice Ventures trademark is its multinational and multidisciplinary team of seasoned professionals with strong real-life experience from the medical, financial, venture capital, semiconductor and telecommunications fields  Start uppers looking for defining strategies  Companies interested in expanding their activities  Companies looking for recruiting new executives  Companies facing with fundraising issues Managed fund 170 M € Name Atlante Ventures Website www.atlanteventures.com Foundation Year N/A Contact atlanteventures@intesasanpaolo.com Overview Targets  Seed, promoted by Intesa Sanpaolo group, invest in innovative companies with high growth potential, with particular attention to those belonging to the high technology sectors  Atlante provides to SME with: – Required capital for growth – Business and managerial expertise developed by the Fund – Networking opportunities allowed by being part of Intesa Sanpaolo Group  High growth potential SME and Startups  Atlante Ventures Mezzogiorno is dedicated to companies (startups and SME) developing ICT investments in Southern Italy Managed fund 55 M € under management 13th April 2012
  • 55. Booz & Company 54 Name Principia Website www.principiasgr.it Foundation Year N/A Contact 02 36589750 Overview Targets  Principia sgr manages 2 venture capitals funds with the aim of support with managerial and financial aids, Italian start ups and companies.  Aspiring entrepreneurs and start uppers with innovative idea and a good team Managed fund 63 M € Name Fondamenta SGR Website www.fondamentasgr.com Foundation Year 2000 Contact 02.7214.7746 Overview Targets  Holding company with different funds under management including 2 venture capital funds: – Vertis sgr: venture fund focused on early stage and seed financing – TT Venture: venture fund dedicated to technological transfer and to innovative researches  Existing companies  Start ups  Researchers  Academic/Corporate spin off Managed fund 90 M € 13th April 2012
  • 56. Booz & Company 55 Name 360 Capital Partners Website www.360capitalpartners.com Foundation Year 2007 Contact 02 36.56.09.50 Overview Targets  360° Capital Partners is a Venture Capital firm, investing in Innovation at full scale, in Europe and more particularly in France and Italy  360° Capital Partners has the following asset allocation strategy: - at least 85% Venture Capital investments, in Innovative early stage companies - up to 10% Public Companies investments, in High-Growth small cap - up to 5% Seed Capital investments, in high Technology driven projects  European start ups in high growth and innovative industries Fund managed Over 100 M € under management Name Dpixel Website www.dpixel.it Foundation Year N/A Contact info@dpixel.it Overview Targets  Financial and managerial support for early stage companies in internet field  Aspiring entrepreneurs in internet field Results achieved 12 companies have been supported/ 9 M € fund (+7,5 M € Working Capital) 13th April 2012
  • 57. Booz & Company 56 Name Banner Ventures Website www.bannerventures.com Foundation Year N/A Contact info@bannerventures.net Overview Targets  Banner Ventures LLC is a newly formed global venture capital company with offices in the U.S., Asia and Europe (Milan), focused on helping talented entrepreneurs build exceptional companies through human and financial capital support.  Their objective is to bring to high-potential companies a wealth of relationships across various industries and regions.  Aspiring entrepreneurs or young companies interested in knowledge and capital support Fund manage Name Zernike Meta Ventures Website www.zernikemetaventures.com Foundation Year 1987 Contact info@zernikemetaventures.com Overview Targets  Zernike Meta Ventures is an holding company specialized in finance for innovation and new businesses creation, it is an Italian-Dutch joint venture between Zernike Group and META Group  ZMV consists of a team of professionals who provide investee companies with an extensive network of contacts, advice for the procurement of any additional financial resources, the identification of managerial and professional expertise, and support service for accelerating the commercialization of products through the available global network  Zernike manages also 3 regional funds  Small companies interested in founding a network  Aspiring entrepreneurs in innovative fields Companies in portfolio 5 companies in portfolio 13th April 2012
  • 58. Booz & Company 57 The Innovation System in Italy A Call for Action Innovation Players: Who’s who 13th April 2012 Initiatives Incubators/Technological Parks Venture Capital Public Association
  • 59. Booz & Company 58 Name Italian Angel for Growth Website www.italianangels.net Foundation Year 2007 Contact 02 76022952 Overview Targets  IAG aims to finance industrial projects during early-stage presenting a high level of innovation and potential for success, to realise a profitable exit for the Angels in about 5 years.  Through the funding supports entrepreneurship, innovation and research in Italy by helping to promote sustainable development in the long term.  Start ups companies in any sectors where they have at least one expertise Results achieved 14 companies in portfolio Name Techno Seed ICT incubator Website www.friulinnovazione.it Foundation Year 1999 Contact 0432.629911 Overview Targets  Techno Seed incubator offers the opportunity to test a new business idea before starting a new enterprise and to reduce costs and administrative difficulties related to its launch.  Techno Seed selects innovative ideas based on Information and communication technology (ICT) and provides assistance including business plan, testing the idea’s eligibility, finding out funds and financial opportunities, setting up and launching a new enterprise  Once the new enterprise has been set up, it could have an area equipped at the Science and Technology Park to host the start- up (up to 3 years) as well as the assistance of qualified consultants and financial supports.  Aspiring entrepreneurs in the ICT sector interested in starting business in Friuli region Incubated companies 15 companies 13th April 2012
  • 60. Booz & Company 59 Name Piemonte High Technology Website www.piemontech.it Foundation Year 2005 Contact info@piemontech.it Overview Targets  Venture Capital with the aim of invest in the most innovative companies in Piedmont with investments in the range of 100.000-400.000 €  Innovative companies located in Piedmont with new technologies able to give them a competitive advantage  Main industries of interest: – ICT – Biotechnology – Advanced mechanics – Energy – Innovative services Results achieved Piemontech has actually 10 companies in its portfolio Name IMAST Website www.imast.biz Foundation Year N/A Contact 081 5519586 Overview Targets  IMAST realizes an integrated system of research, high education, and technological innovation. It fosters the development of knowledge as well as innovative application of products and technologies within Campania region.  IMAST integrates the public and private research. It assures the transfer of research results to the enterprises. Its aim is to improve the results, to spread information to the SMEs and to encourage the start-up of new enterprises. It manages high education projects in order to satisfy the growing demand for new professional figures.  Young people interested in growing professionally in a dynamic technological field  Companies looking for innovative initiatives  Researchers interested in working in a challenging and international environment  Aspiring entrepreneurs in the field of polymeric and composite materials Results achieved 2 start ups have been launched 13th April 2012
  • 61. Booz & Company 60 Name Invitalia Website www.invitalia.it Foundation Year 2007 Contact Overview Targets  INVITALIA Agenzia nazionale per l'attrazione degli investimenti e lo sviluppo d'impresa S.p.A. is a special-purpose undertaking established at central government level with the mission, especially with regards to the Southern regions of the country, of: – foster the attraction of high-quality foreign investments, as a contribution to the overall development of the country's economic and production system – develop industrial and entrepreneurial innovation and competitiveness in the production sectors and regional systems – promote the competitiveness and potential for attraction of the regions concerned  Aspiring entrepreneurs interested in starting business in Italy  Investors interested in investing in Italian companies  Companies looking for human or financial support Results achieved 13th April 2012 Name BIC Lazio Website www.biclazio.it Foundation Year N/A Contact 06 803 680 Overview Targets  BIC Lazio is an in house providing company of Regione Lazio with the aim of: – Spread entrepreneurial culture within the region – Boost entrepreneurial initiative above all in innovative sector – Promote collaboration among companies – Promote local development  Aspiring entrepreneurs interested in starting business in Lazio  Companies located within the region Results achieved
  • 62. Booz & Company 61 Name BAIA Website www.baia-network.org Foundation Year 2006 Contact info@baia-network.org Overview Targets • BAIA (business association Italy America) is a business network created by and for entrepreneurs, managers, and professionals operating between Italy and the US. As a nonprofit, BAIA is a collaborative organization open to new members and focused on promoting innovation.  Entrepreneurs, managers, professionals and start uppers looking for creating a network among Results achieved Name Agenzia per l’innovazione Website www.aginnovazione.gov.it Foundation Year N/A Contact 02.8515.5063 Overview Targets  The Agency for the Promotion of Technologies for Innovation is Italy's national innovation agency and was established with the goal of enhancing the small and medium size enterprises and industrial districts competitive potential by means of innovative technologies and processes  Helping Italian ministries and government to get public funds and to foster economic and innovation growth  They works to achieve best results in order to improve Italian economy Fund managed 13th April 2012
  • 63. Booz & Company 62 Name Italian Consulate Boston Website www.consboston.esteri.it Foundation Year N/A Contact 722-9201/02/03 Overview Targets  A special section of consulate offers specific services in order to foster and assure the best results in terms of encouraging entrepreneurs and officials from U.S. and from Italy to tighten and promote trade and business relationships.  Italian entrepreneurs and companies interested in promoting Italian products and services in Boston area Results achieved Name Italian Consulate San Francisco Website www.conssanfrancisco.esteri.it Foundation Year N/A Contact (415) 292-9200 Overview Targets  A special section of consulate offers specific services in order to foster and assure the best results in terms of encouraging entrepreneurs and officials from U.S. and from Italy to tighten and promote trade and business relationships.  Italian entrepreneurs and companies interested in promoting Italian products and services in SF area Results achieved Name Italian Consulate New York Website www.consnewyork.esteri.it Foundation Year N/A Contact 212 737-9100 Overview Targets  A special section of consulate offers specific services in order to foster and assure the best results in terms of encouraging entrepreneurs and officials from U.S. and from Italy to tighten and promote trade and business relationships.  Italian entrepreneurs and companies interested in promoting Italian products and services in the Tri-State Area Results achieved 13th April 2012
  • 64. Booz & Company 63 13th April 2012 Name American Chamber of commerce Website www.amcham.it Foundation Year N/A Contact 02 87 21 21 03 Overview Targets  They provide support to internationalization of Italian companies by providing different services including: – Business analysis – Commercial services – Legal and fiscal assistance  Italian companies looking for expanding their activities overseas Results