David Butler Tech & Startup Advisor | Serial Networker !!!@david_a_butler www.SocialAxle.com Inspiring Success: An umbrella entity for several initiatives benefiting the Swiss startup and technology communities.

@david_a_butler | www.SocialAxle.com | #madeinnovitaly

Amazing wine, great food, fun culture... ! ...not just “Dolce Vita”

@david_a_butler | www.SocialAxle.com | #madeinnovitaly

• 3rd largest country in Europe • 9th biggest economy in the world • high average income • high purchasing power

@david_a_butler | www.SocialAxle.com | #madeinnovitaly

Italian Startup ecosystem !• 2100+ registered innovative startups • 113 funded startups • 97 incubators and accelerators  • 191 co-working spaces • 45 FabLabs* • 40 science and technology parks • 32 startup competitions • 32 institutional investors  !Investments (2012) !• 112 million Euros • 73% ICT • 16% cleantech & energy  • 9% life sciences  • 3% other

*FabLabs are a global network of local labs, enabling invention by providing access to tools for digital fabrication

@david_a_butler | www.SocialAxle.com | #madeinnovitaly@david_a_butler | www.SocialAxle.com

June 8, 2014 report: !• In the past 12 months 1,800 startups have set up in Italy currently only 22 Vcs • A notable fund for private equity, Fondo Italiano di Investimento —

an Italian version if the European Investment Fund (EIF) — also recently allocated part of its capital (€50 million or $68.2 million) to VC funds, providing a key opportunity to start new funds and increase the capitalization of the market.

• Overall, there are 33 institutional investors in Italy comprising 22 VCs, five incubators/accelerators, four public funds, one family office, and one angel network.

• Additional attractions include a pool of highly skilled technical talent….. recent top-level talent acquisitions like Glancee in 2012 and Monoidics in 2013, which were both acquired by Facebook. Fashion e-commerce site Yoox is now frequently dubbed “the Amazon of fashion” and currently worth more than $2.7 billion

@david_a_butler | www.SocialAxle.com | #madeinnovitaly

• Italy is catching up with global digital trends • Offering an increasingly enticing landscape for venture capital • Recent changes in government legislation with the Startup Act have

also enhanced the landscape for investments • Introduced the Crowdfunding Act (2013) • It is only a matter of time before investment from outside of Italy takes

hold on a large scale

@david_a_butler | www.SocialAxle.com | #madeinnovitaly

Thank you

@david_a_butler | www.SocialAxle.com | #madeinnovitaly

Footnotes and sources of information: !Startup Law In december 2012 the italian government issued a law (legge 221/2012) that defines the characteristics of the so-called innovative startup (startup innovativa). Some of the features of the innovative startup are: it must reside in Italy; its turnover shouldn’t exceed 5 million Euros; it’s mainly focused on innovative technologies; spends more at least 15% on research and development and/or holds patents and/or hires 1/3 of PhDs. !Here you can find a link to an translation of the law made by the Italian Economic Development Office (Ministero dello Sviluppo Economico) http://www.sviluppoeconomico.gov.it/index.php?option=com_content&view=article&viewType=1&id=2025221&idarea1=0&idarea2=0&idarea3=0&idarea4=0&andor=AND&sectionid=0&andorcat=AND&partebassaType=0&idareaCalendario1=0&MvediT=1&showMenu=1&showCat=1&showArchiveNewsBotton=0&idmenu=3391&directionidUser=0 !!Crowdfunding Law A second interesting law for startup business in Italy is the so-called Crowdfunding Law in August 2013 (DL 179/2013; Regolamento Consob N. 18592 del 26 giugno 2013). The most important aspect of this law is that now equity-based crowdfunding is permitted, meaning that crowdfunding financing is now a true investment tool that can attract and reward capital (previously it was reward based, like Kickstarter crowdfunding). The four forms of crowdfunding are: Equity-based, Reward-based, Donation-based, and Social-lending. !The official text of the law, in Italian, is here: http://www.consob.it/main/documenti/bollettino2013/d18592.htm?symblink=/main/trasversale/risparmiatori/investor/crowdfunding/link_reg18592.html) !!Innovative startups national registry As a result of the startup law, a national registry of innovative startups was born in 2013, a registry of all the companies that meet the startup requisites. Since than, Italy counts 2181 new business created. The registry can be found here: http://startup.registroimprese.it/ (the official registry) and here http://www.italiastartup.it/whoiswho/ (indipendent made by Startup Italia). !Here’s another infographic that shows the numbers of startups in Italy http://www.startupitalia.eu/infografica/ !!

@david_a_butler | www.SocialAxle.com | #madeinnovitaly

Poli tecnologici: science parks and incubators In the last 7/10 years, Italy have seen the growth of Science Parks and Incubators called Poli Tecnologici (singular is Polo Tecnologico); these structures aims to work as incubators for startups. The peculiarity is that many of the Science Parks are focused on a specific tech area. Some of these Poli are public, other are municipality participated, a minority is private. !One of the most interesting examples is the Polo Tecnologico di Navacchio, near Pisa (www.polotecnologico.it/en), nowadays considered one the best in Europe (http://blog.startupitalia.eu/en/navacchio-one-best-incubators-europe/), also winner of the Best Science Based Incubator Award in 2011 (http://www.polotecnologico.it/en/news-archive/350-best-science-based-incubator-award-2011q-allincubatore-del-polo-tecnologico-di-navacchio-presentazione-venerdi-23-dicembre). !!Co-working and Fablabs Except from founded startups and institutions, there’s a growing mass of skilled professionals (ranging from graphic design, videomaking, photography, arts to product-design, software development and robotics) that moves around the co-working spaces and the Fablabs. Italy counts around 246 spaces like these around the nation: 191 coworking spaces, 45 FabLabs, 10 coworking+fablab; 150 in the north of Italy, 59 in the center and 37 in the south of italy. (This article from which I've drawn the data http://www.lastampa.it/2014/06/10/blogs/lavori-in-corso/sono-quasi-trecento-le-nuove-fabbriche-ecco-i-luoghi-dove-si-fa-innovazione-K3Dfjk9ktgMWD9okiofmvM/pagina.html) !!People The profile of the median co-worker is: age 25 to 40, both sexes, with an high level of education (most of them are graduated (data from previous article and coming from a research made by Istituto Ivano Barberini). The profile of the italian startupper is: male, in his thirties, most likely to come from the north (60%), with an engineering or business degree; other data http://it.startupbusiness.it/news/the-identikit-of-an-italian-startupper.

Special thanks for the research assistance: Davide CecchiniStartup Grind - Chapter Director, Pisa (Italy) http://startupgrind.com/pisa | @startupgrindPSA