organiza(on*&*results*to*date**... italian’business’&’investment’initiative!/...
TRANSCRIPT
www.italianbusiness.org
ì Italian Business & Investment Initiative Why Italy Matters to the World New York, August 30 2012
Organiza(on & Results to date
Fernando Napolitano President & CEO Italian Business & Investment Ini5a5ve, New York Chairman Fulbright BEST Steering CommiAee, Rome
www.italianbusiness.org
Two programs constituting a platform to help Italy’s businesses internationalization & growth
ì Fulbright BEST scholarship’s objec>ve is to create high-‐tech entrepreneurs in Italy allowing Italian young scien>sts/economists to convert their innova>ve research/ideas into a start-‐up
ì Italian Business & Investment Ini(a(ve (IB&II) is a New York based company that facilitates Italian high-‐tech SMEs and start-‐ups to meet Us investors
ì Fulbright BEST and IB&II cons>tute an open plaOorm that coalesces 15 like-‐minded partners to create scale: it operates in New York and San Francisco, Boston from September
2
www.italianbusiness.org
The 4 pillars of IB&II
Business New York, San Fra: Italian start-‐ups & SMEs meet Us
Investors
Communica(on Promoted and Launched The first web magazine In English from Italy
Academia Gather and s>mulate
economic papers on Italy illustra>ng “also” the
opportuni>es 2011 • May 5, 2011 (Inaugural session) • Nov 14 2011, @ Bloomberg PLC NY HQ 2012 • Feb 14: NYU Casa Cultura Italiana • Feb 23: San Fra: Mind the Bridge • Mar 19: Harvard Business School • Apr 13: Rome, LUISS University • May 21: New York, Gansenvoort Hot. • Oct. 26-‐27 Milan, Mind the Bridge @
Corriere della Sera • Nov: Milan at Assolombarda in joint with
Harvard Club of Italy: US IPO seminar • Nov (TBD): New York
• “This is Italy”, by Panorama is the first Italian web magazine dedicated to English speaking audiences
• Addressing the news’ appe>te on Italy by 2 billion individuals that read English
• Italy will start to communicate not be communicated ONLY by others
• Academic research to highlight the strengths of Italy
-‐ White Paper by HBS (May 2011)
-‐ In defense of business culture values reflected in the Italian security markets
-‐ “Measuring Italy’s External Compe>>veness” by L. Codogno and L. Paganego
(*) Note: Pg. 4 illustrates Fulbright BEST in more details
US 7 million VC FUND IB&II investor in Mind The Seed, Delaware based VC
Fund
• Led by Mind The Bridge San Francisco, it is the first transatlan>c fund dedicated to interna>onalize Italian best high-‐tech start-‐ups
• Several Italian leaders invested to ac>vely support “change”
www.italianbusiness.org
Organization
4
• Posi>oning with US financial community, press/ media
• Italy: resident foreign media • Prepares start-‐ups & SMEs for the
mee>ngs with US investors • 4 FTEs • www.finsbury.com
• Posi>oning with VC US community • Networking • Event organiza>on • Community management • 3 FTEs • www.kohort.com
IB&II Fulbright BEST
IB&II BEST objec(ve: • To become the Italian growth
Agenda enabler • To become the key business
interlocutor between Italian Start-‐ups – SMEs and the US financial community
• Fernando Napolitano, President & CEO • Gianluca Gallego, US Opera>ons • Gaetano Pellicano & Vigorio Ayra, Italian
Opera>ons • Alma Business School Bologna, the Academic HUB:
awareness, training, mentoring
Pipeline: Start-‐ups-‐SMEs selec(on • Intesa San Paolo Start up Ini>a>ve • Innogest VC Fund (Italy’s largest) • Mind the Bridge & BAIA, San Francisco
www.italianbusiness.org
Delivering results 1 key distinguishing feature: scalability to foster change
ì Fulbright BEST scholarship to promote high-‐tech entrepreneurship in Italy (since 2008). Italian (<35y/o) with an innova>ve high-‐tech business idea can convert it into a start-‐up: 1. Classes of entrepreneurship in California (3 months), 2. 5 months each works for a start-‐up in Silicon valley; 3. Back to Italy (J-‐1 VISA obliga>on), 6 months of mentorship to facilitate the launch of the start-‐up in Italy. Italy d is the only country ww to run BEST
ì IB&II to present Italian high-‐tech companies to US investors to promote expansion (since 2010) Twice a year in NY Italy’s high-‐tech start-‐ups meet US investors. The start-‐ups, invested by an Italian VC, are selected by Intesa Start-‐up, MtB, Baia, Innogest VC fund. This formula provides the best of both worlds: Italian human capital and crea>vity & US market and financial opportuni>es for M&A or IPO exit strategies
5
Programs’ Descrip(on
ì Fulbright BEST scholarship: ì 5 Edi>ons, 50 talented Italians benefited; 26 start-‐up
created in Italy; just launched 2012 5th edi>on
ì Italian Regions (20) to emulate Tuscany and Emilia Romagna that used European Social Funds to sponsor F BEST scholarships
ì Scalability: 200-‐250/ year leveraging Regional EU funds (Tuscany is the benchmark providing 10 scholarships per year); 1,000 in 3 years
ì Italian Business & Investment Ini(a(ve
ì 2 mee>ngs in New York in 2011; 3 to date in 2012 ì 42 high-‐tech companies presented to 200 US
investors; 8 follow ups undergoing with investors
ì Scalability: 1 mee(ng per Q, TV pladorm, Academic Research
& Results
www.bestprogram.it
www.italianbusiness.org
IB&II uniqueness: stewardships of key players to ignite growth in Italy
6
Italian corpora(ons understand that crea>ng innova>on engines via start-‐ups it’s in line with each respec>ve core business and increases shareholders’ value
www.italianbusiness.org
The Ecosystem
7
VCs, Italy -‐ Innogest -‐ Atlante V. -‐ 360 Cap. P. -‐ Dipixel -‐ M31 -‐ …
Angels
Incubators/ Accelerators -‐ Florence -‐ Milan -‐ Rome -‐ Sardinia -‐ Turin
Mentors
Intesa Start-‐up Ini>a>ve
US VCs & players -‐ New York (Columbia
Venture Community) -‐ West Coast
Ins>tu>ons -‐ Italian Embassy, Wash. DC -‐ Italian Consul.: NY, SF, Boston -‐ Italian Trade Comm. -‐ Am Chamb., Italy -‐ Invitalia
NGOs -‐ BAIA, SF -‐ Mind the Bridge, SF -‐ SVIEC, SF -‐ NIAF, W DC -‐ NOVA
New York based & focused en(ty -‐ Italian Business & Investment Ini(a(ve -‐ 2 events/ year
Talents/ Favoring entrepreneurship
Start-‐up, SME Interna5onal Growth
US beachhead & network
US market expansion
ITALY
USA
Media: Create awareness Media: Create awareness
Opera>ng Model
Italy & US Enablers -‐ Fulbright BEST -‐ Venture Camp -‐ Italia Camp -‐ Mind the Bridge -‐ Gym -‐ …
www.italianbusiness.org
IB&II a reliable sought after source in the US and Europe
8
By Stacy Meichtry
Italy press: wide coverage
www.italianbusiness.org
This is reflected on IB&II website stats: 10,750 unique visitors
9
Returning Visitors: 5,606
www.italianbusiness.org
IB&II launched a call for action : 1,000 talented Italians to enroll in Fulbright BEST in 3 years
10
April 13 2012, Rome LUISS • IB&II launched the first Italian call for ac>on: • 4 Ministers (Industry, University, Foreign Affairs, Regional Affairs) • CNR (Consiglio Nazionale delle Ricerche) • Top CEOs: Alitalia, Enel, ENI, Generali, Mediaset, Wind • US Ambassador to Rome • Operators: Intesa Bank, Innogest VC fund, Mind the Bridge • Best performing Italian Regions: Tuscany and Emilia Romagna • Media (watch-‐dog): Panorama & Economy
• To change a genera>on in 3 years: 1,000 talented Italian to exploit the Fulbright BEST scholarship; this will become the turbine for VC growth in Italy
• The objec>ves for 2012/13 are:
• Organiza>on build up (Italy and US) • Awareness on BEST whose 2013 bando issued on June • Alma Business School of Bologna to become the “hub” • Involve regions via President Errani & create awareness in
Universi>es • Communica>on: use wisely but effec>vely Panorama &
This is Italy to reach US audience • Strengthen the >es with Mind the Bridge and Mind The
Seed Fund
www.italianbusiness.org
35 high-‐tech companies presented in 2011
11
www.italianbusiness.org
May 21 2012 NY, companies’ slate
12
1. Frestyl – Frestyl is an online site that allows users to share and connect over the local music scene in their area. Users share informa>on about venues, organize concerts, find informa>on for hos>ng or agending events, and discover what's current in their music scene
2. Hyper TV – Contents can be published on any screen: computer, smartphone, tablet, connected TV and TV. Broadcasters and On-‐Line Content Publishers can reach their customers any >me and anywhere. HyperTV eXperience overturns the idea of linear webTV: the user is the one who chooses what to view and when to do it, according to his own interests.
3. I Like TV (Archimedia) – I Like TV is an online social networking website where users connect over television shows in their local area markets, exchange ideas and connect with like-‐minded viewers.
4. Nextstyler -‐ NextStyler and online community for fashion lovers and designers. Users can create, present and even buy garments from exclusive fashion brands.
5. Spinvector – Spinvector is a technology company that creates digital hardware products such as holograms, videogames, and 3D cinema technology.
6. Spreaker – Is an online community that lets users “become their own DJ” by helping them create and broadcast their own personal radio shows on the internet.
7. Vivocha Vivocha.com a cloud service that enables businesses to seamlessly communicate with prospects and customers right on the website, using any combina>on of VoIP (audio and video), chat, audio callbacks and collabora>on tools like assisted browsing, form & document sharing