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The week in Italian startups - Issue #22

The week in Italian startups - Issue #22
By Niccolò Sanarico • Issue #22 • View online
Hello!
I am finally back after a two weeks break - I needed to change air and perspective 🏔. Moreover, August is usually a quiet month in terms of news - most of the action takes place in July, and any news is usually released in September if anything happens in the meantime.
In this issue, I collected some of the articles published in the last month. Among them: the EIB confirms to be an important source of finance for companies with high R&D efforts (space tech, life sciences), and 50 seed-stage startups received an aggregate of €22M from investment syndicates led by CDP Venture Capital and its fund dedicated to startup accelerators.
The most interesting news, though, is that the Italian government has finally approved the creation of a new Foundation with a capital allocation of €500M (half-a-billion). The Foundation will invest in technology transfer projects and R&D-heavy startups. It should start operating as early as this Fall - I’ll keep you posted!
Enjoy this issue,
N.

The Money
Technology Transfer gets a new boost
  • The Italian Ministry for Economic Development 🇮🇹 approved the creation of the Enea Tech Foundation, an institution with a target capital allocation of €500M and the goal to invest in technology transfer projects and technology startups. The Foundation will be managed by ENEA, the Italian National Agency for New Technologies, Energy and Sustainable Economic Development.
  • We are not new at this: in 2016 we had the ITATech initiative, a €200M fund-of-funds that served as anchor investor for 5 privately-managed VC funds selected by the EIF.
  • This time, the government decided to keep the capital in-house. Since ENEA has no strong history as a direct investor, I expect that operators from the Italian ecosystem will be involved.
COVID-19
While in many areas in the world the number of new positives rises again, Italian companies have entered the race for finding a vaccine to SARS-COV-2. Here’s a couple of the latest developments:
Reading this week
  • Angular Ventures’ Gil Dibner published a report on Enterprise & Deep Tech VC in Europe & Israel. Italy is still almost non-existent on these (quite detailed) charts 😤, but at least they chose a beautiful picture of the Duomo of Milan as the cover image.
Ending notes
Welcome to the new subscribers! Thanks to Azeem Azhar’s Exponential View for mentioning my humble newsletter (if you don’t read EV already, you should definitely sign up).
As always, feel free to send me links and comments, they are extremely helpful and welcome 🙏🏻
Have a great week,
Nico
Did you enjoy this issue?
Niccolò Sanarico

The week in Italian startups is a weekly collection of the most interesting news in the Italian startup ecosystem, with a focus on funding rounds, milestones, major partnerships, and innovation news. The weekly email will be in your inbox on Monday morning(-ish).

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