MTB Boot camp Sep 2010 - Open Forum

STARTUPS AND SPINOFFS IN ITALY.FACTS AND TRENDS

Mind the Bridge Boot Camp 2010Varese, September 23

ALBERTO ONETTI, CHAIRMAN, MIND THE BRIDGE FOUNDATION DIRECTOR, CRESIT, UNIVERSITY OF INSUBRIA

With the support of

bridging opportunities of the Silicon Valley with Italian talent

associating mentors and role models

professionalizing the business planning skills

using and building the network

“give back” to build a bigger pie

Mission:to promote a new Italian entrepreneurial ecosystem that is:

ETHICAL, HIGHLY PROFESSIONAL, INTERNATIONALLY FOCUSED, EXCELLENCE DRIVEN

Model:funded by foundations/companies/private sector/donors

not government partnering with the most relevant actors

INDEPENDENT

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FOUNDATION

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BUILDING THE BRIDGE: THE PILLARS

Discovering and Nurturing the Italian Talents (MtB Italy Tour 2010) Selecting the best of breed (Annual MtB Business Plan Competition) Providing training & education to the new generation of entrepreneurs

(MtB Bootcamp and Coaching) Showcasing the most promising startups and opening an international

debate (MtB Venture Camp @ Corriere della Sera) Hosting & Mentoring the most promising startups in the Silicon Valley

(MtB Gym) Pitching US investors / partners (MtB Gran Finale events)

BUILDING THE BRIDGE: THE TIMELINE

November 5-6, 2010Corriere della SeraMilano

with the support of:                                                                                                      

With the support of:MtBRoadshowsWhen?Jan-Jun 10

MtB Business Plan Competition/MtB Call for IdeasWhen?Jul 10

MtB BootcampMtBCoachingWhen?Sep-Oct 10

MtB Venture Camp @Corriere della SeraWhen?5-6 Nov 10

MtB GymWhen?Q1 2011

In partnership with:

2009 SELECTED START-UPS

Revolutionary antenna system (Milano)

Wi-Fi-derived solutions (Milano and Boston)

Comprehensive non-invasive solution for both vertebral fractures and bone strength assessment (Lecce)

Solution to update any digital information (Sassari)

Social-network that allows users to create music through the web (Treviso)

Social marketplace for travel, where experts can provide users with information and personalized offers (Milano)

Virtual and Augmented Reality technology (Pisa)

2010: WHO ARE THE NEXT ITALIAN PIONEERS TO SILICON

VALLEY? The challenge is open: who’s next?

Hundreds of Business Plans received 33 startups selected During the Bootcamp we select the short list of 15

pitching @ Corriere della Sera The Top 6/7 are admitted to MTB Gym @ Pier 38 in

San Francisco

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ITALY: WHERE ARE WE?

Source: CrESIT 2010ITALY: INDUSTRY CONTRIBUTION TO GDP (2009)

We have plenty of SMEs SMEs are 98% of the total

We are mostly positioned on mature business and services Services is 67% of GDP, while Manufacturing is only 24% Innovative sectors play a minor role (2-5%)

We need a new wave of startups, operating on innovative fields

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STARTING UP BUSINESS IN ITALY:KEY ISSUES

A few startups often lacking high-quality business plans (deal “trickle”) Legal barriers to entry and exit (Italy is not a “corporate haven”) Obstacles in bridging research into business Managerial skills

High mortality rates (“crisi del primo miglio”) and “Dwarfism” Lack of an established venture capital community Mindset

No exits on the domestic market Technology hot-shots aspire to sell out to new economy “leviathans” Small size of the stock market and lack of large corporations doesn’t help Language barriers

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It is 14 months old 77% originate in Northern Italy

16% are incubated in a technology park

20% are an academic spin-off 46% are Web-based firms The founder’s team is composed of

3/4 people Only 7% have just one founder

97% are looking for funding Initial capital investment is €33k 19% received some external

funding (mostly research grants)

ITALIAN STARTUPS:MTB PARTICIPANTS PROFILE

Source: Mind the Bridge - CrESIT 2010

6%

24%

45%

9%

15%

Startup by Industry

ICT/EICT/SWeb/NMCLEANBIO/LS

Source: Mind the Bridge - CrESIT 2010

Startup by Geography

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He/She is 35 86% is male, only 16% is female 67% has a scientific/technological background , while 33% has a

business/humanistic education 42% holds a Ph.D. or MBA

33% got it abroad Only 5% does not hold a university degree 28% has prior entrepreneurial experience

ITALIAN ENTREPRENEURS: MTB PARTICIPANTS PROFILE

Source: Mind the Bridge - CrESIT 2010

14%

86%

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Education matters a lot 2.0 Startups are founded by highly educated people

Experience matters as well Being a serial entrepreneur is a job The right startup is never the first one you found

Working/Studying abroad does open your mind It means more network, opportunities, ideas, experience

A successful startup is a team effort One-man bands do not go too far

WHAT DOES MAKE A SUCCESFUL STARTUPLESSONS LEARNED

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AREAS OF IMPROVEMENTLESSONS LEARNED

Source: Piccaluga 2007

We need more female entrepreneurs Break cultural barriers

We still need more academic spin-offs Lack of efficient technology

transfer offices Universities do not offer incentives for

lecturers to spin-off business initiatives Italian scientists do not think business Scarcity of skilled executives with

strong entrepreneurial skills

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THANK YOU FOR YOUR ATTENTION

www.mindthebridge.orgwww.cresit.it

USEFUL LINKS:

mindthebridge.blogspot.comsiliconvalley.corriere.it

BLOGS:

Facebook: Mind the Bridge - Connecting TalentTwitter: MindTheBridge

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