ItaliaXStartup, watch the first episode of the web series dedicated to startups and the world of innovation
A project of CDP Venture Capital Sgr – Fondo Nazionale Innovazione, ItaliaXStartup is dedicated to both startups and the world of innovation. As web series divided into 8 episodes, it sees the participation of startuppers, Italian Venture Capitalists and institutional figures, all interviewed by Marco Montemagno, as well as a series of virtual events that match up investors, startups and businesses.
In the first of the web series episodes, CEO and General Manager Fabrizio Palermo speaks of the objectives of CDP Venture Capital – Fondo Nazionale Innovazione. ”The initiative seeks to create the Venture Capital ecosystem. We aim to create new teams, incubators and accelerators - people who can turn an idea into a business. Our aim thereafter is to create a system, thus connecting universities, other institutions and, above all, companies.”
“This is the great challenge, because any idea that doesn’t end up with a company risks dying. It must arrive at solid financial value while being able to stand on its own feet. Strengthened by the fact that we’re shareholders in over 500 companies, we believe we can be enablers of this”.
Regarding the context of the Fund's initiative, which has an initial budget of about 1 billion euros, Palermo explains: ”We as a country, compared to other European countries such as France and Germany, are lagging behind both in terms of the amount of funds, structures and the ecosystem as a whole. The Fund aims to solve some of these aspects”.
The episode didn’t speak of funds alone but also of the current innovation scenario. ”Today the frontier of innovation is moving towards deep tech: that is, towards everything that most relates to mechanical engineering.”
Palermo points out that the areas of innovation in our country include “Biotech, finance and fintech. I believe much innovation can also arise within Tourism, a very important industry in Italy. In all, the digitalization of solutions is an example of how this segment is being helped to evolve.”
The fund seeks to make Venture Capital as a strategic pillar to the country's growth and innovation. ”This innovation must grow and remain in Italy though nobody’s saying it won’t then go abroad to export some business model - consolidated in Italy - that generates value and, potentially, employment.”
