gec 2015 - report of the observatory of hi-tech startups in italy
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The Startup Ecosystem & the Investments in Hi-tech Startups in Italy
Andrea Rangone School of Management, Politecnico di Milano
Observatory on Hi-tech Startups in Italy
IN COLLABORATION WITH WITH THE INSTITUTIONAL SUPPORT OF
1_ The Italian Startup Ecosystem: "Who’s Who"
3_ A selection of significant startups
2_ Investments in hi-tech startups in Italy
www.osservatori.net Observatory on Hi-tech Startups in Italy 17 Marzo 2015
Funded Startups
The Italian Startup Ecosystem The players
“Innovative Startups”
“Institutional” Investors
Incubators and Accelerators
Crowdfunding Platforms
Science and Technology Parks
Coworking spaces
Fablabs
Startup Competitions
Hackathons Empowerment programs
Associations, Online Resources & Communities
Call for tenders
www.osservatori.net Observatory on Hi-tech Startups in Italy 17 Marzo 2015
The Italian Startup Ecosystem The methodology
§ A census survey of the main players in each category based on a review of secondary sources (online re-sources, press search, etc.)
§ Interviews with each identified player to understand their actual role within the ecosystem
www.osservatori.net Observatory on Hi-tech Startups in Italy 17 Marzo 2015
The Italian Startup Ecosystem The numbers
The players 2013 2014
"Innovative Startups" 1227 2716
Funded Startups 108 118 "Institutional" investors 32 36 Incubators & Accelerators 97 100
Science & Technology parks 40 38 Coworking spaces 65 62
Startup Competitions 33 52
Associations, Online resources & communities 20 27
Hackathons - 21 Empowerment programs - 38
Call for tenders - 46
Crowdfunding platforms - 48
Fablabs - 46
LAST UPGRADE, OCTOBER 13th 2014
www.osservatori.net Observatory on Hi-tech Startups in Italy 17 Marzo 2015
The Italian Startup Ecosystem The national map: an example
INCUBATORS AND ACCELERATORS: 100 (2014)
Incubators and Accelerators: Public and private incubators and accelerators that provides associated services to support startups (mentorship, networking, etc) in addition to rental space. Certified Incubators and Accelerators (ref. Decreto Sviluppo Bis) are identified by an asterisk FOR THE NAMES AND CONTACT INFORMATION OF THE PLAYERS MENTIONED ON THIS SLIDE,
PLEASE VISIT THE WEBSITE WWW.ITALIASTARTUP.IT/WHOISWHO
58% 21%
21% North
Centre
South and Islands
LAST UPGRADE, OCTOBER 13th 2014
www.osservatori.net Observatory on Hi-tech Startups in Italy 17 Marzo 2015
The Italian Startup Ecosystem The regional map: an example
§ 22% of "Innovative Startups" § 34% of Funded Startups § 53% of "Institutional" Investors § 35% of Crowdfunding Platforms § 21% of Incubators and Accelerators § 13% of Science and Technology Parks § 31% of Coworking spaces § 17% of Fablabs § 35% of Startup Competitions § 24% of Hackathons § 13% of Empowerment programs § 15% of Call for tenders
Percentage of Italian total
FOR THE NAMES AND CONTACT INFORMATION OF THE PLAYERS MENTIONED ON THIS SLIDE, PLEASE VISIT THE WEBSITE WWW.ITALIASTARTUP.IT/WHOISWHO
LAST UPGRADE, OCTOBER 13th 2014
LOMBARDIA
1_ The Italian Startup Ecosystem: "Who’s Who"
3_ A selection of significant startups
2_ Investments in hi-tech startups in Italy
www.osservatori.net Observatory on Hi-tech Startups in Italy 17 Marzo 2015
Total investments in hi-tech startups
0
20
40
60
80
100
120
140
2012 2013 2014
Mili
on €
+15%
≈118* 112 129
-9%
• Quantification of these investments was carried out through primary sources. Direct interviews were therefore conducted with all institutional entities plus the main incubators/accelerators, Family Offices and Business Angel Networks
• Data collected from the 2013 IBAN Survey was added to the data collected through these primary sources
* Values for 2014 are estimated
www.osservatori.net Observatory on Hi-tech Startups in Italy 17 Marzo 2015
Distribution of investments by investor type
77 82 63
35 47
55*
0
20
40
60
80
100
120
140
2012 2013 2014
Mili
on €
Business Angels, Family Offices, Incubators and Accelerators
Institutional Investors
+6%
+34%
≈118*
112 129
-23%
+17%
70%
30%
53% 47%
64%
36%
* Values for 2014 are estimated
www.osservatori.net Observatory on Hi-tech Startups in Italy 17 Marzo 2015
Venture Capital Investments: a benchmark
Investment from Institutional Investors in high-tech startups in Italy is: § 1/8 vs France and Germany
§ 1/5 vs United Kingdom
§ 1/2 vs Spain
www.osservatori.net Observatory on Hi-tech Startups in Italy 17 Marzo 2015
74%
17% 6% 3%
0% 20% 40% 60% 80%
100%
2014
Distribution of investments by sector
Total: 63 Million €
ICT Other Life Science
Investments refer only to those startups that obtained financing from Institutional Investors (79 startups)
68%
23% 4% 5%
0%
20%
40%
60%
80%
100%
2014
Total startup: 79
Cleantech and Energy
www.osservatori.net Observatory on Hi-tech Startups in Italy 17 Marzo 2015
Founder profile refers only to those startups that obtained financing from Institutional Investors in 2014 (79 startups)
Background and age of startup founders
66%
34% 26%
31%
43% Technical
Managerial
< 30 years
30 – 40 years
> 40 years
8% 15%
19%
66% 92%
No Laurea PhD Master Laurea
Graduated
not Graduated
85 % of the startup founders are male
1_ The Italian Startup Ecosystem: "Who’s Who"
3_ A selection of significant startups
2_ Investments in hi-tech startups in Italy
www.osservatori.net Observatory on Hi-tech Startups in Italy 17 Marzo 2015
Startups with the highest financing rounds
2013/2014 Financing rounds
4,6 mln € 8,7 mln €
6,3 mln €
4 mln €
3,8 mln €
6,5 mln €
10 mln € 5 mln €
www.osservatori.net Observatory on Hi-tech Startups in Italy 17 Marzo 2015
Startups with the highest exit value*
2013/2014 Exits
* Under consideration only those startups with publicized exit values
185 mln €
100 mln €
64 mln € 250 mln €
732 mln €
578 mln €
450 mln €
330 mln €
71 mln €
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