The Startup Ecosystem 2015

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


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


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


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



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


LOMBARDIA





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


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


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


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


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





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 €


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 €

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

Economy & Finance

The Startup Ecosystem 2015