we receive e we publish the following press release issued by Intesa Sanpaolo.
Understanding St. Paul promotes for 12 innovative Italian startups an exclusive acceleration program in the Silicon ValleyIn partnership with INNOVATION (Italian Innovation and Culture Hub) e Understanding Sanpaolo Innovation Center. A journey of mutual understanding and full of meetings with potential investors, which took place in recent days in San Francisco, in the technological heart of California, to present the excellence of Italian innovation and offer the selected new companies an important opportunity for internationalization, in a complete immersion in the most dynamic and competitive entrepreneurial ecosystem in the world thanks to the support of Intesa Sanpaolo.
12 Italian Startups in Silicon Valley with Intesa Sanpaolo's Up2Stars
Kepler (Palermo), 2NDSpace (Faenza), Novac (Modena), PINPOINT (Bastille, Modena), Monitor The Planet (Faenza), Newlimb (Rome), Infinity ID (Brescia), bitcorp (Milan), CityZ (Caselle Torinese, Turin), Joule (Campodarsego, Padua), Oraigo (Padua), M2Test (Trieste): these are the 12 entities identified together with INNOVIT among the 80 that participated in the two editions of Up2Stars, the Intesa Sanpaolo program dedicated to the valorization of Italian startups that operate in strategic sectors for the country's economy such as digital, bioeconomy, health, aerospace, water, renewable energy, artificial intelligence, infrastructure and mobility. These are 12 young companies that have distinguished themselves for the potential design of their projects and for their adherence to the specific investment objectives of the Silicon Valley system, also included in the Elite-Euronext Group path, among the partners who collaborate in the Up2Stars acceleration program. A unique path in the banking landscape, thanks to the important collaborations that Intesa Sanpaolo, together with Innovation Center, has woven in the innovation ecosystem by accompanying startups in industrial, financial and managerial growth and, today, also at an international level.
During their stay in San Francisco, the 12 startups were able to participate in over 20 training sessions with local universities, in mentoring and networking activities with large innovative American companies and had access to a so-called shark tank, a guide of experts to introduce themselves to potential investors and possible strategic partners. A concrete commitment by Intesa Sanpaolo in terms of training, visibility and promotion for startups that translates into an overall economic value of 2,2 million euro: 25.000 euros for each startup accelerated by Up2Stars, which grows to 45.000 euros for the 12 companies that participated in the mission to San Francisco.
Intesa Sanpaolo and Innovit: mission to Silicon Valley to accelerate Italian startups
The mission, led by the head of the Banca dei Territori Division of Intesa Sanpaolo Stephen Barrese - accompanied by Anna Roscio, executive director Sales & Marketing Imprese Intesa Sanpaolo, and with Nicola Baiocchi di Silvestri, head of USA & Americas Intesa Sanpaolo – is carried out with the support of the Italian Innovation Center, directed by Alberto Acito and established at INNOVIT, the Italian Hub for Innovation and Culture promoted by the Government through the Ministry of Foreign Affairs and International Cooperation in collaboration with the Italian Embassy in Washington and the Consulate General of Italy in San Francisco. Essential components of INNOVIT are also ITA (Italian Trade Agency) and the IIC (Italian Cultural Institute San Francisco). This is the first collaboration activated between an Italian banking group and the INNOVIT Innovation Center – managed since October 2022 by the Giacomo Brodolini Foundation together with Entopan Innovation, incubator and accelerator of Harmonic Innovation Group – whose objective is to stimulate entrepreneurial ideas by catalyzing innovative cross-border projects and acting as an accelerator of their international development thanks to a stable presence in Silicon Valley and in the USA.
Intesa Sanpaolo's initiative with INNOVIT represents a further step in the commitment of the leading Italian banking group to support the ecosystem of innovation and competitiveness of companies in the international panorama. The Intesa Sanpaolo Group has long been committed to this segment of companies with dedicated programs and services, accompanying startups on growth and investment paths. In fact, for over a decade, the Bank has paid close attention to Italian startups with a market share of almost 32% and with financing exceeding 800 million euros.
Intesa Sanpaolo is also an active partner in the development and renewal of technology transfer models to local businesses as a founding member of four National Research Centers in Milan, Bologna, Naples and Padua – included in the Pnrr. Thanks to its presence in 37 countries, the synergies between the Group's Divisions, the expertise of its specialist desks and its collaboration with prestigious partners, Intesa Sanpaolo expands its support for the internationalization processes of Italian businesses directly or through interaction with strategic entities such as INNOVIT, promoting the success of businesses and startups – with a clear return of value for the Italian economic system.
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"We have identified in Silicon Valley a unique environment for comparison and development for Italian startups, with mutual benefits in the transfer of knowledge and expansion into new markets. Thanks to the collaboration with INNOVIT, we have strengthened these 12 startups with the necessary tools to establish themselves on an international scale, thus creating new innovation chains for the benefit of our country's economy", comments Stephen Barrese, Head of the Banca dei Territori Division of Intesa Sanpaolo. “We are a bank deeply rooted in the Italian territory from which these excellences come, but thanks to our international dimension and a network of strategic partners we can promote their growth abroad and, vice versa, attract new investments to Italy”.
According to the Consul General of Italy in San Francisco, Sergio Strozzi, “Intesa Sanpaolo’s mission in San Francisco, led by Stefano Barrese and with an ad hoc program of Up2Stars startups at INNOVIT, fits perfectly into the strategy of the Italian Embassy in Washington and the Consulate General of Italy in San Francisco, to strengthen the relationship between Italian innovation and Silicon Valley and spread a more modern and real image of our country’s talents on the West Coast. For the Consulate General and INNOVIT, it means not only promoting the many technologically advanced companies in our country, but also assisting and promoting large Italian and European companies, such as Intesa Sanpaolo, which support our innovative ecosystems on a daily basis. The increasingly frequent presence of Intesa Sanpaolo’s top management in San Francisco is an important sign of this new era of relations between Italy and Silicon Valley, which has actually begun with the creation, by the Ministry of Foreign Affairs and International Cooperation together with ICE, of the Italian Hub for Innovation and Culture – INNOVIT.”
Alberto acito, Director of the INNOVIT Innovation Center: “We are excited to collaborate with Intesa Sanpaolo to offer selected startups the opportunity to engage with the most advanced entrepreneurial ecosystem in the world. INNOVIT was created with the aim of catalyzing innovative projects and facilitating the international growth of Italian companies, creating a two-way flow of ideas and skills that enrich the Italian economy. The program developed for Up2Stars represents a significant step in this direction.”
Intesa Sanpaolo
Understanding St. Paul, with over 422 billion euros in loans and 1.350 billion euros in customer financial assets at the end of June 2024, is the largest banking group in Italy with a significant international presence. It is a European leader in wealth management, with a strong focus on digital and fintech. In the ESG field, by 2025, 115 billion euros of Impact disbursements are planned for the community and the green transition. The program for and in support of people in difficulty is 1,5 billion euros (2023-2027). The Bank's museum network, the Gallerie d'Italia, is an exhibition venue for the artistic heritage owned by the Bank and for cultural projects of recognized value.
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Innovation
INNOVATION is the hub promoted by the Directorate General for the Country System of the Ministry of Foreign Affairs and International Cooperation, in collaboration with the Italian Embassy in Washington and the Consulate General in San Francisco. The implementing body of the project, through its offices in New York and Los Angeles, is ITA (Italian Trade Agency). In addition to the Innovation Center, INNOVIT includes the Desks of ICE (agency for the promotion abroad and the internationalization of Italian companies) and the Italian Cultural Institute in San Francisco. The goal of INNOVIT is to create partnerships between the American and Italian economic and cultural ecosystems and to guarantee the Italian communities a lasting presence in Silicon Valley also thanks to the IIC (Italian Cultural Institute San Francisco). INNOVIT is a strategic initiative of the Italian Government for the promotion of innovation of the country system in the United States. The activities of the Italian Center and Innovation were entrusted in October 2022 by the Ministry of Foreign Affairs and International Cooperation and Ice to the Giacomo Brodolini Foundation, a think and do tank for innovation and local development, and to Entopan Innovation, an incubator and accelerator of the Harmonic Innovation Group. https://innovitsf.com/
