For intelligent investors, the city of Italy has always been a popular vacation spot. Even more so now that it’s seems to be graciously favoring VC’s. Their environment is becoming more welcoming to start ups as well. But in the past it wasn’t always like this. Italy was known for their high taxes and incredible amount of paper work so it wasn’t uncommon to see an Italian out of his home country in cities like London for them to have more freedom and leeway in creating their companies.
Bright side. The Italian Ministry of Economic Development & The Italian Trade & Investment Agency in London enjoys the thought of Italian startups in their city. And have been more than happy to give Italian entrepreneurs funding to help them gain more experience. With more than 100,000 Italians living in the city of London it bounds to attract high-end profiles, celebrities and high-profile names like La Dolce Vita. Italians have been finding La Dolce Vita in London after overtaking Russians as the biggest buyers of property in the capital.
Country’s tech ecosystem
As we all know the tech industry is still ever evolving and is on a rise of its own. With emerging companies like BlaBlaCar in Paris. And 10 other tech based Italian startups that have made the country of Europe an economic tech wonderland. These companies have made the country of Europe’s annual ranking of Europe’s biggest start up hubs:
- Boom, a hyper-growing tech startup that provides a platform to streamline the entire production of visual content, from booking to delivery for industries such as food, travel, real estate, and e-commerce.
- AideXa is an AI-powered and data-driven challenger bank that aims to help Italian SMEs streamline their banking and overall business operations.
- PatchAi is a cognitive platform that champions patient engagement. It aims to transform clinical research into something more humane through technology.
- CARDO AI uses artificial intelligence algorithms and advanced integrated platforms to provide access to institutional investors in high-yielding alternative digital lending assets.
- FrescoFrigo is a health food startup. Founded in 2018, the team has developed an intelligent fridge using predictive technology to allow customers to have, with a single tap, fresh and quality products designed for a convenient healthier lifestyle.
- Kampaay is an innovative event-as-a-service platform designed for the organization of both virtual and physical corporate events.
- Blink Last Mile is a sustainable same-day delivery service for eCommerce companies in Europe.
- Lokky is a technology platform for the insurance sector that offers tailored products for entrepreneurs.
- hlpy is a B2B2C startup providing digital roadside assistance. Through machine learning, artificial intelligence, and natural language processing technologies, hlpy puts different access channels at the service of the end customer to deliver the best customer experience.
- And finally Nibol. Founded in 2019, acts as a platform to offer both employees and freelancers working spaces solutions across the main Italian cities.
These Italian, London and Milan based tech companies are worth following in 2022. They were worth following in 2021 as well.
Current Trends and Post Covid outlook
“Italy is one of our leading markets thanks to its large number of family-owned companies,” said Astorg partner Lorenzo Zamboni.
In the past years the Italian government has been more aggressive with the funding for innovation and technology. Giving more power to strengthening research and technological transfer. Adding to that, scientific research centers, the Italian Institute of Technology, and The National Innovation Fund was made in 2019 with a starting budget of $1 billion euros.
First national fund
In 2021 the Italian Ministry of Economic Development launched the first national fund to technology transfer. A new and incredible foundation. And their tech has been made to manage a $500 million euro fund for investments related to creative and innovative technologies which have a strategic and national interest on a worldwide scale.
Their mission and main goals are to expand the Italian industry, strengthen its supply chains through technology transfer with the bottom-line assignment to restart growth. And find better opportunities for Italian growth and create better solutions for the environment as well as society.