The document summarizes startups and spinoffs in Italy, providing facts and trends. It discusses Mind the Bridge Foundation's mission to promote an ethical, professional, and internationally-focused Italian entrepreneurial ecosystem. It outlines the foundation's pillars which include discovering Italian talent, selecting business plans, providing training and showcasing startups. Statistics are presented on the profile of Italian entrepreneurs and startups. Key issues facing Italian startups are identified as well as lessons learned about what makes startups successful. Areas for improvement are also discussed.

1. Startups and spinoffs in Italy.Facts and trendsMind the Bridge Boot Camp 2010Varese, September 23Alberto Onetti, Chairman, Mind the Bridge Foundation Director, CrESIT, University of InsubriaWith the support of

2. Mind the Bridge foundationMission:to promote a new Italian entrepreneurial ecosystem that is:ethical, highly professional, internationally focused, excellence drivenModel:funded by foundations/companies/private sector/donorsnot government partnering with the most relevant actorsIndependentbridging opportunities of the Silicon Valley with Italian talent

3. associating mentors and role models

4. professionalizing the business planning skills

5. using and building the network

6. “give back” to build a bigger pieConnecting Talent

7. Building The Bridge: The PillarsDiscovering and Nurturing the Italian Talents (MtB Italy Tour 2010)

8. Selecting the best of breed (Annual MtB Business Plan Competition)

9. Providing training & education to the new generation of entrepreneurs (MtBBootcamp and Coaching)

10. Showcasing the most promising startups and opening an international debate (MtB Venture Camp @ Corrieredella Sera)

11. Hosting & Mentoring the most promising startups in the Silicon Valley (MtB Gym)

12. Pitching US investors / partners (MtB Gran Finale events)Connecting Talent

13. Building The Bridge: The TimelineNovember 5-6, 2010Corriere della SeraMilano with the support of: MtB GymWhen?Q1 2011MtB Venture Camp @Corrieredella SeraWhen?5-6 Nov 10MtB BootcampMtBCoachingWhen?Sep-Oct 10MtB Business Plan Competition/MtB Call for IdeasWhen?Jul 10With the support of:MtBRoadshowsWhen?Jan-Jun 10In partnership with:

14. 2009 selectedStart-upsRevolutionary antenna system (Milano) Wi-Fi-derivedsolutions (Milano and Boston)Comprehensivenon-invasive solution for both vertebral fractures and bone strength assessment (Lecce)Solutionto update anydigital information (Sassari)Social-networkthatallowsusersto create musicthrough the web (Treviso)Social marketplacefortravel, whereexperts can provideuserswith information and personalizedoffers (Milano)Virtual and Augmented Reality technology (Pisa)

15. 2010: Who are the next Italian Pioneers to Silicon Valley?The challenge is open: who’s next?

16. Hundreds of Business Plans received

17. 33 startups selected

18. During the Bootcamp we select the short list of 15 pitching @ Corrieredella Sera

19. The Top 6/7 are admitted to MTB Gym @ Pier 38 in San FranciscoItaly: Where are we?We have plenty of SMEs

20. SMEs are 98% of the total

21. We are mostly positioned on mature business and services

22. Services is 67% of GDP, while Manufacturing is only 24%

23. Innovative sectors play a minor role (2-5%)

24. We need a new wave of startups, operating on innovative fieldsITALY: INDUSTRY CONTRIBUTION TO GDP (2009)Source: CrESIT 2010

25. Starting up Business in Italy:Key IssuesA few startups often lacking high-quality business plans (deal “trickle”)Legal barriers to entry and exit (Italy is not a “corporate haven”)Obstacles in bridging research into businessManagerial skillsHigh mortality rates (“crisi del primo miglio”) and “Dwarfism”Lack of an established venture capital communityMindsetNo exits on the domestic marketTechnology hot-shots aspire to sell out to new economy “leviathans”Small size of the stock market and lack of large corporations doesn’t helpLanguage barriersItalian Startups:MTB Participants ProfileStartup by GeographyIt is 14 months old77% originate in Northern Italy16% are incubated in a technology park20% are an academic spin-off46% are Web-based firmsThe founder’s team is composed of 3/4 peopleOnly 7% have just one founder97% are looking for fundingInitial capital investment is €33k19% received some external funding (mostly research grants)Source: Mind the Bridge - CrESIT 2010Source: Mind the Bridge - CrESIT 2010

26. He/She is 3586% is male, only 16% is female67% has a scientific/technological background , while 33% has a business/humanistic education42% holds a Ph.D. or MBA33% got it abroadOnly 5% does not hold a university degree28% has prior entrepreneurial experienceItalian Entrepreneurs: MTB Participants ProfileSource: Mind the Bridge - CrESIT 2010

27. What does make a succesful StartupLessons learnedEducation matters a lot2.0 Startups are founded by highly educated peopleExperience matters as wellBeing a serial entrepreneur is a jobThe right startup is never the first one you foundWorking/Studying abroad does open your mindIt means more network, opportunities, ideas, experienceA successful startup is a team effortOne-man bands do not go too far

28. Areas of improvementLessons learnedWe need more female entrepreneursBreak cultural barriersWe still need more academic spin-offsLack of efficient technologytransfer offices Universities do not offer incentives forlecturers to spin-off business initiativesItalian scientists do not think businessScarcity of skilled executives withstrong entrepreneurial skillsSource: Piccaluga 2007

29. THANK YOU FOR YOUR ATTENTIONSOCIAL MEDIA: Facebook: Mind the Bridge - Connecting TalentTwitter: MindTheBridgeBLOGS: mindthebridge.blogspot.comsiliconvalley.corriere.itUSEFUL LINKS: www.mindthebridge.orgwww.cresit.it