Marco Marinucci - Mind the Bridge - Stanford - 2010

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Marco Marinucci - Mind the Bridge - Stanford - 2010

  1. 1.
  2. 2. STATE OF ENTREPRENEURSHIP IN ITALY<br /><ul><li>Lack of large companies
  3. 3. In Italy SMEs are 98% of the total
  4. 4. Mostly mature business
  5. 5. Primarily Services (67% of GDP), Manufacturing is only 24%
  6. 6. Innovative industries play a minor role (2-5%)
  7. 7. Strong family business vocation
  8. 8. “One man only at the helm.”
  9. 9. “Companies are life-long enterprises.”
  10. 10. “First get some revenue, and then invest.”
  11. 11. “Think real.” </li></ul>ITALY: INDUSTRY CONTRIBUTION TO GDP (2009)<br />2<br />Source: CrESIT 2010<br />
  12. 12. STATE OF VENTURE FINANCE IN ITALY<br />[Source: Dow Jones Venture source, PWC/National VC Association, AIFI]<br /><ul><li>Lack of an established venture capital community
  13. 13. Of the €4.5B invested yearly (avg. 2006-2008), approximately €70M went to early-stage investments (AIFI & Pricewaterhouse­Coopers 2008)
  14. 14. Only 186 start-ups were able to get funded in the last three years, with an average deal size of €0.5M to €1M (AIFI & Pricewaterhouse­Coopers 2008)
  15. 15. In H1 2009: 46 early stage deals (€56M invested) (AIFI & Pricewaterhouse­Coopers 2009)
  16. 16. Small size of the stock market does not help
  17. 17. The stock market capitalization to GDP ratio is lower than 60%, versus 140% in the United States and 170% in the United Kingdom (IMF & World Federation of Exchange)
  18. 18. The aforementioned lack of large companies makes the exit from investment difficult</li></ul>3<br />
  19. 19. STATE OF ITALIAN R&D<br /><ul><li>Quality basic research
  20. 20. Cumulative R&D investments are €17B (4% of GDP), whose 30% from universities and 20% from public and non-profit (ICE, Cotec, Istat)
  21. 21. 400k scientific publication in the period 1998-2008 ranking 8th in the global classification (7th for number of citations) (Thomson Reuters, 2008)
  22. 22. Biotech: 750 clinical trials in progress during 2007 (Blossom-Assobiotec 2009)
  23. 23. Issues in turning research into business
  24. 24. Lack of efficient technology transfer offices
  25. 25. Universities do not offer incentives for lecturers to spin-off business initiatives
  26. 26. Scarcity of skilled executives with strong entrepreneurial skills
  27. 27. Italian scientists do not think business</li></ul>4<br />
  28. 28. ITALY: KEY ISSUES<br /><ul><li>Deal flow (# deals and quality)
  29. 29. High mortality (“crisi del primo miglio”)
  30. 30. Bridging research into business
  31. 31. Mindset
  32. 32. Managerial skills
  33. 33. Exit on the domestic market
  34. 34. Technology hot shots aspire to sell out to new economy “leviathans”
  35. 35. Language barriers</li></ul>5<br />
  36. 36. BUILDING THE BRIDGE: THE PILLARS<br /><ul><li>Discovering and Nurturing the Italian Talents (MtB Italy Tour 2010)
  37. 37. Selecting the best of breed (Annual MtB Business Plan Competition & MtB Call for Ideas)
  38. 38. Providing training & education to the new generation of entrepreneurs (MtBBootcamp and Coaching)
  39. 39. Showcasing the most promising startups and opening an international debate (MtB Venture Camp @ Corrieredella Sera)
  40. 40. Hosting&mentoring the most promising startups in the Silicon Valley (MtB Gym)
  41. 41. Pitching US investors / partners (MtB Gran Finale events)</li></ul>Connecting Talent <br />MIND THE BRIDGE FOUNDATION <br />Not for profit..…… 501c(3) California<br />Independent………… fundedbydonorsnotgovernment<br />Ecosystem.……..…… partneringwith the mostrelevantactors<br />6<br />
  42. 42. Does Success Depend on Forces Outside Our Control?<br />
  43. 43. A SUCCESSFUL JOINT VENTURE<br />8<br /><ul><li>80 business plan presented last year, 200+ expected this year
  44. 44. 300+ people crowding SalaBuzzati last November
  45. 45. 9,000 people attending the event in streaming (40% from outside Italy)
  46. 46. 150+ people attending the Gran Finale at Stanford on March 18th
  47. 47. 100 people attending the Gran Finale in NY (Italian Consulate) on March 25th
  48. 48. Over 30 road-shows in Italy in the period Feb-Apr, 2010, 2.000+ students and researchers attending
  49. 49. 3,000+ people subscribing our Newsletter, 750+ fan on Facebook: a growing community
  50. 50. Blog on corriere.it (Silicon Valley) with really nice feedbacks</li>

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