The week in Italian startups - Issue #45
Venture builders are being built
IPOs, SPACs, and other company news
SPACs (Special-Purpose Acquisition Companies) have been all the rage in the USA since 2020, with Europe largely missing out on the phenomenon.🇮🇹 But some Italian firms and investors have set up a few US-based SPACs and raised almost $1Bn.
Vevo, a music video platform, launched Moods, an advertising product targeting users based on their mood. The intelligence behind the product has been developed by Musixmatch, a Bologna-based music data&lyrics company.
A2A's approach to corporate innovation
A2A, a utility company, has developed a sophisticated innovation program. It includes open innovation challenges and corporate venture capital efforts, involving direct investments in startups operating in sectors aligned to A2A's strategy, and collaborations with universities and TTOs (such as the PoliMi).
The company has recently published its corporate innovation program guidelines, which feature a "startup kit" with the promise to move fast, with a full-digital process, and with pre-defined and clear payment terms. There are currently two open challenges on the platform.
I wish more Italian corporates followed suit.
Impact investments in Italy
EconomyUp 🇮🇹 published an article about impact investments in Italy, including a comparison with other European countries. Long story short: we have a long way to go. The good news is that EneaTech, the newly-created foundation with half a billion under management, launched a dedicated investment track on green and circular economy startups. Their call for startups is open.
Forward Fooding published the 2020 FoodTech 500, a list of food tech startups from >50 countries, ranked on "their business size, digital footprint, and sustainability practices."
Next Tuesday (23/2, from 14:30 to 16:00) I will be taking part in the presentation of the EY Venture Capital Barometer - Italy 2020. Feel free to sign up for the online event to know more about the "2020 in Italian Venture Capital" 😊.
Stay safe, and have a great week.