In 2022, investments in startups in Turin will double: €400 million in capital has been raised by innovative companies, accounting for 22% of venture capital investments in Italy, which closed the year with €1.8 billion. Over 80% of the startups that have raised capital have a predominantly international vocation and operate in the hi-tech sector. The city's innovation system counts more than 27 accelerators and incubators, 25 professional investors in Venture Capital with financial availability of more than €1 billion over the next five years.
A framework of great growth emerges from the results of the third edition of the Research on Startups and the Innovation System in Turin, presented yesterday by the Club degli Investitori. Most of these investments went to hi-tech companies: DeepTech, Energy & CleanTech, Life Sciences, Software & Cybersecurity, Mobility & Automotive, which represent the sectors in which most of Turin's innovative companies operate (68% of the total). Turin is thus confirmed as the second city in Italy for Venture Capital investments, after Milan, and the first for investments in hi-tech. It is worth noting that Newcleo, a startup in the nuclear energy sector, raised €300 million, equal to 75% of the total funding. Even net of this operation, Turin remains the second largest city in Italy.
An analysis of the investment rounds also showed that 81% of the startups that raised capital in 2022 have a predominantly international vocation. Looking at the top 10 companies by size of round, 100% are active in foreign markets or state that they will use the capital raised to do so.
The Research also analysed the characteristics of the 671 innovative startups and SMEs (+11% annually) registered in the Companies Register and, to go into more detail, interviewed 150 entrepreneurs. Another positive finding from the analysis of the balance sheets of startups alone is the trend in the average value of production, which was €203,000, up 53% year-on-year and only 4% lower than the national figure (it was 27% lower in 2020). The total turnover of innovative start-ups and SMEs was EUR 289 million and the number of jobs generated was over 6,500.
In addition, from the interviews emerged some requests to the city: entrepreneurs ask for a greater presence of investors, more networking, and wish to raise funds from Business Angels and Venture Capitals, the so-called 'smart money', which they say they find difficult to find. In order to better understand the presence of capital in Turin, this year's research also included direct interviews with the city's accelerators, incubators and investors which revealed a rich and dynamic innovation system: in fact, the interviewees stated that, overall, they have more than 1 billion in funds available over the next five years. The city has also already set in motion to create more opportunities for dialogue between entrepreneurs and investors, just think of the networking meetings, which started at the end of 2022, of ToTeM Torino Tech Map, the only platform of its kind in Italy, or important sector events such as Italian Tech Week, the main Italian tech conference held every year at the OGR Officine Grandi Riparazioni, which is the most important innovation hub in southern Europe.
Finally, in the comparison with other European cities (Munich, Rotterdam and Lyon), Turin lags behind in terms of the number of innovative companies present and their density per inhabitant, while it overtakes Lyon and Rotterdam, in terms of its ability to attract capital.
Giancarlo Rocchietti, President of Club degli Investitori, said: "The innovative startup system is rapidly transforming Turin from an industrial to a high-tech city. It is a city rich in capital and technology and has started to attract the first international start-ups. However, to consolidate its position in the global innovation ecosystem, Turin should increase the number of startups to at least 1,000, identify priority sectors more precisely and strengthen the training and entrepreneurial spirit of new entrepreneurs".
During the presentation event of the Report, powered by ToTeM Torino Tech Map, in addition to Giancarlo Rocchietti, President of the Club degli Investitori, who illustrated the results of the Research, Enrico Cattaneo (The Doers), Irene Cassarino (The Doers), Fabrizio Barillari (Electra Vehicles), Simone Pollano (Tevel Aerobotics) and Francesco Signorato (Nebuly) spoke.
The research was carried out by Club degli Investitori with the collaboration of Comitato Torino Finanza, ESCP - Business School, Growth Capital and ToTeM Torino Tech Map..
(Source: Club degli Investitori press release)
