“We are moving fast to place Torino on the global map of innovation ecosystems. A number of tangible results prove that today we are one step closer to that goal.”
Turin may be best known as an automotive center, but local stakeholders are on a mission to transform the northern Italian city into an international hub for innovators, particularly in the field of Smart Cities and space technology. Such a transition is epitomized by the evolution of ToTeM – Torino Tech Map, a web directory of startups, investors, and enablers. In 2022, ToTeM launched a new series of monthly in-person events to gather the local startup community and thus boost local connectedness.
Qualified investors play a pivotal role in Turin's thriving ecosystem. In 2022, Neva SGR closed its first flagship fund of €250 million to back European and global startups. To date, Neva SGR has invested €150 million in 26 companies, with a third of its investments allocated to Italian startups. Additionally, Neva SGR announced its plans to raise a second, larger fund, expected to conclude in 2024. In 2022 Neva SGR also launched Fondo SEI (Sviluppo Ecosistemi di Innovazione) for supporting the innovation ecosystem with primary focus on implementation of startup research, selection, acceleration, and professionalization programs in Italy.
The tech investment boutique LIFTT has an investment target of €90 million over the next five years and has already completed 36 investments. The gem in its portfolio is Newcleo, a disruptor in next-generation nuclear reactors that unveiled a major investment plan of €3 billion in France by 2030. In June 2022, Google Cloud announced expansion in partnership with TIM and Intesa Sanpaolo into Italy in Milan, with another location to come in Turin.
Ecosystem by the Numbers
Turin is one of the 100 cities selected by the European Commission to take part in the EU mission for climate-neutral and Smart Cities. Turin’s commitment to tap into tech innovation to achieve climate neutrality by 2030 relies on a number of flagship initiatives. These include Torino Cities of the Future Techstars Accelerator, the first program run by Techstars in Italy, and Torino City Lab, a platform for testing next-generation urban innovations related to green and digital transitions.
AI, Big Data & Analytics
In March 2022, Intesa Sanpaolo announced the establishment of CENTAI, an advanced AI research center, and in June 2022 the incorporation of the Anti Financial Crime Digital Hub, a consortium fighting digital financial crime through the use of AI whose founding members include Intesa Sanpaolo, Intesa Sanpaolo Innovation Center and CENTAI. Artificial Intelligence, Humans, and Society is an initiative from Fondazione Compagnia di San Paolo that explores frontier AI applications to unleash transformative impact on industry and society.
Reasons to Move Your Startup to Turin
Access to Talent
Turin is home to 110K+ students, many of them international, and several prestigious universities. Università degli Studi di Torino has a 600-year history and offers 159 degree programs. Politecnico di Torino is one of the best engineering universities in Europe, and its startup incubator, I3P, was named the best public incubator worldwide by UBI Global. The planned Italy Digital Nomad Visa will make it easier for international talent to relocate here.
International Startup Programs
Turin is widely recognized as a premier destination for world-class acceleration, incubation, and venture-building initiatives. More than 10 international programs take place in Turin each year. Among the new entries that commenced operations in 2023 are Magic Mind (the first AI program launched in Italy) and Personae (a one-of-a-kind program on welfare tech).
Through collaboration among ecosystem facilitators — including Intesa Sanpaolo Innovation Center and Fondazione Compagnia di San Paolo, the municipality, corporations, and high-tech SMEs and startups — Turin has become an open-air laboratory where autonomous vehicles and drones are safely deployed under 5G coverage within specially designated areas.
Selected Startup Organizations
Startup Genome Members
Intesa Sanpaolo Innovation Center
Intesa Sanpaolo Innovation Center is a subsidiary of Intesa Sanpaolo Banking Group dedicated to innovation. It invests in applied research projects and, through the management company Neva SGR, in high-potential startups. Intesa Sanpaolo Innovation Center supports startups’ growth in domestic and international markets through acceleration programs and networking. In addition, it accelerates the implementation of the circular economy plan, to make Intesa Sanpaolo the driving force behind a new socially and environmentally aware economy.
Fondazione Compagnia di San Paolo
Established in Turin in 1563, Fondazione Compagnia di San Paolo is a banking foundation acting as the major shareholder of Intesa Sanpaolo. It is one of the largest private foundations in Europe, as evidenced by its €1.5 billion of philanthropic grants in the last decade. As part of its mission to promote cultural, civic, and economic development, the foundation is today one of the leading ecosystem developers in the Italian landscape.
Key Ecosystem Players
Torino Cities of the Future Techstars Accelerator
Neva aims to be the Italian market maker of the VC investments to boost the tech economy. The First fund, launched in 2020, raised €250 million from 130 subscribers and invested in 20 startups for €80 million. In 2022, Neva launched Fondo SEI with an initial €15 million capital to support innovation ecosystems.
News from the Ecosystem
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