Italy

Turin

MEMBERS:
Fondazione Compagnia di San Paolo Intesa Sanpaolo Innovation Center

"Turin has turned into an international hub for innovators. It has what it takes to attract high-potential startups eager to settle and thrive in our fast-evolving ecosystem."

Francesco Profumo
Chairman, Fondazione Compagnia di San Paolo
Top 40 European Ecosystem in Funding
Top 35 European Ecosystem in Affordable Talent

Highlights

Turin, in northwest Italy, may be best known as an automotive center, but local stakeholders are working hard to transform the city into a test bed for cutting-edge technologies, particularly in the field of Smart Cities.


Startups in Turin benefit from its concentration of large corporations, including Stellantis, Iren, IVECO–CNH, Italdesign, and Pininfarina, as well as innovative SMEs. Open lab initiatives led by Turin Municipality, such as CTE Next, provide unparalleled testing infrastructure.

  

Thanks to a strategic partnership between Fondazione Compagnia di San Paolo, Intesa Sanpaolo Innovation Center, and Fondazione CRT, Turin has hosted the Torino Cities of the Future Techstars Accelerator since 2020. This program has graduated 35 companies from three continents which have launched 30 partnerships with local stakeholders and have raised more than $47 million.


Opened in November 2021, the ESA Business Incubation Centre Turin aims to nurture innovative Space Economy companies. Startups will receive €50,000 for product development and IP management, coaching, and fundraising support.


There is no shortage of qualified investors in Turin. Neva SGR combines the strength of Intesa Sanpaolo Group with the best practices of international VC firms. It has raised €250 million ($271 million) to invest in Fintech and Deep Tech startups, including the Italian aerospace company D-Orbit. Tech investment boutique LIFTT has an investment target of €90 million over the next five years and has already finalized 25 investments, including Newcleo, a disruptor in next-generation nuclear reactors. Turin has been included in the National Accelerators Network run by CDP Venture Capital, which supports the growth of the Italian venture capital ecosystem.

Ecosystem by the Numbers

TOTAL EARLY STAGE FUNDING
(2019H2-2021)
$104 m
GLOBAL AVG.
$687 m
ECOSYSTEM VALUE
(2019H2-2021)
$654 m
GLOBAL AVG.
$28.6 bn
MEDIAN SEED ROUND (2019H2-2021)
$340 k
GLOBAL AVG.
$671 k
MEDIAN SERIES A ROUND (2019H2-2021)
$1.7 m
GLOBAL AVG.
$4.7 m
SOFT. ENGINEER SALARY (2021)
$32 k
GLOBAL AVG.
$46 k
252 m
GLOBAL AVG.
11.3 bn
25
GLOBAL AVG.
101
Amount ($)
Count (#)

Exits

(2017-2021)
EARLY-STAGE FUNDING GROWTH TIER (2018/19 VS. 2020/21)
9
Calculated on a scale of
1 (lowest) to 10 (highest)
TOTAL VC FUNDING (2017-2021)
$166 m
GLOBAL AVG.
$4.5 bn
TIME TO EXIT (2017-2021)
10.8 years
GLOBAL AVG.
9.4 years

Sub-Sector Strengths

Smart Cities

Turin is the birthplace of Planet Smart City, the global leader in smart affordable neighborhoods. Torino City Lab, a platform for testing next-generation urban innovations, has run more than 50 trials with innovative companies including Mobileye, an Israeli advanced driver-assistance systems firm acquired by Intel, and Skypersonic, a U.S.-based listed company that opened an R&D center in Turin.

AI, Big Data & Analytics

Thanks to a fast-moving ICT sector, Turin is at the forefront of data-driven innovation. In 2020, Intesa Sanpaolo, Google, and TIM created the Opening Future program to support the development of digital skills for schools and businesses. The project includes the creation of a Center of Excellence dedicated to AI at OGR in Turin, an industrial space turned into an innovation hub where industry, schools, universities, startups, and local institutions can share knowledge and develop solutions.

Reasons to Move Your Startup to Turin

Access to Talent

Turin is a hotbed of highly-skilled, internationally-oriented talent thanks to its two top-tier universities that host 110K+ students. Politecnico di Torino, supported by I3P (the best public incubator worldwide according to UBI Global), is a hub of tech talent, while Università degli Studi di Torino has 600 years of history and 159 degree programs.  

International Startup Programs

Turin has become recognized as a go-to place for world-class acceleration, incubation, and venture-building initiatives. More than 10 international programs are located in Turin, eight of which are opening their doors 2022. These new entries into the ecosystem include ESA BIC Turin (space economy), Magic Spectrum (5G & IoT), and VENTO – Venture Originator (industry-agnostic).

Testing Infrastructure

Thanks the cooperation of ecosystem facilitators including the 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 being safely deployed under 5G coverage in a dedicated area.

Selected Startup Organizations

Startup Genome Members

Key Ecosystem Players

Startup Genome
Partners

I3P
Iban Italian Business Angel Network
LIFTT
Torino City Lab
Unione Industriale Torino
VeM Venture Capital Monitor

Featured Articles from
Local Ambassadors

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