PARTNERSHIP Italy - UK

BUSINESS | 07 www.italchamind.eu PPM: TechItalia is first and foremost a community of like-minded professionals interested in innovation, in the digital sectors and, of course, in the Italian tech-ecosystem. It was founded in London in 2014 by a small group of Italians who worked in tech related sectors in London and who wanted to support Italian start-ups. Back then, we noticed a growing number of Italian professionals moving from the traditional banking and finance sectors to tech, a trend that has continued for the past 5 years. Since our beginning, we have organised over 50 meetups and 8 between acceleration programmes and bootcamps. ICC: What is TechItalia’s mission? How do you pursue it? PPM: TechItalia’s mission is to support promising founders and growing businesses with Italian heritage (with at least one Italian co-founder, it does not matter where based). We aim to reinforce the bridge between Italy and the UK within the digital sectors. ICC: Why did you settle your community in London? PPM: London is home to over half a million Italian residents and, at the same time, to the largest tech community in Europe. It was the natural place where to set up a support base for innovative entrepreneurs. Besides, it is the headquarters of my coworking business (eOffice), providing an ideal logistic base for the community and our acceleration programmes and events. ICC: Considering your experience, which opportunities can Italian start-ups seize in the UK market? PPM: Apart from the ample access to funding (via our connection to angel investors, family offices and VCs), we are speaking of the the main Anglo- Saxon market in Europe, which is easy to access from Italy (one-hour time difference and two-hour travel time). The country has world-class universities and a diverse labour force, with great opportunities for networking and to meet potential partners. ICC: Based on your experience working with Italian start-ups, what are their limitations/deficiencies when accessing an innovative market like the British one? PPM: The UK tech system is very competitive and sophisticated. For every £1m available to invest, there are +1,000 start-ups fighting for it. We have seen some excellent entrepreneurs and some fantastic success stories delivered by outstanding Italian founders (Soldo, YourMD, MoneyFarm, Oval Money, Depop, Rentuu, just to name a few). While the Italian tech ecosystem has developed well in the last few years, it still lags behind several European countries and the number of start-ups per capita is really low. Furthermore, in my opinion, the Italian education system has not been updated for decades, and there is little culture of risk-taking. We often see would-be investors with poor language and presentation skills. That being said, there are many hard-working and smart young Italians from every region, and I am confident we will see some stellar companies developing in the future. ICC: Do you think Brexit will reduce the appeal of doing business in the UK for Italian start-ups? PPM: Brexit is certainly causing a slowdown and uncertainties all over Europe. This should be a time to connect the large tech ecosystems and work in partnership, rather than watching the USA and China speeding ahead. However, I think that London in particular, because of its mere size (being the largest city in Europe), diverse workforce, high quality infrastructure and traditional pro- business regulations, will continue to do very well in the tech field, and therefore will continue offering good opportunities for Italian start-ups and scaleups. And we all hope that politicians will eventually be able to avoid a very damaging hard Brexit. ICC: What are TechItalia’s future projects in order to strengthen the link between Italy and the UK? PPM: We want to continue developing our community (now +3,000 members, +60 alumni start-ups, +150 mentors, +50 partners and growing), showcasing Italian innovation and assisting entrepreneurs in their growth path. We aim at building strong partnerships at both corporate and public sector levels, connecting Italian, British and European tech ecosystems. · Photography courtesy of TechItalia Hotel Eden in Andalo, Italy