Ignazio Visco, the governor ofĀ Ā Banca dāItalia,Ā speaking at the annual meeting of Assiom Forex last weekend said that private capital and fintech investments may support the growth (see here aĀ previous post by BeBeez). Italy has to improve further the efficience of its private capital market in order to offer other credit channels further than the banking sector. Regulators have to update their compliance systems for auditing fintech players.
In Italy operate 171 incubators and accelerators for startups. TheĀ Report about Italian incubators and acceleratorsĀ ofĀ Social Innovation MonitorĀ ofĀ T Ā said that 60% of the accelerators is based in the North, (25.3% in Lombardy) (See here aĀ previous post by BeBeez).Ā Italia StartUp, Banca Etica, Compagnia di San Paolo, Impact Hub Milano, Instilla, IREN, Make a Cube3, SocialFare,Ā andĀ Social Innovation Teams ā SITĀ provided collaboration for this Report. Most of the incubators are private (64.2%), government backed – private (21.8%), and fully government backed (13.9%). In 2017, 1.344 entrepreneurial teams and 2.435 startup received support, while 21.4% of incubated startups operate in health and wellness sector. In the same period, incubators generated revenues of 222 million of euros, 1.30 million on average. Turin Polytechnic Professor and editor of the reportĀ Paolo LandoniĀ said that there is a significant increase of the attention of the business community for the social impact.
Insurtech startupĀ Yolo (You Only Live Once)Ā raised 5 million of euros with a series A financing round thatĀ Neva Finventures, the corporate venture capital ofĀ Intesa Sanpaolo, led together withĀ Primomiglio,Ā Net Insurance, andĀ Miro VenturesĀ (see here aĀ previous post by BeBeez). Yolo sells on demand and pay per use insurance products on a daily and monthly basis.Ā Simone Ranucci Brandimarte, founder ofĀ BuongiornoĀ andĀ Glamoo,Ā and chairman of AIM-listedĀ Digitouch, founded Yolo together with ceoĀ Gianluca de CobelliĀ (previously working forĀ CartaSƬ, Amex, EY, andĀ Reply). Yolo will invest these proceeds in the development of its insurtech platform and selling its products in countries like Germany and Turkey.Ā Mario CostantiniĀ is the ceo of Neva Finventures and coo ofĀ Intesa Sanpaolo Innovation Center. He said that the investment in Yolo has strategic synergies withĀ Intesa Sanpaolo AssicuraandĀ Banca 5.Ā Alessia Truini, head of the Protection coverage ofĀ Intesa Sanpaolo Assicura, joined Yoloās board.
