Turin recorded 675 innovative startups and SMEs, marking an increase of 0.6%, in contrast to the national decrease of -3.5%. 63% of these companies are active in high tech and in particular in the deeptech and aerospace, energy and cleantech, life sciences, software and cybersecurity, mobility and automotive sectors. This is the main data that emerges from the initiative of the Investors Club, in collaboration with ToTeM and with the support of ESCP Business School and Growth Capital, which publishes the results of the fourth edition of the “Research on startups and innovation system in Turin”. In 2023, the biotechnology sector remained the most attractive in terms of investment volumes, while the number of funded startups grew from 40 to 60 compared to 2022 thanks to the increase in companies in aerospace. Turin-based startups raised funds totaling €65 million in 2023, showing a significant decrease from €400 million in 2022. However, excluding investments in Newcleo, Turin shows a reduction of 35% compared to 2022, being slightly more resilient than the national decrease of -37%. In Turin there are more than 30 incubators and accelerators, and over 20 professional investors with a potential endowment of one billion euros for venture capital operations, globally, in the next 5/10 years. Turin maintains its position as Italy’s second largest city, taking into account both the volume of investments and the number of startups funded. The majority of entrepreneurs and investors suggest that Turin focus its efforts on aerospace and deeptech, and life sciences as the main sectors on which to focus in order to bridge the gap with other comparable European cities. Giancarlo Rocchietti, president of the Club degli Investitori, said in a note: “The system of innovative startups is rapidly transforming Turin into a high-tech city, rich in capital and technology and capable of attracting startups and international talents. To grow its position in the global innovation ecosystem, Turin should identify with greater determination the sectors on which to focus, strengthen the interaction between the public and private sectors and act on the training and entrepreneurial spirit of young people”. (Photo by Marie Rouilly on Unsplash) The search is available here.
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