The Young Entrepreneurs Group of Confindustria met on 12/20/2011 to discuss internationalization strategies for SME’s. Rosario Branda, Director of Confindustria Cosenza, cited a recent study that forecasts a longer-than -expected recession until mid-2012. According to the study, in 2013 the global economy will start expanding again, thanks to a growth in demand from the emerging countries.
Paolo Filice, President of the Young Entrepreneurs Group, explained why he chose internationalization as the theme for the last meeting of the year. He said that it is important to try to connect entrepreneurs interested in expanding abroad with supporting organizations and investors.
Giuseppe Gaglioti, President of the Chamber of Commerce, mentioned that many small companies are not ready to enter foreign markets given the increasing competition created by the world economy.
Domenico Quaglio, President of Bridges to Italy – Italia, introduced the objectives of the non-profit association, namely to connect Italian innovative companies with US Capital and managerial skills. Marco Iusi, coordinator of Bridges to Italy’s CERVELLI IN MOVIMENTO AWARD, explained how the award was developed to help young Italian entrepreneurs in their globalization efforts while providing them the tools to stay in their home country. The winner of the 2011 edition of the Award, Professor Marco Castriota, gave a testimonial about the experience of his startup which, thanks to the competition, went to Southern California and could present its energy savings innovation to the largest Angels investor organization in the United States.
The Italian TV Channel TELECOSENZA covered the workshop on Angel investing led by Mike Napoli, Chairman of Tech Coast Angels, the largest angels investors organization in the United States. The workshop took place at Technest, the newly inaugurated incubator of the University of Calabria.
Mike Napoli addressed an audience formed by the participants of the Brains in Motion Award, a Bridges to Italy’s initiative for Southern Italian technology startups. In lay terms Mr. Napoli explained step by step what, beyond the uniqueness of the innovation, U.S. angel investors seek when evaluating potential investments. Even though, there is much talk about Venture Capital and Angel Investing throughout Italy, it is rare to see someone of the caliber of Mike Napoli come to Italy and especially to the South and establish this type of dialogue and mentoring with the local tech community whose growth is often penalized by a lack of national and international business connections and infrastructure.
Additionally, from Germany, the President of the Jury Panel which will select the winner of the award, Sandra Savaglio, intervened encouraging the young innovators to keep going forward regardless of difficulties and take advantage of opportunities such as this award to increase their visibility and links to the United States. Finally, from Florida, Dr. Sandra Mondello, and her executive team from Banyan Biomarkers as well as the Associate Director of the Sid Martin Biotech Incubator, gave biotech startups some insights on getting funded in the life sciences sector.
