Tech Europe Foundation Established
A non-profit foundation promoted by its founding members Fondazione Politecnico di Milano, Bocconi University, ION and FSI, the Tech Europe Foundation (TEF) has been established in Milan. TEF’s goal is to create an ecosystem that fosters collaboration between academic research, companies and startups, integrating entrepreneurial development with scientific innovation. The Foundation aims to establish an open environment where scientists, companies and startups can collaborate and grow together, helping to consolidate Milan as a center of excellence for technological and entrepreneurial innovation.
The project represents a virtuous example of public-private collaboration, with the aim of transforming Milan into one of Europe’s leading tech hubs. TEF focuses on fundamental research and creating a critical mass of new companies in the deep tech sector, based on scientific discoveries and technological innovations in areas such as artificial intelligence, biotechnology, microelectronics, aerospace and renewable energy.
Ferruccio Resta (Politecnico) andAlberto Grando (Bocconi) will be TEF’s President and Vice President respectively for the next three years, leveraging the expertise and labs of the two founding universities. The Foundation will operate according to three main pillars: funding basic research, scouting and supporting startups, and open innovation services for companies. The project will be based at Parco dei Gasometri in Milan’s Bovisa district, undergoing an important urban regeneration designed by Renzo Piano. When fully operational, 1,000 startups will be hosted annually. TEF has an initial fund of more than €100 million and has already launched a fundraising campaign. The Chamber of Commerce of Milano Monza Brianza Lodi has already contributed €50 million, and the goal is to raise additional funds to reach €1 billion by 2030.
"More than 20 years after creating its business accelerator, the time is ripe for Politecnico to be ready to make the leap towards a more international context by hosting an important ecosystem for innovation at the new Bovisa campus. 34,000m2 has been allocated to TEF to facilitate synergies between basic research, companies and local resources, all in a process of open innovation in the tech field that makes the city even more attractive for talent and investment," commented Donatella Sciuto, Rector of Politecnico di Milano. "The university guarantees there will be a solid basis for this ambitious project to grow thanks to spaces, labs and expertise. We have high expectations for the entrepreneurial development of both students and young entrepreneurs."
"Support of fundamental research, the startup ecosystem and open innovation promote a virtuous cycle that strengthens business competitiveness and drives innovation. Universities play a central role, providing advanced knowledge and specialized talent that help companies reduce development costs and accelerate innovation. Taking advantage of these discoveries, startups create competition, incentivizing companies to invest in new technologies. Thanks to open innovation, an evolutionary process is established for the benefit of the entire economic system," commented Andrea Pignataro, Founder and CEO of ION.
"We imagined TEF as a long-term generational project with the ambition of creating thousands of new technology startups to counter the chronic demographic problem at Italian companies," commented Maurizio Tamagnini, CEO of FSI. "Our goal is to keep our young scientist-entrepreneurs in Italy to convert the many innovative ideas produced into the companies of tomorrow, and allow Italy to maintain and strengthen its world leadership in family-run industrial capitalism."
"Strengthened by the important results achieved in recent years as an attractive and competitive innovation ecosystem, Milan is ready to establish itself as a global tech hub, able to compete with the large international metropolises," said Carlo Sangalli, President of the Chamber of Commerce of Milano Monza Brianza Lodi. "TEF is the way to face this challenge. As a Chamber of Commerce we are very proud to take part in this initiative with the experience we have consolidated over the years promoting an innovation paradigm accessible to all companies, as well as through policies supporting startups and innovative companies. We want to make our contribution to building a project that will allow us to further enhance the great wealth of talents, knowhow, entrepreneurial spirit and virtuous contaminations that have made our local area so great."
"The future of European innovation depends on the ability to invest in the talents of our young people and their vision. The ultimate goal of the Tech Europe Foundation is to equip our country with an infrastructure capable of helping new generations of young entrepreneurs who strive to transform scientific research and technological innovation into business," said Ferruccio Resta, President of the TEF Foundation. "Our goals are clear: 1,000 startups hosted annually and €1 billion to transform research and innovative ideas into tech companies. TEF is an open and inclusive entity, a vibrant ecosystem, which today is aimed at anyone who aspires to believe in the future of Italy and feels a responsibility and passion to contribute, improving the country so that it can become a leading player in technological innovation."