Italian innovation: Supporting Italian Creativity and Innovation in the Biomedical Field

Nov 17, 2018 446

100% Italian companies, which develop biomedical tools, or diagnostic electromedical devices, not only survive in a global market, but thrive and represent Italian excellence and innovation in the world and in particular, for example in the USA.

In order to further support the promotion and effective development of Italian bio-medical innovation abroad, it is vital to mention the role played by Italian associations in the sector, in Italy, to support initiatives and inventions - without which the latter could never take off.

 Italian associations in the sector, active throughout Italy, create a network of companies and SMEs in the sector, publish every six months, statistics that are very relevant for the 'Bel Paese' in the field of biomedical business. There are over 200 start-ups and biomedical companies in Italy - affiliated to associations and not only - and in the year 2018, in the totality of companies and start-ups there is an increase of about 2.20%, compared to the previous year - for companies in the sector.

 Moreover, groups of venture capitalists - throughout Italy - are drivers of innovation and represent a real support and network that gathers venture capitalists, entrepreneurs and scientists active in the biomedical field, which help to bridge the gap between an idea innovative and effective realization of an idea in a concrete form of product, such as an active biomedical virtual simulation with virtual glasses. Groups of high-risk investors give support by investing in projects and with the real financing of ideas or innovative products. 

The 'Venture Capitalistic” movement - given the existence of also Italian venture groups - points out that such phenomenon also exists in Italy and actively supports the propensity of innovation in the biomedical field and assistance in entering new markets. 

Without the assistance received from Italian industry associations, start-ups as, would never have ended up on the radar of European or American investors, and agents. 

Do not forget that in places such as the US, prominent personalities, such as Italian scientists, entrepreneurs and innovators who have become an integral part of great American innovative projects - such as Genentech – occurred thanks also to the Italian scientific push and know-how. Start ups and Bio-medical companies, working in genetics, doing research, in California in particular, have been successful - thanks to the support and academic and scientific knowledge of many diverse Italian scientists and researchers. 

The innovation within the biomedical field, is developing in parallel, with the phenomenon of the development of robotics and innovation within the field of education, for example the CEO of the company Logosnet, tells us about the following, on his works and on his innovative idea: "We were born as a Center of Studies in Psychology and Human Sciences Logos, in 1996 in Turin, planning training courses in collaboration with the School of Business Administration of the University of Turin, with the Order of Psychologists of Piedmont, with the most great Italian bank that at the time was called Istituto Bancario San Paolo of Turin, with some companies of what was (yet for a few) the Olivetti Group, with some public administrations in the North-West of Italy. 

In Italy we have worked and still work for primary customers and we have done and do applied research activities with prestigious universities such as Turin, Bocconi and Bicocca in Milan, Bologna, Luiss in Rome. Among other things we have more than fifty scientific articles and a dozen books, in one of which we also host the contribution of a Nobel Prize in Chemistry very active in "flipped learning". Considering that we are a boutique (high-end) and that applied research we do not reduce ourselves to replicants of a single recipe repeated over the years until exhaustion ... it seems an excellent result. Since 2003 we have started expanding into Europe and since 2006 the first intercontinental trips have begun. The Logosnet network has been joined and continues to develop at the Centro Studi Logos, which over the years has developed projects with clients and exceptional research centers (including Harvard and Stanford). "Companies like that of Logosnet, represent Italian innovation in Europe and in the World, and have ample opportunity for expansion and growth in global markets. 

Italian excellence in the bio-medical and robotics sectors is nationally and internationally known, in the USA and in Europe. There are in the USA - in particular in California - hundreds of bio and medical companies, or those working in genetics, have within the team, Italians - scientists or developers or in any case – individuals of support from the “Bel Paese” as part of the team adding value with their technical and “foreign” know-how. 

As far as the data concerning the export of innovative Italian biomedical products to the USA are concerned, in terms of value, the USA, reminds us, of Ms. Paolinelli - expert in business strategy with the mission of promoting in particular what concerns the development of expansion strategies in foreign markets of companies and innovative start-ups in the biomedical sector - that: "Italy exports over US $ 2 billion worth of value in the US- in the biomedical sector. This figure is relevant as many Italian innovative companies, forget that there is an actual request and a very real demand for such products from Italy. 

Italian products destined for export from the beautiful country are in tons and it is up to business strategists to assist innovators and developers in terms of expansion and testing new markets, they cannot do it alone, since their area of expertise is merely usually, science, not strategic marketing, not strategic business planning or well though out expansion plans – also considering risk management ops". 

Moreover, Dr. Paolinelli, due to her experience with technical support offered to various start ups, internationally, reminds us that: "innovative companies - in the biomedical sector - even with non-exclusively Italian backgrounds - today – must face competitive markets, in which every day there is new research being put fourth and new groundbreaking innovations coming to life. Diverse markets are truly cut throat at the moment for even the greatest of innovator.” 

And as I understand it also, from my International studies and personal experience,  these companies, inventors, cannot navigate competitive waters alone, there must be strategy, a study of real risk management – inventors, developers, must rely on the help of those capable to strategize best, according to the innovator’s needs, to their product, to their market and to the diverse local realities – international businesses strategizing is very much vital. 

Chiara, while discoursing also adds: “Strategic assistance, along with having qualified personnel on the start -up team, or within the company, along with having qualified scientific personnel, and also having, as an innovator and businessman, a certain openness to risk, so being okay with also the "trial and error" approach in the development process of the product or business – will help companies and start ups thrive. In addition, with realistic a business plan and a serious approach in front of VCs - to obtain a real "financial backing" – would help start ups to develop the innovative product to the maximum". Ms. Paolinelli reminds us then, that there are really great Italian researchers in the world who are carrying out tests and studies in the biomedical field, such as Dr. Pisegna, based in California, who is an Italian Professor and working on "ground breaking" projects, it is truly an honor to be Italian and meeting these wonderful researcher, developers, businessmen and women, who are working so hard to push innovation, in the scientific field of bio-tech, which is ultimately meant to help all women and men alike – worldwide. 

While going back to what is happening in the field of bio-medical development on Italian soil, the Italian associations – located all throughout Italy -that assist biomedical companies, are truly key elements to supporting process of new start ups in creating new and creative projects in the field. Italian Associations of the field are vital to the first stages of supporting the idea/innovative plan, while the very real trust placed in the hands of strategic agents that act as bridges between the innovative process started in Italy, and the ultimate landing of the innovative bio-med idea in new markets – is the second step to success – and third but of course not the least, is the market testing – or market of entry of the innovative idea, being that of the US, or whichever, it must be one that welcomes innovative thinking, groundbreaking research ops, and presents open minded researchers, investors prone to taking risks and wanting to push fourth the future with truly new ways to educate, assist and improve, in some major – or minor – way, the lives of others.

You may be interested