Entrepreneurship in 10 Stories
FROM THE CREATION OF A HIGH RESOLUTION MICROSCOPE, TO THE HUNT FOR THE MOST HIDDEN MADE IN ITALY PRODUCTS: TEN STARTUPS THAT HAVE PASSED THROUGH THE PREACCELERATION AND ACCELERATION PATHS OF B4I, BOCCONI FOR INNOVATIONDoctorsinItaly
Somebody call a doctor who speaks my language
Before leaving, you never think about it, but when you happen to get sick during a trip abroad, you always remember it. The anxiety of needing a doctor and not knowing who to contact is common in all tourists, including those arriving in Italy, and it is from this awareness that Nadia Neytcheva and Francesco Maria Serino have created DoctorsinItaly. It is a platform that helps find a doctor with the linguistic and cultural skills necessary to assist people who are in Italy but do not know the language or understand the national health system. This is an ambitious project also because, as Nadia Neytcheva underlines, "With the transition to remote work and the return of tourism, Italy will see an increase in the presence of 'digital nomads' who will move to our villages and expect high-level medical assistance. Initially, with a first nucleus of doctors in a single city and in the most important specialties, we focused on the demand, which has grown steadily since the very start. Now our focus is on the growth of the supply side: the selection of doctors and health facilities throughout Italy.”
DoctorsinItaly was selected for the B4i acceleration program: “A perfect context for those who have already completed part of their project and are entering a new phase of growth. The search for product-market fit is a constant cycle and it can happen that you change your initial idea a lot. Bocconi for Innovation gave us the tools, the network and the support we needed to quickly explore different options that we had not considered.” It was after participating in the first batch, in the spring of 2020, that the two entrepreneurs launched Tivosito.it, a channel dedicated to video appointments, which allows you to see a doctor or a psychologist at any time, without leaving home and at a fee significantly lower than face-to-face meeting.
Quick Algorithm
Data analysis just like Big Tech
The algorithm is something indecipherable to most, but familiar to all as the mysterious engine of outfits such as Facebook, Google, and many other Big Techs. In fact, the possibility of using algorithms of a certain type, which process enormous amounts of data in real time, is the prerogative of a few, large companies. This is the situation that Jacopo Piana set out to change when he created Quick Algorithm, born from the idea of "democratizing the use of advanced data analysis, making it available to all companies.” To do this, Piana designed the Scops software and created a platform with a simple interface, in a social network style. Through these tools, companies, especially in the industrial and manufacturing sectors, can collect data that would otherwise be lost, analyze them, and identify waste, areas of intervention, anomalous trends, and anything else that can help improve production processes and save time and resources.
Quick Algorithm was already an active company when it entered the B4i acceleration program and had arrived at the right moment in which, “from the pilot phase we were preparing to move into large-scale production.”
The aid provided by the Bocconi program proved to be substantial, “from the point of view of stimuli for product improvement, management of the work process and, above all, the constant feedback received from the B4i team and other startups. In particular,” Piana points out “, we benefited from the legal support offered by the partnership with the prestigious Orrick law firm, which proved to be fundamental for us.”
Now that Quick Algorithm is “ready to scale” the next steps are the release of version 1.0 and, probably in June, the first round of capital increase.
Viamadeinitaly
The platform that brings Italian artisans out into the world
Made in Italy is a recognized and sought-after “brand” all over the world. For large companies such as those in fashion, these three words are synonymous with real possibilities of million-dollar business. However, for many artisan companies, which constitute the backbone of the Italian economy, they are often just pretty words. What more stimulating mission can there be, then, for a young startup, if not that of helping these businesses to reach an international audience? This is the commitment that Tommaso Zanin, Marco Reiter and Marco Mutto made when they created the B2B digital platform viamadeinitaly. Not a software that requires digital experience to be used, but an easy-to-manage system that is able to bring concrete contacts from around the world.
When the startup entered the B4i accelerator, it was perhaps the most advanced among the selected projects, but the Bocconi program was no less important for this reason: "First of all - says Zanin - it was very satisfying to be selected. After that, B4i has certainly refined our approach to our work, so much so that we still today use tools and methods we learned there. Furthermore, it has given us great credibility: I cannot deny that after the first demo day we were able to talk to various investors that we might not otherwise have reached.” But the program also left a more personal legacy, namely "the relationship created with the B4i team, not only in terms of mentorship for our business, but also in terms of harmony and synergy among the people we met".
Alki-vio
New Life for Paper Residues. As Alternatives to Plastic
One of the most important challenges of our time is safeguarding the environment in all its aspects. Among these, there is certainly the fight against pollution caused by plastic, a field to which the Alki-vio joint lab is making its contribution. The lab was born from the collaboration between the Smart Materials group of the Italian Institute of Technology (IIT) and the multinational Novacart, world leader in paper food packaging. Alki-vio researchers were able to discover how to transform the paper residues coming from Novacart production processes into new biodegradable and compostable materials that are an alternative to plastic packaging. Now, after years of research, the technology is market-ready, even if the startup in charge of doing so has not yet been established.
“The challenges we therefore have to face - says Alex Davis of Alki-vio - are many; first of all, from a technical point of view, to understand how to efficiently transfer our technology from the laboratory to an industrial scale”. As regards the business idea, however, support came from the pre-acceleration phase of Bocconi for Innovation (B4i), which helped Alki-vio develop the idea and analyze the potential of the technology from all angles. “We have learned interesting insights from the Lean Startup method, an approach that seeks to reduce as much as possible the time taken to optimize a product or make decisions on one's business through rapid confirmation or refutation of relevant hypotheses. In particular, we try to have our minimum viable product tested by partners and potential customers, to really understand what their needs are and propose tailor-made solutions". The battle against plastic has just begun.
Bryla
A Photovoltaic Patch to Treat Chronic Wounds
Bryla was born from the decision of three researchers from the Tissue electronics group of the Italian Institute of Technology in Naples, Francesca Santoro (Principal investigator), Ottavia Bettucci (Postdoc) and Valeria Criscuolo (Technician), to bring a basic research project to an entrepreneurial level. They are developing a wearable photovoltaic patch with a built-in 24-hour monitoring system, to treat skin wounds and improve the quality of life of many people suffering from chronic injuries.
Coming from research, the first difficulty encountered was to enter the dynamics of the business. Ottavia Bettucci says: "We had to study a lot and question our idea many times to be able to adopt an entrepreneurial perspective, and in this sense Bocconi 4 innovation was a program that literally opened our minds. Thanks to the lessons held by highly trained and stimulating people, we were able to examine Bryla's weaknesses and strengths, work on it and, with the mentor assigned to us, define ad hoc strategies for the project. It was truly a qualitative leap”.
Now Bryla's pre-acceleration process has ended, with a Demo Day that allowed the three researchers/entrepreneurs to get in touch with investors and experts in the sector. The road is still at the beginning, but the trust and awareness accumulated enable them look to the future with enthusiasm: "Now - concludes Ottavia - “we are focusing our efforts on finalizing the proof of concept so as to start the actual round of fundraising before of the summer".
Cargoful
Running a Small Fleet of Vehicles as Smartly as Large Logistics Companies
“B4i is a fantastic community of people that have the desire to experiment and get involved. Working in this dynamic environment allows you to grow and make other people grow”. It is with these words that Erica Pezzica, Co-Founder, COO and CFO of Cargoful, underlines the importance and pleasure of the experience lived within the B4i program. An experience that lasted about 4 months, during which the startup founded together with Filippo Tamburini expanded the team from 4 to 10 people, while also winning the "Startup for Milan 2020" competition promoted by the Municipality of Milan.
Cargoful is a digital application that allows small and medium-sized transport companies to have the advantages and technology usually reserved for large fleets of trucks and vans. The application allows users to track vehicles via GPS, offers a platform to digitally manage loads and documentation, and uses algorithms and advanced analytics to plan and increase the utilization of load capacity of vehicles.
The idea was born from the previous experiences of the founders who, upon coming into contact with the varied world of logistics and transport, discovered the problem of low utilization of fleet capacity in small and medium-sized companies. “We decided to create a platform that would allow these companies to exploit the advantages of technology and digitization in a simple and effective way to optimize loads”. “B4i has helped us from many points of view”, continues Erica. "The funds received allowed us to give a decisive boost to the development of the Beta version of the platform, while the B4i team helped us by setting the right pace in terms of the timeline of objectives to be achieved and advising us in all areas of business".
Genoa Instruments
Super-Resolution in a Microscope
If you are looking for a organization that takes shape during the years of university study, grows in the field of research and then seeks to take off in the business world, the history of Genoa Instruments is a perfect example. As told by Simonluca Piazza, one of the 5 founders together with Marco Castello, Paolo Bianchini, Giuseppe Vicidomini and Alberto Diaspro, the idea comes from their doctoral projects: "Our research and development work has always been oriented towards the creation of new techniques of biomedical imaging, new sensors and image processing algorithms. With Genoa Instruments we have decided to launch the first Italian company of super-resolution optical microscopy. Our instruments find applications in fields of the life sciences such as molecular and cellular biology, diagnostics and the development of new drugs". The research project started in 2014. Then, five years later, Genoa Instruments was founded and at the same time the development of the first prototype of the PRISM super-resolution microscope began.
The business venture is still in its infancy, but there has been no shortage of awards, the last of which is the entry into the Bocconi for Innovation (B4i) acceleration path: "The B4i team immediately proved to be extremely collaborative, offering expertise and support on every aspect, from fundraising and investor research to legal support, planning and enhancement of intellectual property, and networking”. At the end of the process, the startup presented itself to potential investors during the Demo Day: “To date, Genoa Instruments has collected about € 370,000, of which €30,000 come from Bocconi for Innovation. And the B4iI team and the Bocconi network will certainly support us in the next steps of our adventure.
Green Games
Environment Education Through Play
You can learn and have fun through (sustainable) play. This is the idea on which Alessandro Puppo and Davide Cifarelli founded Green Games, a startup that aims to “develop communication and environmental education video games for businesses.” After an initial attempt focusing on mobile video games for the consumer market, the two changed their strategy, exploring alternative ways to make the startup a business enterprise capable of expanding worldwide.
This is when the Bocconi University B4i pre-acceleration program came into play. Through the program, Green Games has gotten in touch with companies with a focus on environmental issues, and has realized how they invest thousands of euros in communication and environmental education using tools that fail to attract the attention of young people. Green Games thus decided to provide a B2B web, mobile and desktop video game development service for environmental education: "That way," explains Puppo, "the startup creates value for its customers, directly linking fun to a greater awareness of environmental issues. During the pre-acceleration process we met several experts and figured out how to make the idea of the project a reality.” But it didn't stop there, because Green Games was also selected for the acceleration program.
“This is one of the best opportunities for startups in Italy. We just finished the program, but the support we have received is invaluable.” Today Green Games wants to grow to be able to educate more and more people, so it is looking for determined and ambitious young people who have an academic background in sustainability to include on its team.
JiPay
Paying the Maid by Credit Card
Keep track of household expenses and offer domestic help a way to manage their finances. This is the idea behind JiPay, a startup launched by David Linsey and Dayana Yermolayeva based on their experience as students in Hong Kong. There, like in other parts of Asia, the domestic work industry is highly developed, but there are no alternatives to cash when paying household help and collaborators and allowing them to shop on behalf of their employers. The JiPay system remedies this situation, thanks to cards issued in the name of the owner or worker, that can be easily recharged and used on the Mastercard and Apple Pay circuit.
Says Dayana: "In less than a year we have raised $300,000 by establishing partnerships with a backend company and a distribution company." All this despite the pandemic causing a long hiatus in the two partners’ travel to Hong Kong and Singapore, the first two countries where the system will be launched. Between permits and quarantines, now things seem to be going in the right direction, thanks in part to a sure boost from participating in the B4i program: "David and I have believed in our idea since day one, but having tangible proof that even my university supports JiPay has allowed us to act more confidently when meeting external partners. We didn’t receive funds directly from B4i, but we did take part in the Pre-Acceleration Demo Day, where we got in touch with very interesting potential investors. We also really appreciated the constant support from our mentor at B4i, Sabino Costanza, who provided us with lots of advice based on his own entrepreneurial experience.”
Tipicality
Hunting for Regional Specialties
Who doesn't like traveling around Italy in search of the most authentic flavors? This is a rhetorical question, which generally results in a predictable answer and a weekend trip. Not for Clarice Buonsante, who, along with two friends, founded a new company based on this hobby, Tipicality. “When we travel to Italy, we love to get lost in the country lanes in search of small producers of local delicacies. We realized that many of these excellencies are unknown at the national level, some even risk disappearing due to small producers struggling to reach the general public. Hence the idea of describing authentic local products and letting consumers try them through regional boxes."
A great idea was there, but first it all needed to be transformed into a business model before launching. Key assistance came in the form of the Bocconi for Innovation pre-accelerator, which provides young entrepreneurs with the tools to transform an idea into an MVP. Clarice continues: “At the beginning we were guided in validating our customer problem, and this allowed us to refine the target through interviews with potential consumers. In addition, thanks to the pre-accelerator team, we had the opportunity to give our first prototype to the mentors and speakers of the course, a valuable opportunity to get feedback and continue to improve our product."
Today, the pre-acceleration program has just ended: "In the coming months we will focus on selecting the best small regional producers and we will continue to refine our value proposition, in order to be ready for fundraising and for the launch of the business in the second half of the year."
Innovation is a vocation that should be encouraged. Interview with Markus Venzin, Dean for Innovation, Bocconi University
(Alki-vio, DoctorsinItaly, Genoa Instruments, Quick Algorithm, Cargoful, Bryla, Green Games, Tipicality, Viamadeinitaly, Jipay)
by Emanuele and Francesco Elli
