There is a new startup accelerator, it is called Business Innovation Factory (BIF) and it was born from a partnership between Leonardo and LVenture Group. On the one hand, one of the leaders in the aerospace and defense industry, on the other hand the experience of a holding company listed on the Euronext Milano of the Italian stock exchange and which, in 2018, entered the second position in the ranking of venture capital. most active in Europe.
The reasons for this call
Paolo SavedLeonardo’s Senior Vice President Strategy & Business Innovation, explains the objectives of this selection of startups: “We launched this call because startups can give us a contribution to create those delivery platforms in order to transform an offer from product to service “, that is the servitization that it is changing the paradigms of the markets.
What is servitization
The short version: it is the addition of services related to the products sold by a company. Thus, those who sell coffee machines can offer their customers a technology thanks to which a technician intervenes for a repair as soon as problems arise and in any case before the appliance fails. The Smart devices we have at home are usually related by services: refrigerators, washing machines or alarm systems that can be managed remotely and that can send us useful information. The extended version is a new business paradigm and a new business model that radically changes the way we study, create and sell products. “Many companies – explains Paolo Saves – also due to budgetary requirements, are changing the way they procure products from capex to opex, thus no longer requiring the purchase of the service, turning towards annual fees”. An example, remaining in Leonardo’s area of expertise, is the International Flight Training School which, instead of selling the trainer of the M-346 aircraft, allows its customers to train pilots for its use: “The world aeronautics do not buy plus the plane but hours of training, so they reach the same result ”, concludes Saved.
The acceleration program
BIF will select up to 10 startups every year, for three years, with the aim of expanding the catalog of services provided by Leonardo. The first call, yes will close on March 14, 2022, is open to Italian and foreign startups and university spin-offs that operate in servitization linked to data collection and data exploitation. At the same time, realities that develop autonomous solutions for mobility and navigation can also be announced. “We will select 10 startups that will also be physically with us at LVenture Hub in Rome for five months, at the end of which the demo day is scheduled to see the progress made from the moment of selection to understand which startups to continue investing in and partnering with the divisions of Leonardo interested ”, explains Salva.
Startups and university spin-offs wishing to apply must have developed Minimum Viable Product (MVP) software solutions, i.e. that are functional and usable by an audience dedicated to improving solutions, or they must already have an idea of hardware. “For the software we require at least a beta solution, as far as the hardware is concerned we are a little more flexible, it is unthinkable that startups will already arrive with a prototype of the product, a rendering is enough, the design maturity”, adds Saved.
The LVenture Group hub will open its doors to selected startups, who will be able to enjoy five months of support, from acceleration to exit. Once the acceleration period has ended, the projects deemed worthy will receive an investment from Leonardo and LVenture Group and will be integrated by Leonardo. To collaborate with a structured group like Leonardo, it is therefore advisable for startups to be at least somewhat structured, entering the court of an Italian excellence allows you to use the laboratories and, apart from Leonardo’s assets, it is an enriching experience regardless. for every startupper.
Leonardo and the startup landscape
In the past, Leonardo has already launched hackathon and call for ideas and this, despite the experience of a corporate accelerator being unprecedented, has allowed the company to paint a picture of the startups in the sector: “I receive many proposals for innovative startups and, with this accelerator, we wanted to organize an experience that we believe will bear fruit. Italian startuppers – concludes Saved – generally tend to tackle the markets through transversal solutions, it is difficult for them to immediately focus on space and defense. Many projects of ecommerce systems, service delivery platforms and solutions for the efficiency of processes, in these areas I have seen excellent solutions “.