Technology Report 2018 – the New Frontiers of Innovation
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The European House - Ambrosetti in Italy and around the world: offices and strategic partners Italy » UNITED KINGDOM » KOREA May 2018 Ambrosetti Group Ltd. HebronStar Strategy Consultants » MILAN 1 Fore Street, Ground Flr 4F, Ilsin bldg., The European House - Ambrosetti London EC2Y 5EJ Teheraro37gil 27, Via F. Albani, 21 Tel. +44 (0)7588199988 Gangnam-gu, Seoul 20149 Milan [email protected] Tel. +82 2 417 9322 Tel. +39 02 46753 1 Fax +82 2 417 9333 Fax +39 02 46753 333 » SPAIN [email protected] The New Frontiers [email protected] Ambrosetti Consultores Castelló nº 19 Madrid, 28001 » JAPAN of Innovation The European House - Ambrosetti Tel. +34 91 575 1954 Corporate Directions, Inc. 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Fax +49 30 8803 3299 No. 1102 Suhe Mansion, [email protected] No.638 Hengfeng Road, Zhabei District Shanghai, 200070 Tel. +86 21 5237 7151 Fax +86 21 5237 7152 [email protected] » K FINANCE » BAI SHI BARBATELLI Via Durini, 27 & PARTNERS COMMERCIAL CON- 20122 Milan SULTING SHANGHAI COMPANY LTD. Tel. +39 02 76394888 No. 517 Suhe Mansion, Fax +39 02 76310967 No.638 Hengfeng Road, Zhabei District [email protected] Shanghai, 200070 Tel. +86 21 62719197 Fax +86 21 62719070 [email protected] www.ambrosetti.eu www.technologyforum.eu Main Partner Partners In collaboration with ASSOBIOTEC Associazione nazionale per lo sviluppo delle biotecnologie Table of Contents Preface 4 Executive Summary 8 1. Introduction 9 2. Research and innovation in Italy 10 3. National initiatives for entrepreneurship and industrial innovation 12 4. The importance of Open Innovation strategies and the different types of Corporate Venture Capital 14 5. The Corporate Venture Capital global landscape and the Italian positioning 18 6. The shift from a Western-centric world to multilateralism 21 7. Global innovative and technological dynamics 22 8. China as a technology hub 23 9. Europe: what’s hot? 25 10. The agenda for the Italian innovation ecosystem 26 Introduction 28 The members of the “Innovation and Technology” Community and the other protagonists of the project 29 The Community: mission and operational logics 33 The 2017/2018 milestones 34 The structure of the Report 37 01 The state of the art of the Italian innovation ecosystem: the advancements and the main policies implemented in Italy during the last year 40 1.1 National initiatives for research and innovation 41 1.1.1 National Operational Program on Research and Innovation 2014-2020 41 1.1.2 National Research Program 2015-2020 45 1.2 National initiatives for entrepreneurship and industrial innovation 47 1.2.1 The National Industry 4.0 Plan (Impresa 4.0) 47 1.2.2 National Operational Program on Enterprises and Competitiveness 52 1.3 The Three-Year Plan For ICT In Public Administration 2017 - 2019 53 1.4 The Italian government policies to attract and retain innovative entrepreneurs from all over the world 54 2 © The European House – Ambrosetti TR_2018.indb 2 16/05/18 16:36 02 Open Innovation and Corporate Venture Capital in the international landscape 58 2.1 Open Innovation and Corporate Venture Capital 59 2.1.1 The importance of Open Innovation strategies 59 2.1.2 The Open Innovation toolkit and Corporate Venture Capital 61 2.1.3 The history of Corporate Venture Capital 66 2.1.4 The different types of Corporate Venture Capital investments 71 2.2 Quantification of ongoing dynamics and international experiences in the global Corporate Venture Capital ecosystem 74 2.2.1 The global Corporate Venture Capital landscape 74 2.2.2 The Asian ecosystem 76 2.2.3 The European ecosystem 78 2.3 Italian positioning in the Corporate Venture Capital context 80 2.3.1 The underdeveloped Italian Corporate Venture Capital ecosystem 80 2.3.2 The issues of Corporate Venture Capital in Italy 81 2.4 Strategic guidelines for Italy 83 03 The coming multilateral world: the rising role of Asian countries in the innovative global ecosystem 86 3.1 The shift from a Western-centred world to multilateralism 87 3.1.1 The traditional Chinese protectionist policies for the defence against Western Powers 87 3.1.2 The new American protectionist policies and the opportunities for Asian countries 88 3.2 Global innovative and technological dynamics 91 3.3 China as a technology hub 97 3.3.1 Main technological trajectories 99 3.3.2 “Made in China 2025”: blueprint for upgrading the country’s manufacturing sector 104 3.3.3 China’s tech giants 105 3.4 Europe: what’s hot 107 3.5 Strategic guidelines for Italy 109 04 The Agenda for the Italian innovation ecosystem 114 4.1 Italy’s Agenda Bibliography 120 3 © The European House – Ambrosetti TR_2018.indb 3 16/05/18 16:36 Preface TR_2018.indb 4 16/05/18 16:36 Preface “The mind is like a parachute. It only works if we keep it open.” Albert Einstein We are living in a very positive historical moment. For the first time in recent years, all the main areas of the world are experien- cing economic growth. According to the International Monetary Fund, this year global GDP will grow by 3.9% and a similar rate of growth is also expected in 2019. This growth trend is also continuing in Europe (+2.4% expected in 2018). The year 2017 ended with a 2.5% growth in GDP in the Eurozone, the highest rate in over a decade and the third highest growth rate ever registered since the introduction of the Euro. 2017 was also a positive year for Italy with a growth rate of 1.5%, the highest since 2010, and employment was at an all-ti- me high of 23.1 million, although the overall unemployment rate remained at 11.2%. Nonetheless, growth is not measured solely in terms of a single country; it must also be measured in comparison with other areas of the world and from this standpoint, Italy’s per- formance is not positive. The most recent International Monetary Fund forecasts show that, again in 2018, with a 1.5% GDP growth rate, Italy will remain the caboose of the Eurozone train. The sentiment indicator in the survey carried out within the Ambrosetti Club business community (comprised of over 350 managers and CEOs of the largest Italian and multinational com- panies operating in Italy), suggests that the country is experien- cing a period of adjustment. What could be done in order to not only perform better than in the past, but also to outperform the others? Unquestionably, science, technology, research and innovation are the reci- pes for growth. In this regard, I would like to quote the great che- mist, Louis Pasteur, who had already understood, back in the 19th century, that “science knows no country, because knowledge be- longs to humanity, and is the torch which illuminates the world”. The Innovation and Technology Community, instituted in 2011 as part of the Ambrosetti Club, is now in its seventh year of activi- ty. Its aspiration is to be a beacon for the Italian innovation ecosy- 5 © The European House – Ambrosetti TR_2018.indb 5 16/05/18 16:36 Preface stem by offering the country’s public and private sector players a high-level platform for discussion and knowledge and to develop ideas for stimulating innovation within the country. Since its creation, the Community has maintained that, in or- der to provide a greater impulse for growth in Italy, courageous choices must be made and those sectors of the economy with high technological and innovative content must be promoted. In Italy, investment in research and development is still too low ($30 bil- lion, 1.29% of GDP, even lower than the 1.34% in 2015). The pri- vate sector, recipient of 58% of R&D investment in the country, is 7 percentage points below the European average. However, Italy can rely on several strengths, starting with the excellence of its research system.