15 March, 2017/Startup

Silicon Valley, Enel is Italy’s innovation outpost

Silicon Valley has learnt to speak Italian. Following the opening of the Innovation Hub in San Francisco, Enel has been included for the first time in Mind the Bridge – European Corporate Innovation Outposts in Silicon Valley, which tracks European companies that are part of the world’s greatest innovation centre.

Therefore, together with Luxottica, as an innovation outpost the Group drives Italy to rank fourth among the European companies represented in the Californian basin, alongside Spain, Sweden and Switzerland. Considering that only 44 European businesses have activities in Silicon Valley, this is an important placement, though still distant from the numbers of Germany (15 innovation outposts), France (13) and the UK (5).

However, the situation could change soon, thanks to the bridges that the Enel Innovation Hub has established with the world.  A contact point not only between the top startups of the Californian centre and the Group – says the ‘Mind the Bridge’ report – but also with the other hubs managed by Enel, like the one in Tel Aviv.

This way the Italian utility company is set to become an ideal partner for both technological and commercial collaborations, providing its expertise and a wide network of customers, providers and enterprise capital funds. All this with the possibility of performing on the field tests by means of specific launching programmes.

Thanks to the presence of five European big companies, the energy industry presently accounts for 12% of activities in Silicon Valley, just after the automotive (19%) and the financial sector (16%). However, the numbers are constantly growing, considering that a third of the 44 companies kicked-off in the last three years.

Other Innovation Hubs are scheduled to be set up in 2017: they will allow Enel to play a central role in the future balances of Silicon Valley.