Iban, Association of Business Angels in Italy, creates a Committee of Evaluation to identify innovative startups and SMEs with high growth potential: Bloovery, B2B flower startup, and Entire Digital, startup that wants to revolutionize the online information with smart solutions through AI, are the first two selected ones.
Milan, September 30th 2020 – For IBAN, Italian Business Angel Network, the leading association of private investors in Italy, the startups Bloovery and Entire Digital are emerging stars among Italian innovative companies, with a high growth potential. These are the first two selected as part of a new project of the Association that led to the establishment of an Evaluation Committee, formed by the Angel Investors associated with IBAN Fabio Fanecco, coordinator of the Committee, Andrea Orlando, Francesco Cazzaniga and Michele Lia. In two periods of the year, March-July and August-February, the Committee will evaluate the startup and innovative SMEs projects that IBAN will receive and then arrive at the selection of two companies with high growth potential. The team, the reference market, the product and the business model are the variables that are analyzed and evaluated. The first two to get the “buy” of IBAN are Bloovery and Entire Digital, chosen among 40 growth projects and business plans sent to the Association between March and July this year.
Bloovery, founded in 2016 by Simone Guzzetti, an engineer with an experience as an e-commerce manager of Vodafone and later an entrepreneur in the traditional horticultural sector, aims to change the way flowers and plants are exported, sold and distributed in Europe, allowing the florist to place orders conveniently online and receive them in the store in just 24 hours. The startup is able to serve all florists, even the smallest and peripheral, which allows you to place orders through a digital catalog of over 15,000 items.
For the Evaluation Committee of IBAN Bloovery is high growth potential because it has created a solution capable of meeting an existing need in a traditional market and little innovative succeeding, in a short time, to acquire over 90 business customers and generate a turnover of over € 330 thousand. In addition, the Bloovery market is worth € 14 million in Europe alone and is now dominated by large Dutch operators: Bloovery, by shortening the value chain thanks to its technological platform, guarantees a more efficient service for the end customer.
The selection also fell on Bloovery for the simple and well-structured pitch and team composition: two co-founders and two complementary collaborators in terms of skills, market knowledge and experience in their respective roles.
Entire Digital, founded in 2017 by Massimiliano Squillace, serial entrepreneur of communication and digital companies with four exits behind, is a data-driven company that realizes with its technology the interaction between systems of data study and machine learning to investigate, analyze and predict in real time the trends useful to any online business.
The innovative startup, which plans to close in 2020 with €3 million in revenues compared to €1.2 million in the previous year, is in the process of raising funds to continue the path of internationalization, which began in Europe with the acquisition of online domains in France, Spain and the United Kingdom.
During the months of lockdown Entire Digital has acquired the American company Contents.com and is imminent the launch of a new updated version of the site and the service offered with a global suite of Artificial Intelligence that will integrate different tools for the prediction and analysis of data.
The IBAN Evaluation Committee selected Entire Digital because it has a well-structured and well-trained team with solid industry experience.
Even the start-up metrics reveal high growth prospects, with an expected 150% increase in turnover in 2020, to 3 million Euro. Finally, the business model allows Entire Digital to diversify its value proposition both through the service provider activity and through the SaaS model (software as a service) which has a strong attractiveness for investors given the potential for scalability.
Paolo Anselmo, president of IBAN, commented: “I thank Fabio Fanecco and the other Angels who contributed with great enthusiasm to the birth of the Evaluation Committee. This is an important evolution for IBAN that allows us to intercept startups and innovative SMEs with high growth potential through a structured and systematic analysis that can count on the skills and experience of four valuable Angels. We believe that this Committee, born a few months ago, is a guarantee of seriousness and rigour for companies and entrepreneurs who report their projects and their business plans. For our Angels is an extra tool to guide their investments. The new semester of evaluation is ongoing and will continue until the beginning of 2021, the appointment to know the next startups and innovative SMEs selected is in March 2021”.
The IBAN Evaluation Committee is composed of four Angel Investors with long experience in the digital economy sector.
Coordinator of the Evaluation Committee, Fabio Fanecco graduated in Engineering and completed his training with an EMBA for business innovation at the MIP, the Business School of the Politecnico di Milano and with a second Master in Communication, Social Media and Web Marketing at Up-Level Milano. In 2004 he founded Linnet Consultant, a Management Consulting Company for SMEs. He founded three innovative start-ups and collaborates as a mentor in the incubators Impact Hub Milano, the first center in Italy dedicated to innovation and social entrepreneurship and people, and Startupbootcamp Technologies in which he follows the companies of fashion technology.
Andrea Orlando graduated cum laude in Business Administration from the University of Naples Federico II, received a Master in Management from the London Metropolitan University and an MBA from the INSEAD in France. He has lived in four countries (UK, Italy, Denmark, Norway) and has worked in large groups such as ENI, mainly in strategic functions with a specific focus on turnaround and growth projects. Since 2015 he has invested and developed three startups, two of which are co-founders.
He has worked with accelerators and incubators across Europe, mentoring Copenhagen School of Entrepreneurship, B-Heroes, Venture Cup Denmark and Connect Denmark. Today he is Managing Partner and CEO in Italy of Startup Wise Guys, one of the first accelerators born in Europe, specifically in Estonia in 2012. Startup Wise Guys ranks among the top 100 most active investors globally, according to Crunchbase, thanks to a portfolio of over 185 startups and more than 86 investments made since January 2019.
Francesco Cazzaniga graduated in Communication Sciences at the IULM University of Milan. He grew professionally between journalism and business communication in the high-end goods sector and then devoted himself to digital and the world of innovation. He is vice president of Medicare Onlus and co-founder of a spin-off of the University of Catania to carry out studies, research and surveys on Big Data. Since 2013 he has been a Founding Member of the Fondazione Siciliana for the Venture Philanthropy, which he has chaired since 2018 with the aim of contributing to the development of a dynamic ecosystem to encourage young people and entrepreneurship in the area through philanthropic action.
Michele Lia graduated in Economics with a specialization in Management and Finance at the Università del Piemonte Orientale and has always dealt with issues related to open innovation, both as a faculty member and as a municipal councillor at the municipality of Novara. For more than four years he has worked as project management and Business Analyst, first at the Italian Association of Business Angels (IBAN) and then in Boost Heroes.