Tuesday, March 18, 2014

Veneto Sviluppo invests €1.5M in H-Farm

RONCADE 17th March 2014 - "A memorable day. The realization of a dream" told the President of the Veneto Region Luca Zaia announcing the entry into H-FARM located in Roncade, where it has been signed the cooperation between the major national Venture Incubator, founded by Riccardo Donadon, and Veneto Sviluppo Spa the holding company of the Veneto Region led by Giorgio Grosso, who has chosen to lay the groundwork for a partnership to power projects and goals of the Venetian startup model. Veneto Sviluppo has officially announced the entry into the capital of H-FARM acquiring a share of 4% with a transaction value of EUR 1.5 million. Veneto Sviluppo participate in a capital increase for a total of EUR 5 million in which also enters the textile group Miroglio Fashion of Alba (Cuneo), which acquires therefore about 10% of the shares of H-Farm Ventures. 
We had already set foot inside Grow The Planet (social network dedicated to people who love good and healthy food, do have a garden or those who simply want to learn, in an easy and funny way, how to grow a bit of what they eat) - he added - but today being in H-Farm also means winning a battle that, apart from the content, is against bureaucracy, against the office of simple business complication, against whom always says no. It is since 2010 that the me and president of H-Farm had talked about this opportunity. The meaning that I have always wanted to give to this operation is the possibility to let the territory grow. Here there is indeed an incubator not only for businesses but also for a new idea to market , a new economy. "

"For the first time the Region becomes an entrepreneur and makes it as the salmons, i.e. going upstream. We were used to help firms in difficulty, but we made a first cultural leap helping start-ups. Today we do a triple screwed somersault because we continue going upstream to the origin, the source of life of all start-ups, i.e. venture incubators. We want to bring the experience of Veneto Sviluppo within a company and become a firm. "

"The capital increase - said the president - is to put jingling money in favor of the company. This is not just about buying a share, but to believe in a new adventure. I am here to say that we are willing to grow with our participation as soon as Europe gives us the ok, because this participation can reach a capacity of ten million Euros."

Zaia said that the operation of today invests the latest generation of the industrial revolution: a new economy, new businesses and added value. "We have 195,000 unemployed in Veneto - he concluded - and we lost during crisis over 85,000 jobs in 4 years. The solution is not to fill the mouth of proclamations and do nothing. The journey has been long but we managed it and the Region has made an investment in which he believes . We believe in this business, we believe that with this our region can grow, a region that interacts with the world. "

On H-FARM had been widely discussed in recent days, especially since the incubator based in Roncade, Treviso was the site of the first exit of Matteo Renzi the new elected italian Prime Minister as visited the venture incubator. H-FARM the first Italian private incubator halfway between an incubator and VC, fascinates not only for the location in Ca' Tron (Treviso) but also for its "penetrating" investment approach in startup ideas. Indeed, this venture capital incubator, with offices in Seattle (USA), London (UK) and Mumbai (India) was born in the countryside of Ca' Tron, near Treviso, location which Donadon choose in the middle of the countryside because he "wanted to link high tech thinking with the slow life of the country" as Francesca Voltarel, human resource manager at H-Farm reveled in an interview made by Margaret Greenberg. Start-ups on which this venture incubator invests are initially incubated and provided not only with financial backing but also with technological, logistical, as well as consulting support.
The incubation cycle at H-Farm lasts three years. After which the company is sold to an industrial or financial partner to complete the growth path, at one condition: the company's headquarters must remain in Ca ' Tron.
Founded in 2005 by entrepreneur Riccardo Donadon - 42 years old - the company in its first nine years of activity has invested €15.4 million in 54 new companies that have created 350 jobs and have a total turnover of more than EUR 30 million and realized 7 exits, like 7 are the buildings, i.e. renovated farm building of the ranch in Ca' Tron. Always with an eye to the territory: the idea of ​​Donadon is in fact to create a sort of Silicon Valley in the Veneto region. Until 2018 are planned further investments for EUR 10 million.