Startup: how to enter the contest to fly to Silicon Valley

Flying to Silicon Valley, meeting mentors, experts, innovation players, potential investors, and strategic partners is possible. How? By participating in the “Call 4 Innovit,” a contest dedicated to startups and SMEs operating in the field of technological innovation and the promotion of Italian culture internationally, which will be able to access an acceleration program provided by the Italian Innovation Center set up at Innovit, the first Italian and innovation culture hub in San Francisco promoted by the General Directorate for Country System of the Ministry of Foreign Affairs and International Cooperation, in collaboration with the Italian Embassy in Washington and the Consulate General in San Francisco. Here is who can be admitted and how.

Admission requirements.

By January 26, 2023, through the dedicated platform, interested SMEs and startups can apply for two calls respectively:

“SME traction” is dedicated to SMEs operating in research-intensive sectors and technological innovation that intend to start or consolidate paths of innovation and internationalization within and in the United States;
“Startup acceleration” is dedicated to scale-ups intent on accelerating their entry into international markets.
However, they will have to aim at developing artificial intelligence or metaverse technologies or applying these technologies to the creative and cultural industries. In addition, they will have to be based in Italy; know English; have been established for more than three years; be able to attend the activities envisaged by the program; and be willing to cover participation costs (travel, board, and lodging in San Francisco).

Selection criteria

The ranking will be made based on a score from 0 to 100 on specific evaluative criteria depending on the call. In the case of “SME traction,” net worth as of the date of the last balance sheet (up to a maximum of 10 points), size of turnover (up to 20 points), number of employees (up to 20 points), having received funding or investment from third parties (up to 10 points), having received public funding dedicated to the project (up to 10 points) and finally specific characteristics of the participating startup (up to 30 points) are considered. In the case of “Startup acceleration,” the score will be awarded based on the following evaluative criteria: having received financing or investment from third parties (up to a maximum of 20 points), having received public funding on the project (up to 10 points), size of turnover (up to 20 points), number of employees, partners and full-time committed collaborators (up to 10 points) and specific characteristics of the startup (up to 40 points).

The phases of the acceleration program

The two acceleration tracks (“SME traction” and “Startup acceleration”) will then be divided into three phases:

selection and onboarding, which will include two weeks of orientation activities, needs assessment, training sessions, and remote mentoring to which the first 25 SMEs and 40 startups on the ranking list will have access;
Silicon Valley experience, which involves a two-week period in San Francisco during which the companies selected during the first phase based on a second evaluation (15 startups and 15 SMEs) will be able to participate in training and mentoring sessions and networking events with U.S. corporations and potential investors;
Follow-up includes a seven-day period during which startups and SMEs will be remotely supported in consolidating the relationships and activities initiated in San Francisco during the second phase.
The selection of participants for the first phase of the accelerator program will be announced by January 31, 2023, via email and on the registration platform. After that, the first phase will kick off on February 6, while the second phase (in San Francisco) will be held March 27-31.