FS Italiane and MITO Technology

A Memorandum of Understanding for research into sustainability by innovative startups

7th May 2019

Monitoring the most promising market trends and technologies as well as collaborating in the search for the best startups working in the fields of sustainability, circular economy, energy efficiency, cleantech and smart mobility, with a view to open innovation. These are the objectives of the Memorandum of Understanding (MoU) signed by Ferrovie dello Stato Italiane and MITO Technology, an Italian company committed to supporting agencies, universities and public bodies in the enhancement of intellectual property and the results of technological research.

“In line with the objectives of the 2019-2023 Industrial Plan, the FS Italiane Group is constantly committed to incentivising sustainability and promoting collective, shared and integrated mobility,” underlines Franco Stivali, Chief Innovation Officer of the FS Italiane Group. “The MoU signed with MITO Technology not only confirms this commitment but is an additional opportunity for the Group to apply the open innovation paradigm and get in touch with startups that are developing innovative projects on the central theme of sustainability.”

“We strongly believe in this collaboration,” confirms Francesco De Michelis, Chief Executive Officer of MITO Technology, “given that the input and know-how of Ferrovie dello Stato Italiane represent a fundamental contribution in the selection and identification of increasingly promising technologies and startups, which will benefit from not only financial but also industrial support.”

Through the Progress Tech Transfer investment fund launched in January, MITO Technology focuses on the enhancement of new technologies in the field of sustainability, counting on an initial allocation of 40 million euro and a target to raise 50 million, jointly entered into by the European Investment Fund (EIF, with the funds of InnovFin - Eu Finance for Innovators, a financial instrument developed under Horizon 2020) and by Cassa Depositi e Prestiti (CdP) under the ITAtech platform. Thanks to well-defined focus and an open technological connotation, the Fund aims to invest in technologies and startups that increase sustainability in the macro segments of environment and energy, new materials and smart, foodtech and agrotech services.