Tech Europe Foundation established
Gasometers in Milano Bovisa
Transforming Milan into one of Europe’s leading tech hubs by establishing an open environment where scientists, companies and startups can collaborate and grow together thanks to a center of excellence for technological and entrepreneurial innovation.
TEF - Tech Europe Foundation was established: a non-profit foundation promoted by its founding members Politecnico di Milano with Fondazione Politecnico di Milano, Bocconi University, ION and FSI, and the Chamber of Commerce of Milano as first sponsor. The aim is to create an ecosystem that fosters collaboration between academic research, companies and startups, integrating entrepreneurial development with scientific innovation.
The future of European innovation depends on the ability to invest in the talents of our young people and their vision. The ultimate goal of the Tech Europe Foundation is to equip our country with an infrastructure capable of helping new generations of young entrepreneurs who strive to transform scientific research and technological innovation into business.
Our goals are clear: 1,000 startups hosted annually and €1 billion to transform research and innovative ideas into tech companies. TEF is an open and inclusive entity, a vibrant ecosystem, which today is aimed at anyone who aspires to believe in the future of Italy and feels a responsibility and passion to contribute, improving the country so that it can become a leading player in technological innovation.
Ferruccio Resta, President of Fondazione Politecnico di Milano and Fondazione TEF
The project will be based at Parco dei Gasometri in Milan’s Bovisa district, undergoing an important urban regeneration designed by Renzo Piano. When fully operational, 1,000 startups will be hosted annually. TEF has an initial fund of more than €100 million and has already launched a fundraising campaign. The Chamber of Commerce of Milano Monza Brianza Lodi has already contributed €50 million, and the goal is to raise additional funds to reach €1 billion by 2030.
Ferruccio Resta (Politecnico) and Alberto Grando (Bocconi) will be TEF’s President and Vice President respectively for the next three years, leveraging the expertise and labs of the two founding universities. The Foundation will operate according to three main pillars: funding basic research, scouting and supporting startups, and open innovation services for companies.
More than 20 years after creating its business accelerator, the time is ripe for Politecnico to be ready to make the leap towards a more international context by hosting an important ecosystem for innovation at the new Bovisa campus. 34,000m2 has been allocated to TEF to facilitate synergies between basic research, companies and local resources, all in a process of open innovation in the tech field that makes the city even more attractive for talent and investment. The university guarantees there will be a solid basis for this ambitious project to grow thanks to spaces, labs and expertise. We have high expectations for the entrepreneurial development of both students and young entrepreneurs.
Donatella Sciuto, rettrice del Politecnico di Milano