Innovation in Italy

Italy is world-renowned for design, craftsmanship, and family-driven entrepreneurship. But when it comes to global innovation rankings, it hasn’t been a front-runner. Every time we return to Milan, we're reminded of this paradox. 

What’s been holding Italy back? According to the latest entrepreneurship monitor: A fear of failure embedded in the education system, discouraging risk-taking. Traditional business structures, where generational leadership can slow radical change. A less mature venture capital ecosystem, making it harder for startups to scale.

But here’s the shift: a silent transformation is happening. 14,000+ startups are now active in Italy, with Milan emerging as a top European hub. The tech ecosystem has grown 11X in the past decade, now worth €60 billion. EdTech, FinTech, and biotech are thriving, with companies like ALKemist Bio and FibreConnect leading the way. VC investment is at an all-time high, backed by new policies and returning talent.

Could Italian companies become global innovation leaders?
Our book Boardroom Creativity explores how design-driven leadership, cross-disciplinary innovation, and forward-looking governance models fuel success. Nordic boards are leading the way—with innovation committees shaping future strategy, not just ensuring compliance. If Italian companies embrace stronger innovation governance, foster a learning culture that accepts failure, and build deeper startup ecosystems, their unique mix of creativity, technical expertise, and entrepreneurial spirit could make them a true force in global innovation. The ingredients are there—now it’s about structure and mindset.

What do you think? Will Italian family businesses step up as the next generation of innovation leaders?