Iren Group and Iren Startup Award: Artificial Intelligence Driving Innovation and Sustainability
The Iren Group focuses on innovation with the Iren Startup Award | Call 4 Artificial Intelligence, an initiative dedicated to the most promising startups in the AI sector. The goal is to find digital solutions to optimize business processes and support the ecological transition. A key role was played by the Circular Economy Lab, which supported the selection and development of the involved startups. Discover how this initiative is transforming the landscape of innovation and sustainability.
Matteo Vacchetti, Corporate Venture Capital Coordinator at Iren Group, explains the value of this synergy.
- What is the strategic value of the Iren Startup Award | Call 4 Artificial Intelligence for the Iren Group?
The strategic value of the Iren Startup Award lies in the opportunity to tap into the world of innovation, particularly this year through AI-driven startups, to better tackle the challenges of the Group’s Industrial Plan. The aim is to identify digital solutions applicable to different business areas, optimize internal processes, and promote efficient and sustainable tools. This competition for digital-native startups positions Iren as a national and international Venture Client.
- You are highly active in the Italian innovation landscape. What added value do you gain from collaborations with startups working on sustainability and ecological transition?
Startups possess a level of disruption and speed in understanding market evolution that is difficult for a corporate to replicate. Collaborating with or investing in startups allows us to internalize new technologies and business models without developing them in-house, while leveraging specialized and highly motivated teams. AI will revolutionize every aspect of business as we know it today; identifying and partnering with the best initiatives in this sector helps us gain a competitive edge over our rivals.
- How has the Circular Economy Lab supported the development and execution of the project?
The CE Lab has been supporting the Innovation division for years by conducting sector studies, tech scouting, and startup calls, consistently delivering valuable results. During the Iren Startup Award | Call 4 Artificial Intelligence, the CE Lab helped promote collaboration opportunities with Iren Group across major innovation hubs worldwide, showcasing the Group’s multifaceted identity and carefully selecting the most innovative startups for the competition.
- What tools and expertise did the CE Lab provide to facilitate the selection and growth of the involved startups?
Its daily interaction with innovative startups enabled the CE Lab to bring effective communication and pragmatism—both essential elements for a successful startup call. Additionally, its expertise in innovation and sustainability helped in accurately assessing the Group’s requirements, even when they were highly technical.
- What opportunities arise from long-term collaborations with the selected startups?
The goal is to establish a collaboration, run a test, sign a supply contract, or conduct a feasibility study with all the finalists, especially the competition winners. This edition highlights Iren’s role as a venture client, but we do not rule out the possibility of direct or indirect venture capital investments in the selected startups.
Ultimately, innovation at Iren aims to integrate and industrialize the initiatives we collaborate with, bringing new technologies and inputs to scale.
- What is the overall satisfaction level of the Iren Group’s innovation team regarding the Iren Startup Award | Call 4 Artificial Intelligence?
We are very satisfied. This particular call attracted truly innovative startups from around the world, with more selected startups coming from abroad than from Italy. This is a clear sign that the Group is opening up to global technological solutions, positioning itself as an innovation catalyst in its key territories.