Speaking Milan’s Politecnico University for Open Italy on 31 January, Enel CEO Francesco Starace argued that investing in innovation should be done in order to lower the costs of electricity, making it more attractive to use. The event was organised by the Enel Foundation in cooperation with AIFI (Italian Private Equity, Venture Capital and Private Debt Association) and sponsored by the Italian Ministry of Economy and Finance, and saw business leaders sharing and discussing their views on the subject of Open Innovation. This is something that Enel strongly believes in, as is apparent from the investments it has made in this field. As Starace explains, “we have opened windows onto the world, with innovation hubs in Israel, Silicon Valley, Catania and Moscow, to name but a few… We raise a number of issues and solutions are found: the results are exceptional, there is an incredible impetus at play”.
We have opened innovation hubs in Israel, Silicon Valley, Catania and Moscow, to name but a few. We raise a number of issues and solutions are found: the results are exceptional, there is an incredible impetus at play
Francesco Starace, Enel CEO
Starace let the numbers do the talking: 900 startups present, and 140 projects launched, of which 35 are growing into medium-sized companies. “We want to allow these ideas to take on an international dimension, thereby allowing them to spread beyond their country of origin,” stressed the Enel CEO, noting that, “going beyond borders and embracing innovation” has also proven to be particularly beneficial for Enel. It has enabled the company to unearth internal innovation that previously used to struggle to emerge.
In the field of energy, innovation can also help electricity to become more economically viable. As highlighted by Starace in his speech, “renewable energy growth is causing energy generation costs to fall and prices to stabilise”. It is necessary to look towards this aspect so that the potential for innovation can be exploited in the most effective way possible.
Enel editorial staff