In recent months, we have started MAIN’s transformation process that will allow our company to evolve from innovation consulting to innovative technologies scouting and pre-seed and seed capital investing.
This transformation, assisted by Orrick Law Firm, will lead MAIN to become a small financial company with the somewhat curious name of «Other joint-stock company which invests mainly in innovative startups», as defined by the Interministerial Decree of the Ministry of Economy and Finance in agreement with the Ministry of Economic Development of 7 May 2019, which constitutes an integration and modification of the provisions of the MINISTRY of ECONOMY and FINANCE in the decree of 25 February 2016.
The central theme that we have developed over the years and that we intend to continue developing is INNOVATION & SUSTAINABILITY.
Il ciclo di prodotto di Management Innovation
Innovation that allows the identification and development of disruptive technologies that could change our society, but also an innovation that is sustainable, thus allowing us to improve all our lives, without depleting the planet’s resources and leaving future generations a healthier environment than what our fathers had given us.
To do this, a three-step process was started:
1st step: change of MAIN’s Statute in order to adapt it to the new requirements needed for being placed among the other joint stock companies that invest mainly in innovative startups; this change has already occurred at the end of 2019.
2nd step: transformation of the company into a joint-stock company, providing for a Board of Directors and a Board of Statutory Auditors. Carrying out a capital increase through crowdfunding that will enable the company to obtain the financial resources to continue the scouting and investment in innovative initiatives. We recently talked about this very delicate step during MAIN’s Investment Committee meeting of 4 March, which took place for the first time by videoconference due to the coronavirus emergency. I have proposed to appoint Pierluigi Sassi as Chairman of the Board of Directors (see pag.1 of this Newsletter), to appoint myself as CEO and as a member of the Board of Directors my son Andrea, with a brillant degree in Economics & Management, now consultant at Enel Green Power and always attentive to the activities developed by MAIN.
3rd step: being supported in the growth process by important financial and legal Advisory companies to develop the product cycle as illustrated in the figure. The NAUTILUS® and SHERPA® innovation management methodologies are and will be very useful for managing the selection and development of innovative ideas.
The ability to Exit, following the scale-up of the initiatives developed, will be carried out in close collaboration with the partners who will join MAIN to guide it during the phases that require greater use of financial resources.
I believe that this transformation will be appreciated by the current and many other shareholders who will join MAIN in this new great and challenging adventure!
I invite you to take a look at the presentation (in Italian) made to the MAIN Investment Committee last March 4, 2020 where the project of transformation of our company is presented in detail. You can find it here.
