The Italian Trade Agency (ITA) has entered into a strategic partnership with Plug and Play APAC to help Italian startups expand into Southeast Asia’s fast-growing innovation markets. The collaboration focuses on nine promising startups selected from Italy’s deep technology, fintech, and sustainable innovation sectors. Through this initiative, Italy wants to accelerate cross-border startup growth and strengthen its footprint in Asia’s booming digital economy.
Italy Steps Out of Its Comfort Zone
For years, Italy has built its global identity on manufacturing, design, and high-end craftsmanship. However, the government now sees innovation as the next major export. The Italian Trade Agency, backed by the Ministry of Foreign Affairs, has designed this partnership as part of its “Global Startup Program,” which connects Italian entrepreneurs with global ecosystems.
Through Plug and Play’s network in Singapore, the program offers startups hands-on exposure to regional investors, corporate partners, and mentors. Each startup will spend four weeks in Singapore, engaging in workshops, investor sessions, and pilot opportunities with Southeast Asian corporations.
Giuseppe Izzo, the Italian Trade Commissioner to Singapore, said during the announcement, “We want our startups to go beyond Italy and Europe. Southeast Asia offers a dynamic environment for innovation, especially in fintech, sustainability, and mobility. Our partnership with Plug and Play ensures that Italian founders gain real-world experience and access to this diverse region.”
Plug and Play: The Gateway to Asia
Plug and Play, based in Silicon Valley, runs one of the world’s largest accelerator networks. It already operates innovation platforms in Singapore, Jakarta, and Bangkok, connecting startups with over 500 global corporations.
By partnering with Plug and Play, the ITA ensures its startups don’t just learn theoretically about market entry — they build relationships with key Asian players. Plug and Play APAC’s Managing Director, Shawn Dehpanah, emphasized this during the partnership launch. “We believe innovation thrives when global founders meet local challenges,” he said. “This program connects Italy’s creative energy with Asia’s digital urgency.”
Plug and Play will mentor each startup, introduce them to potential clients and investors, and help them adapt their products to regional needs. For instance, fintech companies will explore open banking collaborations in Singapore, while sustainability-focused startups will connect with renewable energy projects across Indonesia, Thailand, and Vietnam.
The Nine Startups Ready to Conquer Asia
Although the ITA has not disclosed every participating company in detail, early reports highlight a diverse portfolio of innovators. They include a fintech startup that builds AI-driven payment compliance tools, a clean energy firm developing hydrogen-based fuel cells for maritime transport, and a healthtech company using AI to enhance elderly care monitoring.
Each startup reflects Italy’s emerging strength in deep tech and its growing commitment to sustainable innovation. These companies already operate in European markets but now aim to use Southeast Asia as a testing ground for scale and product localization.
One of the participating founders, Marco Ferrara of FinSage, expressed excitement about the move. “We have built a great product in Europe, but growth lies where technology adoption moves faster,” he said. “Southeast Asia embraces digital payments and open finance faster than any region. This partnership gives us the access we need.”
Singapore: The Launchpad for Regional Growth
Singapore continues to serve as the ideal hub for European startups entering Asia. The country offers strong intellectual property protection, government incentives for innovation, and a multicultural business environment.
The ITA chose Singapore because it allows easy access to major regional markets — Indonesia, Malaysia, Thailand, and the Philippines. From here, Italian startups can learn, test, and expand quickly.
During the launch ceremony held at Plug and Play’s Singapore office, participants interacted with local venture capital firms, such as Golden Gate Ventures and Monk’s Hill Capital. These early networking sessions already opened doors for pilot projects and collaborations.
One Singaporean investor commented, “Italian startups often carry strong engineering DNA, but they need help in understanding Asian consumer behavior. This program helps bridge that gap.”
Southeast Asia: A Market Full of Promise
The partnership between ITA and Plug and Play arrives at a time when Southeast Asia is witnessing a surge in startup activity. In 2024 alone, venture capital funding in the region crossed $12 billion, driven by fintech, logistics, and climate-tech startups. Countries like Indonesia and Vietnam are home to a young, tech-savvy population, offering fertile ground for innovation.
For Italian startups, the region presents a dual advantage — high digital adoption and relatively lower competition in certain niche sectors. Fintech and green energy, in particular, align with the region’s policy priorities and sustainability goals.
The Italian Trade Agency plans to support startups not only through market access but also through funding and partnership facilitation. Startups that successfully complete the four-week program will receive follow-up support from ITA offices across the region to continue operations and seek investors.
A Step Toward a New Italy
Italy’s innovation strategy is undergoing a transformation. Historically, most Italian startups focused on the domestic or European market, with limited exposure beyond the continent. But with this initiative, Italy is making a clear statement: it wants to compete globally in the tech arena.
The Italian government launched the “Innovation Made in Italy” campaign to change international perceptions about Italian entrepreneurship. The campaign emphasizes creativity, precision, and sustainability — traits that already define Italian design and now form the foundation of its startup narrative.
Plug and Play’s collaboration accelerates this shift. It gives Italian startups global validation and access to new capital markets. As Asia becomes one of the largest consumers of digital solutions, Italy positions itself as a serious contributor, not just a spectator.
Building Bridges, Not Just Businesses
Beyond commerce, the partnership symbolizes cultural exchange. Innovation often thrives at the intersection of diverse ideas, and this program embodies that philosophy. Italian startups bring creativity and craftsmanship, while Asian markets offer speed, scale, and technological hunger.
Participants in previous ITA programs have often cited the importance of understanding local user behavior. Southeast Asia’s fragmented markets demand adaptation — not just translation. Italian founders will have to localize payment methods, pricing models, and even design choices to suit regional preferences.
Plug and Play’s mentors will guide them through this process. Workshops on user acquisition, regulatory frameworks, and partnership building will prepare founders for real-world challenges.
By the end of the four-week program, startups will pitch to investors during a “Demo Day” in Singapore, attended by regional VCs and corporate partners. ITA officials will use this event to showcase Italy’s broader innovation ecosystem.
What Success Looks Like
The partnership’s success will depend on measurable outcomes — deals signed, funding raised, and market entries achieved. The ITA hopes at least half of the participating startups will secure pilot projects or local partnerships by early 2026.
For Plug and Play, this collaboration enhances its global reach and reinforces its position as the world’s most connected startup platform. For Italy, it represents a milestone — proof that its startups can compete in one of the most dynamic innovation regions on the planet.
As the first cohort begins its Singapore journey, all eyes remain on how these startups adapt and perform. Success here could inspire similar programs in Japan, Korea, and the Middle East.
A New Chapter in Global Innovation
The ITA-Plug and Play partnership stands as a blueprint for cross-border startup expansion. It reflects how nations can collaborate through innovation rather than competition. Italy brings creativity and expertise; Asia offers scale and dynamism.
Together, they can shape a new narrative for global entrepreneurship — one that values diversity, sustainability, and collaboration.
In the words of Plug and Play’s Shawn Dehpanah, “Innovation no longer belongs to one region. It belongs to those who collaborate.”
With this partnership, Italy has taken a bold step toward that future — a future where startups don’t just dream locally but act globally.
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