Milan opens first Italian FinTech hub
Written by Chris Lemmon
The Italian ministry of economy and finance and the City of Milan have opened a new FinTech district in the city, dedicated to harbouring cutting edge businesses in the financial industry.
Milan’s FinTech District will be located at the new Palazzo S32 in Via Filippo Sassetti 32, a development where companies and FinTech startups will also find office space and co-working facilities, with the opportunity to cooperate, attract new investments and drive further growth. This follows similar set-ups in other European cities, such as Level39 in London or Station F in Paris.
The hub is a dedicated place for start-ups, entrepreneurs, financial institutions, investors and universities to foster the development and growth of companies in the industry.
Pier Carlo Padoan, minister of economy and finance, said: “Supporting the development of the Fintech sector drives growth and modernisation of the country's financial sector. It ultimately benefits all businesses and citizens as it fosters opportunities which enable job and value creation. The FinTech District, a dynamic and thriving commercial environment, has been equipped with the resources required to serve the needs of start-ups and SMEs. This initiative further demonstrates the attractiveness of Milan as European financial hub.”
Giuseppe Sala, Mayor of Milan, added: “The opening of the FinTech District shows that Milan is serious about embracing change in the global economy and building a welcoming home for innovation. We have a history of excellence in the technological and scientific fields and an efficiency infrastructure and service sector. This, together with our ability to attract and develop talent from around the world and a widespread culture of change and innovation makes Milan the ideal place for Fintech companies.
“I am confident that the companies who have already chosen to be based here and those that will arrive in the future will continue to thrive and carry on the extraordinary tradition of innovation in this city.”