H-FARM – a Technology Incubator Amid Cornfield
Since the French elections have paved the way for the Left the pendulum of the EU anti-crisis policymaking more and more markedly starts to lean towards active stimulation of economic growth. The money pumped in by the public authorities is supposed to constitute a reviving infusion for the economy fatigued by prolonged austerity measures. The adherents of this approach argue that the solution proved successful after the Great Depression in the US, and therefore should also be expected to succeed now. On the other hand, is it possible for the billions devoted to infrastructural investments to become a driving force for the modern, technologically developed EU member states’ economies? Or perhaps we should look for solutions more compatible with the knowledge-based economy model?
Innovation creates competitive advantage – this statement has already become too obvious. Similarly well-known is the fact that innovating requires appropriate social, business, or even natural environment. The invariable challenge is how to create such hospitable milieus. Searching for the best solutions a group of representatives of local authorities, employees of technology parks and researchers working on the international KNOW-MAN project visited H-Farm – a technology incubator located near Venice: unique in European scale and supporting creation of ICT, IT, and web start-ups. The expectedly standard study visit proved very surprising.
H-FARM (Roncade, Włochy)
The first surprise concerned the fact that the business incubator supporting strictly the most innovative undertakings is located at a former... farm. A grain silo got converted into a modern exhibition room and showcases the incubator’s activity. Young entrepreneurs who manage to pass the demanding selection process receive small funding for the start-up phase and are assigned to small, minimalist houses scattered in the former farmland. The work on new business ideas based on modern technologies happens amid cornfields waving just behind the fence. The surroundings host various events in unusual ways fostering creation and materialization of new ideas. One such event is based on combination of three elements: 5-minute presentations of particular idea, discussion with participants, and enjoying Italian pizza together.
H-FARM (Roncade, Włochy)
But the informal atmosphere and peaceful surroundings is not everything. In the first 3 months of their presence in the incubator the young entrepreneurs prepare a business plan. In this period they can expect comprehensive support, ranging from legal consultancy to contacts with the media. With completion of the business plan begins the process of searching for an investor willing to fund each innovative undertaking. H-Farm developed a global network of partners interested in the initiatives hatching in the heads of people under its care.
The biggest surprise, however, is the fact that H-Farm does not use any public funds for its operation. It is wholly supported from the funds invested by the founders of the incubator and funds obtained from external entities, tempted by the prospectively attractive, even though risky, investment. The incubator operates for profit, like any enterprise. Their outputs are start-ups with large growth potential. The project’s entrepreneurial spirit translates into drive for high efficiency and effectiveness. Is it then possible to find a solution satisfactory both for the believers in cutting of the government spending and in stimulating growth? Perchance the next EU summit should take place in a small village near Venetia...
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H-FARM (Roncade, Włochy)
More about H-Farm: www.h-farmventures.com
More about Know-Man Project
