Amb. Buccino Grimaldi all'evento 'The italian and spanish innovation ecosystems'

Amb. Buccino Grimaldi all'evento 'The italian and spanish innovation ecosystems'

(ANSA) - MADRID, 21 OTT - Ambassador Giuseppe Buccino Grimaldi participated last night in the event titled “The Italian and Spanish Innovation Ecosystems,” hosted by the Consulate General of Italy in Madrid and promoted by the Italian Embassy in Spain and the ICE Madrid Investment Promotion Office, in collaboration with the Ministry of Foreign Affairs and International Cooperation and the Italian Tech Alliance. The discussion focused on the life sciences sector, a field that, despite the challenges, is experiencing strong momentum and rapid growth in both Italy and Spain. The meeting, which featured a presentation by Carme Artigas, co-chair of the United Nations Global Advisory Board on Artificial Intelligence, was attended by representatives from venture capital funds, startups, researchers, and companies in the pharmaceutical sector. Four emerging Italian startups had the opportunity to present their projects, offering a genuine and representative demonstration of the potential and dynamism of the Italian innovation ecosystem. In his remarks to those present, the ambassador highlighted how Italy and Spain maintain deep and well-established economic ties, given that bilateral trade exceeds 70 billion euros annually, with pharmaceutical and chemical products accounting for a significant share, with the pharmaceutical sector alone accounting for 10.8% of exports. Buccino Grimaldi also noted that the two countries share important distinctive features in their respective life sciences ecosystems, including robust university research, specialized healthcare institutions, and centers of scientific and industrial excellence—elements that provide an ideal foundation for close bilateral cooperation. However, Italian and Spanish companies in the sector face a common challenge: although they emerge from world-class research, they often require more substantial capital injections for the growth and scaling phases—something that national funds cannot always guarantee. It is for this reason, the ambassador also emphasized, that joint efforts between the two countries’ systems can lead to a shared perspective in the European debate, starting with the implementation of the European Biotech Act—an extraordinary plan to make the development of new medicines and medical technologies in Europe faster, more cost-effective, and safer. Read article...