The only path forward for companies and start-ups seeking to secure their place in the future is through sustainable innovation: a journey that calls for bold endeavours, continuous acquisition of new skills, and a commitment to reducing climate-changing emissions.
And to swiftly reach our destination, the most reliable ways to navigate the complexity are open innovation, collaborative innovation projects, training, technology transfer, and methodological support. It is these very same coordinates that Joule, the Eni School of Entrepreneurship, follows in its work to provide entrepreneurial support worldwide, creating new value chains that are fair and environmentally friendly.
We covered all of this in our discussion with Mattia Voltaggio, the Head of Joule, Eni School of Entrepreneurship, as we looked at strategy, management and ‘giving back’ to the world of start-ups. We also considered the Italian innovation ecosystem, what it has achieved and its targets for the future.
A past, present and future of hard work and clear targets.What direction is Joule heading in now?
As our CEO reiterated at the last Capital Markets Day, our target is net zero for all products and processes by 2050. Joule’s operations are in line with this ethos. We are firm believers in the energy transition and are confident that start-ups can collaborate with major corporations to enhance the future of our planet. During the pandemic, we supported the national infrastructure and sustainable entrepreneurs. Today, we have entered a new phase by adopting a viewpoint that can significantly enhance Eni’s value – especially in terms of ESG. We have established a framework to quantitatively assess and report on the social and environmental impact of our operations.
That evolution leads us towards a definition. How would you describe Joule today?
We are one of Eni’s open innovation units, situated within the organisational division responsible for human capital. Our start-up acceleration efforts so far are intertwined with the concept of intrapreneurship. This aims to instil an entrepreneurial mindset in Eni’s 30,000 employees, encouraging them to become facilitators of innovative processes.
What is your approach to working with start-ups?
Compared to the other open innovation hubs within the company, which engage with highly mature start-ups using a 'venture client' model, Joule’s mission is to work with early-stage start-ups that have a lower TRL (Technology Readiness Level). This segment is really exciting and offers substantial advantages in terms of co-participation in the research and development stage. As such, we’ve engaged our colleagues from Eni’s Research and Development (R&D) division in open innovation processes, to help us in transferring technologies and skills to the chosen start-ups.
And that leads to mutually beneficial cross-pollinations of skills...
Precisely. Innovation literacy involves broadening the concept of innovation beyond just technology, to also encompass people. We have numerous business departments eager to work with start-ups, but this demands a great deal of mental agility. In this sense, open innovation helps us by encouraging knowledge sharing and the juxtaposition of various viewpoints, even among professional groups that we seldom link with the concept of innovation, but who actually play a pivotal role. I’m referring to lawyers, buyers, and corporate compliance experts who collaborate with our start-ups, becoming adept at applying their skills in highly uncertain environments. The projects are incredibly short-term; the future is yet to be imagined, lived and built. So our experts provide their skills and in return they learn about agility and dynamism – qualities that aren’t always common in large, complex companies.
How does Joule contribute to Eni’s carbon neutrality targets?
Eni’s strategy to reach Net Zero, which is supported by an industrial growth and transformation plan, targets net zero emissions by 2050 and the achievement of the GHG scopes associated with the entire value chain. Joule is a crucial strategic resource for the company, assisting in achieving this practical and realistic yet ambitious goal. In concrete terms, we’re striving to ensure that future Eni suppliers and the energy supply chain adopt carbon-neutral business models. We help them in reshaping their business model, which has positive effects on both the environment and society. It’s a long, arduous and gradual process, but we are on the right path.
How does Joule envision the future?
Our international focus will become increasingly prominent. We’re activating new supply chains in several African countries, supporting local businesses to set up new value chains and reduce environmentally damaging emissions. Just consider Joule’s contribution to Eni’s work in agri-hubs for biorefining. In the long term, we can expect to work in multiple countries, initiate local incubators, and promote the growth of innovative ecosystems and business activities.Moreover, Joule will serve as a crucial enabler for various functions that are not traditionally linked with the notion of innovation, but can aid in the creation of innovative products and services.
Shifting our focus from the global stage to Italy, how would you evaluate the innovation ecosystem of our country?
Considerable progress has been made, but there are areas that still need further improvement. In the most advanced nations, the levels of investment greatly exceed those in our country, and a culture of innovation has been rooted for generations. In Italy, we’re still in the initial phases, given that the National Innovation Fund was only set up in 2019. So it’ll be a few more years before we can offer a thorough assessment of the Italian ecosystem.
What should be done?
Classical open innovation inevitably needs to evolve, and start-ups should be linked not only with a single firm, but across all relevant production chains. We also need to concentrate on nurturing collaboration and connecting different innovators, enabling interaction and joint efforts between the public, private and university sectors. The excessive geographical spread of innovation centres also poses a problem. We should consolidate into large regional hubs, as seen in Silicon Valley, Israel, Berlin and the Netherlands. Italy would require three major districts: North, Central, and South. From there, you could have potential regional spokes.
Are you making progress in this direction?
Eni has named Joule as the Project Management Office for the ROAD – Rome Advanced District project, with the explicit target of bringing businesses, institutions, entrepreneurs and universities closer together. ROAD is a welcoming and inclusive hub in Rome, designed to encourage sustainable innovation among diverse participants. It’s designed to attract both public and private stakeholders with a view to building supply chains and acting as a hub for events and educational activities, where creative experimentation, technology transfer and the exchange of ideas can thrive.
