It is called 42N, and no, 42 is not the answer to “the ultimate question of life, the universe, and everything” from Douglas Adams’ science fiction novel series The Hitchhiker’s Guide to the Galaxy, but rather the 42nd parallel north, represented by the N, which ideally connects the cities of Boston and Rome. The name was therefore chosen for a reason, just as the actions and figures achieved to date by this organisation of professionals, investors and Italian entrepreneurs living in the United States in supporting innovative Italian companies seeking overseas growth in the most innovative and investment-rich market are anything but random.
42N is a benefit corporation, which in itself is an important indicator that its members are certainly focused on implementing projects that have all the characteristics of a business capable of generating economic growth, but at the same time work with a view and spirit of giving back, with the stated and actual goal of providing concrete support to Italian entrepreneurs who want to enter the US market.
“Our goal is basically to give back to our country by sharing the scars and contacts we have gained from doing business in America. All thirty members of 42N, whether professionals, entrepreneurs or professors, have developed a wealth of experience and networks that can help those who want to enter this market avoid many mistakes, speeding up the process and improving their chances of success,” say members Roberto Dolci, Francesco Rizzo Marullo, Ettore Santucci and Paolo Ciuccarelli, who enthusiastically tell Startupbusiness about their project.
42N, which we already mentioned when discussing Sunspeker, one of the start-ups they support, offers a wide range of services: from simply sharing contacts with professionals with the right skills, to mentorship aimed specifically at start-ups, from introductions to incubators such as ScaleUp Labs, to professional support, from commercial and financial communication to talent scouting, from legal, tax and immigration support immigration support, to investment as a business angel in companies that are gradually selected.
“We attract Italian and American start-ups and SMEs with Italian partners that have an average turnover of less than one million euros (or dollars) and are focused on developing digital and technological products or services, because that is the sector in which we are strongest and most competent,” say the partners.
There are many success stories aided by 42N, from companies innovating robotics such as Oversonic and Robomagister with its Liffo kitchen robot, to Re-Monitor for geo-technical studies, to artificial intelligence solutions such as Osense for risk management and Ada iQ for product development.
The initiative was launched in 2021 and is now active in Boston, where it has its headquarters, as well as in New York, Denver, Los Angeles, San Francisco and Chicago. It has over 30 members, 22 of whom are part of the original core group that started the project. Over the years, it has organised five pitch contests, with the next one scheduled for April 2026, and four conferences on innovation and design, another area that 42N members are very interested in, in addition to digital innovation.
Other noteworthy activities include market research, communication support, talent scouting and, in particular, investments, of which there have been seven to date, with four exits already. The investments raised by the companies supported over the years range from cases where angel investors have invested between $200,000 and $400,000, to crowd investments of $700,000, to venture capital operations that have entered with figures between $2.5 and $3 million. There have also been four exits, with the companies invested in entering the orbit of multinationals. (photo, view of Boston, by Osman Rana on Unsplash)
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