Innovation in Milano touches several areas: pharmaceuticals, food, fintech, fashion.
Italy is among the world’s largest exporters of pharmaceuticals in per capita terms. Milano dominates the Italian pharma industry and is the 2nd research hub for pharmaceuticals in the EU. Milano’s health care industry revolves around 17 Research Hospitals (IRCCS), 60% of the national amount. But the milanese Life Sciences ecosystem is not only limited to Pharma: the city hosts 1,394 Medical Devices companies with 37,000 people employed.
Since the hosting of the World Expo Milano 2015, themed “Feeding the Planet, Energy for Life” Milano was appointed world capital of food. The city is a major hub for Italy’s agri-food and functional foods industry, with 986,853 hectares under cultivation in the Region, a strong specialization in Nutraceuticals, Dairy production, Machinery, and Food Packaging.
Food in figures:
€575 bln Agrifood industry accounts for 25% of Italy’s GDP
74+ foreign agri-food companies located in Lombardy employing more than 18,900 people
33% of Italy’s Agri-food startups which received 53% of allocated funding are based in Lombardy
Milano has developed a mature Fintech ecosystem, within an already established, strong network of financial institutions which make Milano one of the global financial capitals.
Fintech in figures:
47% of the Italian Fintech companies are located in Milano
The city’s financial services count over 13.000 companies and employ nearly 128,847 employees
Last but foremost, Milano stands out as one of the world capitals of fashion.
Fashion in figures:
11,000 companies operating in the sector
€14.7+ bln revenues in 2021