Italian Innovation Awards Lands in Shanghai

On Monday night, visitors to the Bund, around the vicinity of House Roosevelt, might've found it strange that they were hearing a few more Italian accents than usual.

It was the 3rd annual edition of the prestigious "Corradino D'Ascanio for Innovation" Awards, recognizing the best cross-border collaboration and innovation between Chinese and Italian businesses. Think slick designer suits, champagne glasses clinking and many a firm business handshake in a glitzy Old World setting.

The post-ceremony celebrations nearly raised the roof. No really. Attendees were mesmerized by an exclusive performance of the professional cast of the Divine Comedy Opera Musical. The Italian theatre group is currently gracing Chinese audiences with their angelic talents on a five-month tour of the Middle Kingdom.

Supported by the Region of Abruzzo, all the usual suspects were there: the Italian Consulate, representatives from Abruzzo, the Italian Trade Agency (ICE), the Regional Council of Abruzzesi in the World (CRAM) and plenty of business leaders from both China and Italy. City News Service was there to find out what this award really means for Shanghai's international business landscape. And of course, to rub shoulders with successful business leaders and talented musical performers.

The Abruzzo-Shanghai Connection

CNS：Abruzzo keeps coming up in this conversation. How does this region fit into all of this?

The purpose of the award is to highlight the excellence of Italy's Abruzzo region in China, to celebrate the innovation of Italian and Chinese companies, and foster business and cultural exchanges with China. A second goal is to promote Abruzzo tourism, known as the greenest region in Europe, with its beautiful ski slopes, hiking, great food and wine and a robust hub for manufacturing.

Says Carlo D'Andrea, who also serves as vice president of the European Chamber of Commerce in Shanghai, "The largest Abruzzo community in China is in Shanghai, the innovation center of China. In our annual EU Chamber of Commerce business survey, two-thirds of members answers that Shanghai is the most innovation city in China, and the best city to establish a research & development center."

The Man Behind the Name

CNS：Who is Corradino D'Ascanio, and why does he get his own award in Shanghai?

Corradino D'Ascanio was a famous Italian engineer from the Abruzzo region remembered for inventing THE vertical-take-off helicopter prototype, and for designing the iconic Vespa scooter – that slick-looking city scooter that so many movie stars was photographed riding in the 1960s & 1970s. The award was established to honor his legacy and to recognize Chinese and Italian companies whose work similarly embodies innovative industrial design.

Pierluigi Gorgoretti, president of the Abruzzo Association in China added, "This award represents the Abruzzo region and the innovation that the name suggests. It honors companies that have showcased that same innovative spirit in their product design and technology, and our connection to Shanghai, one of the world's most dynamic business environments."

This Year's Two Award Winners

Each year two companies are selected for the award, one Italian company investing in China, and one Chinese company with significant business commitments in Italy. A selection committee, made up of members of the institutional, academic and business communities, chose the finalists after an in-depth evaluation process.

The winners represent different approaches to one criteria: innovation across borders.

Midea Italia S.r.l. was recognized for what the committee called "impressive growth trajectory and innovation within the global industrial landscape." A company with humble beginnings in south China, it has grown tremendously through innovation, evolving into a world leader ranked number 1 globally by market share for air-cooling and heating systems. They are a true bridge between China and Italy.

Walter Tosto S.p.A. is based in the heart of the Abruzzo region, is "a pioneering leader in heavy industry technology, known for their commitment to development." The company produces massive equipment for petrochemical and energy plants. They have been shipping to China since the turn of the century, and are a true bridge between the Chinese and local Abruzzo economy.

The awards were presented by Tiziana D'Angelo, Consul-General of Italy in Shanghai, Dr Augusto Di Giacinto, director of the ICE Agency in Shanghai, Pierluigi Gorgoretti, president of the Abruzzo Association in China, Alessandra Relmi, director of the Confederation of Italian Manufacturing Industry and Private Enterprise, and Arch. Luigi Febo, president of the City Council of Chieti, making a special appearance. He just renewed a 30-year partnership agreement with Yancheng in Jiangsu Province – talk about a long-term business relationship!

Midea's General Manager for Italy and Eastern Europe, Alberto Di Luzio:

An Abruzzo native, Di Luzio joined the company in 2019. Based in Milan, he is responsible for positioning the company and scaling up Midea's different product categories and channels. "This award means a lot. Our company prides itself on innovation, so this award is wonderful recognition for our efforts to invest in innovation," Di Luzio said.

"Product leadership is a key pillar of our overall strategy. We invest billions of dollars in research & development, to ensure our products are innovative, yet simple and user-friendly. In China, some of our factories are 100 percent automated, and we are seen as a global product leader in product innovation in our category. The China domestic market makes up 55 percent of our business, and we are a proud Chinese company, with strong ties to Italy."

Walter Tosto's Global Purchasing & Logistics Manager, Andrea Tina:

A procurement, supply chain and logistics veteran of more than 24 years, part of Andrea's responsibility is building long-term vendor and supplier relationships. "Its an important award for us. It represents a beautiful and important cooperation with China. We work hard to find the right Chinese partners to develop a future together. We started our operations in China in 2002, a very important market. We export to China from our factories in Abruzzo, and we buy from China. I love Shanghai, everything here happens so fast, faster than in London or Los Angeles," said Andrea.

A massive congrats to both companies.