Luca Seletto is the Hub Manager for Enel Innovation Hub in Boston, part of a global network of innovation hubs run by Enel, one of the world's largest electricity operators. The network spans Israel, Russia, Spain, Italy, Chile, Brazil, and the US, with a focus on identifying and partnering with startups through commercial — not equity — collaboration.
What We Cover
- Why Enel chose commercial partnerships over venture capital investment
- How the Enel innovation hub network was built, starting in Israel
- What a hub manager actually does day-to-day
- How to identify and prioritize startup opportunities from across a global business
- The push vs. pull dynamic: scouting startups vs. being found by them
- How hub managers manage the handoff from ecosystem to business divisions
Timestamps
00:00 – Introduction
02:11 – What Enel does and how the hub network works
04:13 – Why Enel doesn't invest in startups — and why that's a competitive advantage
07:54 – The startup perspective: why no equity is a feature, not a bug
09:50 – The global hub network: seven locations and counting
13:19 – The role of the hub manager: connector, scout, and translator
17:14 – How Enel prioritizes innovation needs across business units
21:48 – Push vs. pull: scouting startups vs. being found by them
29:00 – How COVID changed the hub's operations
Key Takeaways
- Commercial partnerships beat equity for startup collaboration. Enel's decision to not take equity removes friction and competition concerns — and makes it a more attractive partner for startups and the VCs that back them.
- A hub's real value is the relationships it maintains. With lean teams of one or two people per location, the hub's job is to build and maintain deep relationships with local ecosystems and connect them to the right business division at the right time.
- Timing is everything. A great technology at the wrong moment gets killed. The hub manager's job includes knowing when — not just whether — to introduce a startup to a business unit.
Resources & Links Mentioned
- Enel Open Innovability: openinnovability.enel.com
Where to Find Luca Seletto
LinkedIn: linkedin.com/in/lucaseletto
Where to Find Yaniv Corem
Link in bio: sleek.bio/yanivcorem
LinkedIn: linkedin.com/in/yanivcorem
Subscribe & Follow
If you enjoyed this episode, subscribe to The School of Innovation so you never miss a conversation.
Listen on Spotify: open.spotify.com/show/5VOBVkueP7zg5ErNYtrmPL
Listen on Apple Podcasts: podcasts.apple.com/us/podcast/the-school-of-innovation/id1498420449
Have a guest recommendation or want to be on the show? Email [email protected]
For inquiries about sponsoring the podcast, email [email protected]