April 16, 2024

Paola Monteferri: From IT Sector Pioneer to Innovative Startup Advocate



Paola Monteferri, Business Angel at Italian Angels for Growth (IAG), Senior Sales Leader across EMEA with over 30 years of experience in IT, boasts significant expertise in business development, sales management, as well as deep knowledge in Artificial Intelligence, Machine Learning, Hybrid Cloud, Analytics, digital transformation, mainframe systems, and software pricing models. Let's get to know her better.

Could you tell us about your professional experience and the most significant moments of your career where you faced complex challenges?

After graduating in Statistical and Economic Sciences from La Sapienza University in Rome and a brief period in research, I joined IBM, embracing Information Technology, especially considering that during those years statistics suffered from the lack of what is now known as the "new gold": data.

The first challenge in the company was primarily about life because, after an initial three-month training, I was "catapulted" to the United States, not to New York or San Francisco but to a small town in North Carolina formed around the company's Research and Development Laboratories. So, from the capital of Italy, I found myself living alone for months, far from my loved ones, in the remote American province, knowing very little of the language and nothing about computers. The first months were really difficult, but my managers at that time had understood before me that I would make it, and in the meantime, I was starting to realize that I was resilient.

After a few years spent in the Research and Development laboratory, I moved to the Software sales sector and faced another significant challenge as the responsible for Italy for the product line for managing central mainframe systems, the beating heart of most Financial Institutions and central Public Administration. In those years, I felt an enormous responsibility and gave my best to provide the best solutions and support, also thanks to my team, to the clientele.

How have you integrated new emerging technologies, such as Artificial Intelligence and data analysis, into your sales strategies, and how have they influenced your approach to the market?

Data analysis is my passion, and in every job, I have tried to grasp everything that the available data could tell me. Therefore, I have sought to have a data-driven approach to make informed decisions.

The data analysis I perform in my work concerns historical results in order to identify what has worked to exploit it as a reference and what has not worked to improve it. Furthermore, it helps me predict sales trends and any deviations from the set objectives and allows me to define the best strategy for the industry sector and for each country.

Regarding Artificial Intelligence, there is a great and growing interest in the adoption of generative Artificial Intelligence solutions, which represents an opportunity with a significant economic impact and is fundamental for the challenge of "digital transformation." At the same time, AI used in the business world must be explainable, impartial, transparent, and respectful of privacy; adhering to these values, its application has numerous use cases, such as supporting human resources and describing job positions, preparing marketing campaigns with personalized emails for customer types, sentiment analysis, and customer support.

What is the role of business leaders in promoting an inclusive and diverse corporate culture?

I have been fortunate to have a beautiful example of leadership: in 2019, IBM launched the Be Equal campaign to promote every dimension of equality within and outside the organization. Inclusion and diversity are highly relevant concepts, and in the context of an international company where the workforce is increasingly diverse, it is crucial to adopt inclusive practices that recognize the value of diversity. This is not only an ethical requirement but also a business strategy that leads to a competitive advantage.

The aim is to promote an inclusive environment where all members of the organization feel valued, and where their differences are seen as sources of enrichment rather than barriers.

Different perspectives are needed to ensure and enhance creativity and innovation.

In my current role overseeing Europe, the Middle East, and Africa, I am in close contact with specialists from all these countries daily. Each of them has their own sales and customer relationship approach, influenced by culture and traditions. I always try to adapt to their approach, and working with colleagues from such diverse cultures is a source of great growth and enjoyment for me.

Regarding female presence in the company, the Information Technology sector is one where there is a strong presence of women, but there is certainly a need for progress in top positions. In this regard, an interesting study conducted in 2023 by the IBM Institute for Business Value involved 2,500 companies from 12 countries across 10 industry sectors. The study found a small increase in the number of women in C-suite positions and on Boards of Directors (12% in both cases), and an increase of up to 40% in female representation among junior professionals/specialists (37% in 2021). However, the pipeline for top positions has not yet returned to pre-pandemic levels, with 14% of women in the role of senior vice president (18% in 2019) and 16% as vice president (19% in 2019). Furthermore, less than half (45%) of the participating organizations report considering a business priority to have a greater number of women in leadership roles. Personally, I believe that to thrive in a rapidly evolving world, organizations must prioritize the advancement of women and all historically underrepresented groups and take action to overcome structural barriers and biases.

What was your first encounter with the world of business angels and venture capital, and what prompted you to join Italian Angels for Growth?

My first encounter with the world of business angels was in 2020 when my family decided to invest in a startup dealing with Wealth Management and then in one dealing with Digital Marketing, both recommended to us by a friend. So, in 2021, I had the opportunity to get to know and become part of IAG, to share investment operations and to benefit from the scouting and support of the team.

What particularly struck me about IAG is the sharing of experiences, networking, training opportunities, and the chance to meet entrepreneurs, board members, and women of great value and experience holding top positions and making their knowledge available. Very important is the principle of Give Back, which is a primary characteristic of business angels, who "remember what they received and give back" creating a virtuous circle. Another aspect that I find extremely interesting is the diversity of application fields of entrepreneurial activities, which allows getting closer to sectors even far from one's own working competence area.

What were the main obstacles you encountered in your journey as an investor in the startup sector and how did you overcome them?

Entering IAG at the beginning of 2021, amid the pandemic, the difficulty as a newcomer was primarily the lack of in-person meetings, thus being able to only remotely attend IAG meetings or screening sessions. It was only thanks to the IAG team that I gradually started to learn the terminology and orient myself better.

The various training workshops and suggestions from experienced members were also very helpful. From them, I understood the importance of spreading risk and diversification, the need to carefully weigh investment decisions by trying to understand the scalability and solidity of the business plan.

What advice would you give to those interested in entering the world of business angels or venture capital, based on your personal and professional experience?

The advice is certainly to join an Investors group to orient oneself better and take advantage of the opportunities it offers in terms of networking, sharing managerial experiences, corporate culture, as well as the valuable activity of screening and initial due diligence.

Therefore, I believe that entering the world of business angels, and IAG in particular, is a win-win situation for both the investor and the entrepreneur.