“Smart & Start Italia”, incentives to support the birth and growth of innovative start-ups
“Smart & Start Italia” project, aimed at promoting and supporting, throughout the Italian territory, a new entrepreneurial culture linked to the digital economy and enhancing the results of scientific and technological research
The project has been introduced by the Italian Ministry of Economic Development with decree of 24th September 2014.
The projects financed by the incentive are between € 100,000 and € 1.5 million. The application can be only submitted online, on the Invitalia platform, by innovative startups established no more than 60 months ago and registered in the special section of the business register.
“Smart&Start Italia”: objectives and recipients of the project
The recipients of the “Smart & Start Italia” project are:
- small-size innovative start-ups consisting of no more than 60 months;
- a team of persons who want to set up an innovative start-up in Italy (even if resident abroad, or in possession of the “Visa start-up”);
- foreign companies that undertake to establish at least one office on Italian territory.
“Smart & Start Italia” supports the birth and growth of innovative startups with a high technological content in all Italian regions.
The objectives of the projects aim to:
• stimulate a new entrepreneurial culture linked to the digital economy;
• enhance the results of scientific and technological research;
• encourage the return of “brains” from abroad.
Projects that can be funded must have costs between € 100,000 and € 1.5 million.
How funding is provided by “Smart&Start Italia”?
“Smart&Start” provides funding through a zero-rate loan, without any guarantee, to cover 80% of the eligible expenses between € 100,000 and € 1.5 million, for the purchase of the following services:
- investment goods, services and personnel expenses (e.g.: new plant, machinery and equipment; hardware and software components; patents, trademarks and licenses; specialist technological consultancy; wage costs relating to employees, investments in marketing, etc.);
- business operating costs (e.g.: raw materials; services necessary for carrying out the company’s activities, hosting and housing, enjoyment of third party assets).
The business project must have at least one of the following characteristics:
- have a significant technological and innovative content;
- be oriented towards the development of products, services or solutions in the field of digital economy, artificial intelligence, blockchain and the internet of things;
- be aimed at the economic exploitation of the results of public and private research.
“Smart&Start Italia”: how to apply?
Applications can be sent online through the Invitalia web platform from 20 January 2020.
To request the benefits, it is necessary to register to the Invitalia online services. Once registered, it is possible to fill in the application directly online, through the reserved area and to upload the business plan and the required attachments.
A digital signature and a certified e-mail address are required for the application procedure. At the end of procedure an electronic protocol will be assigned.
To notice that the person who can apply varies according to the type of company:
- for companies already established: the application must be presented by the legal representative of the company who must digitally sign it;
- for unincorporated companies: the application must be presented by the natural person referring to the project who must digitally sign it. The contact person for the project must be one of the future partners of the company.
There is no deadlines or rankings, applications will be evaluated by Invitalia on the basis of the order of arrival, until all funds are available. The assessment includes a formal verification and an assessment of merit which ends in 60 days, except for any requests for integration of the documents.
Coscia law firm, thanks to its team of professionals specialized in consulting and assistance to innovative start-ups and SMEs:
- provides private and interested companies with specific and complete advice on the requirements and methods of acquiring the funding provided by the “Smart & Start Italia” project, assessing in advance the existence of the conditions necessary for the acceptance of the application;
- assists companies in preparing the necessary documentation and forwarding it through the online platform;
- manages the practice until its successful conclusion.
Contact us immediately on +39 3711453121 or by e-mail at firstname.lastname@example.org, to obtain financing for € 1.5 million, before the available resources run out.