In fact, the projects presented were 2048; of which 521 received positive results, 1469 were not suitable while 58 are in the evaluation phase. To date, 1,007 innovative startups have been financed, with 340 million concessions granted which have helped to create 5,504 new jobs.
But what is Smart & Start Italia and what does it finance?
Smart & Start Italia is the incentive of Mise and is managed by Invitalia. Its purpose is to support innovative startups with a high technological content and to finance spending programs whose amount is between 100 thousand euros and 1.5 million euros. The goal is to stimulate a new entrepreneurial culture linked to the digital economy, enhance the results of scientific and technological research and encourage the return of “brains” from abroad. Small-sized innovative startups established for no more than 60 months and registered in the central section of the business register, teams of individuals who want to set up an innovative startup in Italy (despite having their residence abroad), citizens can apply for this loan. foreigners in possession of the Startup Visa and foreign companies that undertake to set up at least one office in Italy.
New evaluation criteria adopted for the assignment of incentives that support the birth and growth of innovative startups throughout the national territory.
With the circular no. 439196 of December 16, 2019 of the Directorate General for business incentives, on the basis of the new discipline introduced by the Decree of the Minister of Economic Development of August 30, 2019, several changes were made:
- Simplification of the evaluation and reporting criteria;
- New bonuses introduced for collaborations with research organizations, incubators and business accelerators (including digital innovation hubs) and for the implementation of business plans in the south by startups already operating in the center-north;
- The subsidized loan was increased up to 90%;
- The non-repayable fund reaches up to 30% for companies in the South;
- Longer amortization period for the repayment of the loan up to 10 years;
- Recognition of a loan amount to cover the working capital needs for the period of implementation of the business plan;
- Increase in subsidized funding up to 80% of eligible expenses, to 90% in the case of companies made up of women only, under 36 or if a partner has the title of PhD;
- Easier reporting with the possibility of obtaining payments by SAL through receipted invoices
these criteria came into effect this year.
When will it be possible to apply and where?
It will be possible to submit the application for facilitation starting from January 20, 2020. The application can be submitted by registering on the Invitalia online platform, where it will be necessary to indicate an ordinary e-mail address, fill in the application and upload the Business plan and attachments. It is necessary to have a digital signature and a certified e-mail address (PEC). At the end of the compilation of the business plan and the electronic submission of the application and related attachments, an electronic protocol will be assigned. There are neither deadlines nor rankings. Applications will be evaluated at the counter, based on the order of arrival and until all funds are used up. Each evaluation includes:
- a formal verification;
- an evaluation of merit;
- interview with Invitalia experts
ends in 60 days except for any requests for integration of documents.
A webinar is coming
On 29 January at 10:00 am, ” Let’s Start : introduction to Smart & Start Italy and how to access the benefits” will take place, where the Invitalia experts will present the characteristics of the incentive live on video and will help you become familiar with the online platform on to upload the business plan and submit the application. It will be possible to follow the event from your PC and interact live by asking questions. In order to allow for adequate interaction, there is a maximum number of participants.