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THE ITALIAN AGENDA
POLICIES AND STRATEGIES
FOR STARTUPS
ITALIAN MINISTER OF ECONOMIC DEVELOPMENT’S
TECHNICAL SECRETARIAT
SOCIAL MOBILITY
JOB CREATION
INNOVATION
MERITOCRACY
ENTREPRENEURSHIP
COMPETITIVENESS,
GROWTH
#RESTARTITALIA
BUILDING A NEW POLICY
#RESTARTITALIA
OPEN CONSULTATION
WITH +2,000
KEY PLAYERS
PUBLIC TASK FORCE
(12 TOP EXPERTS)
LAW 221/2012
ITALY’S STARTUP ACT
INNOVATIVE STARTUP
LAW 221/2012
ITALY’S STARTUP ACT
DEFINITION
• NEW OR ESTABLISHED FOR NO LONGER THAN 48 MONTHS
• RESIDE OR BE SUBJECT TO TAXATION IN ITALY
• TURNOVER LOWER THAN 5 MILLION € (6.4 MILLION $)
• IT DOES NOT DISTRIBUTE PROFIT
• ITS CORE BUSINESS CONSISTS OF INNOVATIVE GOODS OR
SERVICES OF SIGNIFICANT TECHNOLOGICAL VALUE
• IT DOES NOT ORIGINATE FROM A MERGER, DEMERGER OR
DIVESTMENT PROCESS
LAW 221/2012
ITALY’S STARTUP ACT
INNOVATIVE STARTUP
• MEETS AT LEAST ONE OF THE FOLLOWING CRITERIA:
1. 15% OF ITS COSTS ARE RELATED TO R&D
2. AT LEAST 1/3 OF THE TEAM IS MADE UP OF PEOPLE WHO
EITHER HOLD A PHD OR ARE PHD CANDIDATES IN ITALY OR
ABROAD OR HAVE CONDUCTED RESEARCH FOR AT LEAST 3
YEARS OR AT LEAST 2/3 OF THE TEAM IS MADE UP OF PEOPLE
HOLDING A MASTER’S DEGREE
3. IT IS THE OWNER OR THE LICENSEE OF A PATENT OR A
REGISTERED SOFTWARE
LAW 221/2012
ITALY’S STARTUP ACT
INNOVATIVE STARTUP
MAIN SUPPORT MEASURES
LAW 221/2012
ITALY’S STARTUP ACT
INNOVATIVE STARTUP
INNOVATIVE STARTUP
LAW 221/2012
ITALY’S STARTUP ACT
• ONLINE REGISTRATION THROUGH SELF-CERTIFICATION
• NO FEES DUE TO THE CHAMBER OF COMMERCE FOR ANY KIND OF
DOCUMENT
• FLEXIBLE CORPORATE MANAGEMENT TOOLS – S.R.L. = S.P.A.
• ZERO TAX REGIME FOR COMPANIES SUFFERING FROM SYSTEMATIC
LOSSES
• FAIL FAST MECHANISM
CUTS IN RED TAPE
LAW 221/2012
ITALY’S STARTUP ACT
• FIXED-TERM LABOUR CONTRACTS APPLICABLE FOR THE WHOLE
STARTUP’S LIFE CYCLE
• VARIABLE PAY DEPENDING ON THE STARTUP’S PERFORMANCE
• WORKERS & CONSULTANTS PAID WITH STOCK OPTIONS AND WORK
FOR EQUITY (TAXABLE AS CAPITAL GAIN!)
• 35% TAX CREDIT ON ALL COSTS FOR HIRING HIGHLY QUALIFIED
PERSONNEL
TAILOR-MADE LABOUR LAW
INNOVATIVE STARTUP
INNOVATIVE STARTUP
LAW 221/2012
ITALY’S STARTUP ACT
• ROBUST TAX RELIEF ON INVESTMENTS INTO STARTUP’S EQUITY BY
ANGEL INVESTORS, VCS AND CORPORATES
• POSSIBILITY OF RAISING MONEY THROUGH EQUITY CROWDFUNDING
ONLINE PORTALS (FIRST TAILOR-MADE LAW ON AN INTERNATIONAL
LEVEL )
• FREE, FAST-TRACK PUBLIC GUARANTEE ON BANK LOANS, COVERING
80% OF THE LENT SUM
INCENTIVES FOR FUNDING & INVESTMENTS
Italia Startup Visa
THE ITALIAN GOVERNMENT POLICY TO ATTRACT INNOVATIVE
ENTREPRENEURS FROM ALL OVER THE WORLD
Italia Startup Visa
• VISA FOR EXTRA-EU CITIZENS WILLING TO
SET UP AN INNOVATIVE STARTUP IN ITALY
• CENTRALIZED PROCEDURE (ISV
TECHNICAL COMMITTEE)
• THE COMMITTEE EVALUATES THE
APPLICATION (CV + BUSINESS MODEL)
WITHIN 30 DAYS
#ItaliaStartupVisa
Italia Startup Visa
#ItaliaStartupVisa
• FINANCIAL RESOURCES FOR AT LEAST
50,000 € ARE REQUIRED
• PROCESS ENTIRELY MANAGED ONLINE,
THROUGH A DEDICATED WEBSITE:
ITALIASTARTUPVISA.MISE.GOV.IT
• 220 MILLION € MADE AVAILABLE FOR 0 INTEREST RATE STARTUP LOANS
• LENDING COVERS UP TO 80% OF INVESTMENT PROGRAMS AMOUNTING UP TO 1,5
MILLION €
• TARGET: INNOVATIVE STARTUPS AND INDIVIDUALS WILLING TO SET UP ONE WITHIN
60 DAYS, INCLUDING EXTRA-EU HOLDERS OF A STARTUP VISA
• FAST-TRACK FOR PROGRAMS FINANCED FOR AT LEAST 30% WITH CAPITAL
PROVIDED BY QUALIFIED INVESTORS
NURTURING HIGH-TECH STARTUPS
#SmartStart2
MORE THAN 2,900 HIGH-TECH STARTUPS: 56% LOCATED
IN NORTHERN, 23% IN CENTRAL AND 21% IN SOUTHERN
ITALY
SECTORS: 77% OPERATE IN SERVICES, 19% IN
INDUSTRY & CRAFTSMANSHIP, 4% IN TRADE
600 MILLION € TURNOVER
OVER 13,000 PARTNERS AND EMPLOYEES
ONLINE DATABASE: STARTUP.REGISTROIMPRESE.IT
THE ITALIAN STARTUP ECOSYSTEM
INCUBATOR ECOSYSTEM
32 CERTIFIED INCUBATORS (22 IN NORTHERN ITALY)
30 EMPLOYEES AND 3 MILLION € TURNOVER PER COMPANY
THE ITALIAN STARTUP ECOSYSTEM
2,908 NEW STARTUPS
110 MLN € OF LOANS PROVIDED TO ISU THANKS TO PUBLIC GUARANTEE FUND
32 CERTIFIED INCUBATORS
15 STARTUP VISAS UNDER EVALUATION
11 EQUITY CROWDFUNDING PORTALS
RESULTS SO FAR
THE ITALIAN STARTUP ECOSYSTEM
• MADE IN ITALY: A KEY DRIVER FOR THE SCALING-UP OF YOUR
STARTUP
• HIGH-QUALITY AND COMPETITIVE SKILLS
• GRASSROOTS MANUFACTURING CULTURE (FAST AND CHEAP
PROTOTYPING)
• ARTISTIC AND CULTURAL HERITAGE IS AN UNTAPPED ASSET
STRENGHTS
THE ITALIAN STARTUP ECOSYSTEM
• ITALY IS A GATEWAY TO STRATEGIC MARKETS
• ITALY’S LIFESTYLE AS AN ASSET TO ENHANCE WORKING
ENVIRONMENT
• ADVANCED CONSUMPTION HABITS, WITH OPPORTUNITIES FOR
EXPANSION FOR INNOVATIVE PRODUCTS AND SERVICES
STRENGHTS
UPCOMING INTERNATIONAL EVENTS
#ITALIARESTARTSUP: 9-10 DECEMBER 2014, MILAN
THE ITALIAN MINISTRY OF ECONOMIC DEVELOPMENT AND
THE ITALIAN TRADE AGENCY HAVE TEAMED UP TO CREATE
THE FIRST DEDICATED EVENT FOR CO-FINANCING
OPPURTINITIES BETWEEN 50 ITALIAN AND 50 INTERNATIONAL
INVESTORS ON A SELECTED POOL OF 69 TOP ICT, DIGITAL,
CLEANTECH AND BIOTECH STARTUPS JUST ON THE VERGE
TO SCALE UP
UPCOMING INTERNATIONAL EVENTS
UPCOMING INTERNATIONAL EVENTS
UPCOMING INTERNATIONAL EVENTS
GEC 2015 – 16-19 MARCH 2015, MILAN
THE GLOBAL ENTREPRENEURSHIP CONGRESS IS AN INTER-
DISCIPLINARY GATHERING OF STARTUP CHAMPIONS FROM
AROUND THE WORLD WHERE ENTREPRENEURS, INVESTORS,
RESEARCHERS, THOUGHT LEADERS AND POLICYMAKERS
FROM +140 COUNTRIES WORK TOGETHER TO HELP BRING
IDEAS TO LIFE, DRIVE ECONOMIC GROWTH AND EXPAND
HUMAN WELFARE
UPCOMING INTERNATIONAL EVENTS
UPCOMING INTERNATIONAL EVENTS
EXPO MILANO 2015 – 1 MAY - 31 OCTOBER 2015
EXPO MILANO 2015 IS A NON-COMMERCIAL UNIVERSAL
EXPOSITION WITH VERY UNIQUE AND INNOVATIVE FEATURES.
IT IS AN INCREDIBLE SOCIAL AND ENTREPRENEURIAL
PROCESS WHICH GATHERS A LARGE NUMBER OF IMPORTANT
PLAYERS FROM ALL OVER THE WORLD TO CONTRIBUTE TO
THE THEMES OF FEEDING THE PLANET AND ENERGY FOR
LIFE
• INSTILL ENTREPRENEURIAL CULTURE AND INNOVATION IN SCHOOLS (IN
COLLABORATION WITH THE ITALIAN MINISTRY OF EDUCATION, UNIVERSITY AND
RESEARCH)
• DEVELOP AND INTERNATIONALIZE VC AND CORPORATE VC FINANCING,
ESPECIALLY FOR MATURE INVESTMENT ROUNDS (REFINANCING OF VC FUND OF
FUNDS HELD BY THE ITALIAN INVESTMENT FUND)
• FACILITATE NETWORKING BETWEEN TRADITIONAL COMPANIES AND STARTUPS
(TAX CREDIT ON CONTRACTED R&D ACTIVITIES)
• FOSTER CROSS-FERTILIZATION WITHIN UNIVERSITIES (4 “CONTAMINATION LABS”
ALREADY LAUNCHED IN SOUTHERN ITALY - #CLAB)
• PROMOTE NETWORKING BETWEEN INCUBATORS, INSTITUTIONS, RESEARCH
CENTERS AND FINANCIAL INSTITUTIONS (WE NEED TO DEVELOP A STRONGER
TEAM WORK ATTITUDE)
• INTRODUCE GREATER COORDINATION BETWEEN NATIONAL AND REGIONAL
PUBLIC POLICIES (NEW GUIDELINES)
• SPEND EU FUNDS MORE EFFECTIVELY (SUPPORTING STARTUPS IN THE
PARTICIPATION IN EUROPEAN TENDERS)
