#ISVwebinars n° 1: Smart&Start Italia - Daniela Patuzzi
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Transcript of #ISVwebinars n° 1: Smart&Start Italia - Daniela Patuzzi
INCENTIVES FOR
INNOVATIVE START-UPS
September 2016
Invitalia’s committment for innovative start-ups
• Invitalia is the Government Agency for investment promotion and
enterprise development, aimed at enhancing the country’s competitiveness, particularly in Southern Italy, and at supporting strategic sectors.
• For more than twenty years Invitalia has been supporting investment programs submitted by new or existing enterprises. Lately the focus has been on innovative start-ups (incentives for hi-tech and research spin-off, economic advantage from patents, etc.)
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Invitalia’s incentives management
The Agency, within the framework of the incentives, performs the
following main activities:
• promotion of entrepreneurial culture and incentives opportunities (workshops, events, meetings, webinars, etc);
• assessment of the submitted applications and business plans;
• disbursement of the financial incentives to the beneficiaries;
• start-up services (tutoring, technical assistance, managerial training)
• monitoring of the beneficiaries compliance with the incentives obligations
Most of such processes are ISO 9001 certified
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Fostering new enterprises: results in more than twenty years
Applications (n.):
346,025
Allocated funds:
8,683 mln€
New investments:
6,990 mln€
New firms (n.):
115,830
New employment (n.):
234,212 *
87.5%
9.1%
3.4%
*estimated
New firms per area (2011 – 2016)
These goals have led Invitalia to improve the mix of incentive tools and the way they’re managed, introducing simplified burocratic processes. Smart & Start is the first incentive designed for these new purposes and is the output of a new policy vision aimed at modernising the business environment by promoting the creation of favourable conditions for innovation-driven entrepreneurship and in particular at encouraging new businesses in the digital economy and from results of the research system. Main goals:
supporting innovation and technology transfer
attracting to Italy talented people from abroad
enhancing and bringing to market the results of public or private research Budget: about 220 mln€
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Smart&Start Italia for innovative start-ups
WHO
Innovative start-ups established for no more than 48 months (registered in the relevant section of the Companies Register (Art. 25 of Leg. Decree 179/2012 : what makes an “innovative start-up”) You don’t need to establish a company before applying: a person or a group of people, can apply. When funding is awarded, the innovative start-up must be created (within 60 days). Non EU citizens must hold an "Italia start-up VISA" at the time of application.
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WHAT
Three main types of innovative start-up: • those that have a high-tech, innovative business idea • those that develop products, services or solutions in the digital
economy • those that exploit commercial opportunities resulting from
research
Smart & Start Italia – who can apply
WHERE All over Italy
ASSESSMENT
You will be notified of the funding decision in about 60 days. Your application will be assessed considering: a confirmation that the funding requirements have been met; an evaluation of the start-up’s merits, including:
• how relevant the skills of the applicants are with regard to their business plan
• how innovative the idea is in terms of new product, service or solution
• the market potential, strategic positioning and marketing strategies
• the economic and financial sustainability of the business plan
• the technological and operational feasibility of the business plan
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HOW
Applications, containing the business plan, can be submitted only on the website www.smartstart.invitalia.it
Smart & Start Italia – how to apply
INCENTIVES
Interest-free loans (max repayment period: 8 years), covering:
up to 70% of the eligible expenses (max €1.050.000)
up to 80% of the eligible expenses provided that the start-up partners consists entirely of people under the age of 36 or women, or it includes at least one Italian Ph.D. permanently engaged abroad for at least 3 years
Innovative start-ups based in Southern Italy or Cratere Sismico Aquilano (the areas affected by the L'Aquila earthquake) receive also a grant, paying back only the 80% of the loan.
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Funds from the loan will normally be released for expenses actually incurred, following a request from the start-up. In some cases, however, they can also be requested in advance.
Smart & Start Italia – benefits
SERVICES Very new start-ups, set up in the last 12 months, are supported with technical and managerial mentoring
ELIGIBLE
EXPENCES
Expenses for investment and operating costs from 100,000 € to 1.5 mln€ (excluding VAT). They must be paid after the funding application and within 24 months from signing the funding agreement. Examples of eligible investments: • brand new plant, machinery or technical equipment • hardware and software • patents and licences • certifications, know-how and technical knowledge, directly related
to the start-up’s production Examples of eligible operating costs: • employee salary costs • licences and rights of IP rights • incubation and business acceleration services • leasing/rental fees related to the technical equipment • interest on loans granted to the company • depreciation charges for plant, machinery and technical equipment 9
Smart & Start Italia – eligible expences
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Smart & Start results (2013 – 2016)
New employment
695
213 mln €
3.190
2.493
201 mln €
Submitted applications
New firms
New investiments
Allocated funds
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Results: submitted applications
n° 877 (35%) from established companies
n° 1616 (65%) from physical persons (companies to be established)
Digital economy 65%
Product/process innovation
23%
Research spin-offs 12%
Application by field
Sectors N°
Aerospace 16 Environment and Energy 282
Industrial Automation 84
Bioagrofood 107 Cloud computing 322
E-commerce 440 E-government 38
Infrastructure and security 105 Internet of things 149
Life Sciences 124 New materials 117
Nanotech 15 Smart cities 125 Socialnetwork 202
Telecommunication 109 Transport 52
Tourism and Cultural heritage 206 Total 2493
New firms: productive sectors
• 440 are the new firms financed in the digital economy field (63%), with 98 €mln of new investments.
They are small enterprises that work mostly in the fields of cloud computing, e-commerce, social network, internet of things.
• 157 are the start-ups that work with new sperimental technologies (23%), activating 75 €mln of new investiments.
• 98 are the new firms born from scientific research (14%). These start-ups, mostly spin -offs, produce new investments for 40 €mln.
36 - 50 years old
< 36 years old
> 50 years old
42% 36 – 50 years old
YOUNG AGE
Most of the startuppers is about 40 years old (42%). Remarkable is also
the share of young startuppers (39%).
19% > 50 years old
39% < 36 years old
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Identikit of the typical Smart&Start startupper
women
men
men
80% men
76%
women
24%
YOUNG WOMEN
Women represent only 20% of startuppers. This share increases reaching
the level of 24%, if you consider only companies established by young
partners (under 36).
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Identikit of the typical Smart&Start startupper
women
20%
Under 36
Students/researchers
Unemployed
Self-employed/entrepreneurs
Employees
Remaining
49% Self-employed/entrepreneurs
BELIEVE IN YOURSELF!
Almost 30% of the financed startuppers were employees.
9% remaining
29% Employees
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Identikit of the typical Smart&Start startupper
8% Students/
researchers 5% Unemployed
Senior high school degree
Master/Ph.D.
University degree
56% University degree
HIGH EDUCATION
75% of the startuppers has an university degree. Furthermore, 11% has a
Ph.D. and 11% collaborates with public or private research centres.
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Identikit of the typical Smart&Start startupper
25% Senior high school degree
19% Master/Ph.D.
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www.invitalia.it
www.smartstart.invitalia.it
848.886886
Contacts
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Thanks!