Slides presented during #ISVwebinar n°1, 12 September 2016. Content: Smart&Start Italia, the financing initiative for innovative startups managed by Invitalia. Rules of the programme and key data on applicants

1. INCENTIVES FOR
INNOVATIVE START-UPS
September 2016

2. 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.)
2

3. 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
3

4. 4
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)

5. 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€ 5
Smart&Start Italia for innovative start-ups

6. 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

7. 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

8. 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

9. 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
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Smart & Start Italia – eligible expences

10. 10
Smart & Start results (2013 – 2016)
New
employment
695
213
mln €
3.190
2.493
201
mln €
Submitted
applications
New firms
New
investiments
Allocated funds

11. 11
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

12. 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.

13. 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

14. 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

15. 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
15
Identikit of the typical Smart&Start startupper
8%
Students/
researchers 5%
Unemployed

16. 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.

17. 17
www.invitalia.it
www.smartstart.invitalia.it
848.886886
dpatuzzi@invitalia.it
Contacts

18. 18
Thanks!