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Italian Start Up Act

Posted on: 13 Apr 2018

Country: Italy

Continent: Europe

Policy Area: Technology exchange & innovation

Type Of Policy Resource: Tested policy

Description: The Italian Startup Act (ISA) is a based on a legal definition of innovative startup as a specific kind of firm and brings the a wide array of tailor-made policy tools: Incorporation online and for free; Cuts through red tape and fees; Italia Startup Visa&Hub; Tailor-made labour regulations; Equity crowdfunding; 30% tax break for investors, and many more measures. According to the defintion, innovation startup are: Limited companies, new businesses, or operational for less than 5 years, yearly turnover below €5 mln, not listed on the stock market, with At least 15% of annual costs are linked to R&D expenditure OR employs highly qualified personnel (at least 1/3 PhD holders and students, or researchers, or at least 2/3 Master’s graduates) OR is the owner, depositary or licensee of a registered patent, or the owner of a registered software.

Aim: The Italian Startup Act (ISA) is a comprehensive legislative framework aimed at facilitating the creation and the growth of new hi-tech companies. The purpose is to support startups throughout their lifecycle (first steps, growth, maturity) and strengthen the national startup ecosystem (investors,incubators, universities…) as a whole

Implementing agencies: Ministry of Economic Development

Evidence of results: In 2017 39.6% of newly-founded companies were incorporated through a new digital and free-of-charge procedure. 1,117 incorporations since July 2016. Between September 2013 and December 2017, €600m of loans were granted with the support of the Guarantee Fund for SMEs; €220m in 2017 alone and only 1.8% of startups defaulted on their credit so far. The amount collected through equity crowdfunding campaigns tripled between 2016 and 2017.

Links: http://www.mise.gov.it/images/stories/documenti/Executive-Summary-of-Italy-s-Startup-Act-new-format-23_02_2017.pdf

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