What is Smart Money Smart Money aims to encourage the strengthening of the system of innovative Italian startups by supporting them in the implementation of development projects and facilitating their encounter with the innovation ecosystem. The envisaged benefits are granted in exchange for: – the support, by innovative startups, of the expenses connected to the implementation of an activity plan, carried out in collaboration with the actors of the innovation ecosystem operating for the development of innovative businesses – the entry into venture capital of innovative startups by the players in the innovation ecosystem.
Who is it aimed at?
Innovative startups which, on the date of submission of the application for the subsidy: - are classifiable as small businesses, pursuant to the provisions of Annex 1 of Regulation (EU) no. 651/2014; – have been regularly established for less than 24 months and registered in the specific special section of the Companies Register; – they are in the early stages of starting the business or in the first phase of testing the business idea (pre-seed), or they are in the phase of creating the product/market fit combination (seed); – have their registered office and operational headquarters located throughout the national territory; – aid identified as illegal or incompatible by the European Commission is not included among the companies that have received and subsequently not repaid or deposited in a blocked account; – have returned benefits enjoyed for which a recovery order has been issued by the Ministry of Economic Development; – are in the full and free exercise of their rights, are not in voluntary liquidation and are not subject to insolvency proceedings with liquidation purposes; – against whom the disqualification sanction referred to in Article 9, paragraph 2, letter d) of Legislative Decree no. 8 June 2001 has been applied. 231 and subsequent amendments; – whose legal representatives or administrators have not been convicted, with a final sentence or criminal decree of conviction that has become irrevocable or sentence of application of the sentence upon request pursuant to article 444 of the criminal procedure code, for the crimes that constitute grounds for exclusion of an economic operator from participation in a procurement or concession procedure pursuant to the legislation on public contracts relating to works, services and supplies in force on the date of submission of the application; – do not operate in the primary agriculture, fishing and aquaculture sectors. Natural persons who intend to set up an innovative startup can also access the benefits provided that, no later than 30 days from the date of the communication of admission to the benefits, the the company has been established and the application for registration in the ordinary and special section of the Business Register has been submitted.
What does it predict
To access the benefits, innovative startups must present a development project with the following characteristics: – be based on an innovative solution to be proposed on the market, already identified at the time of submitting the application for the benefit, although to be consolidated in the more operational aspects, that satisfies needs that make the project scalable; – provide for the direct commitment of the partners of the proposing company and/or a team equipped with adequate technical and management skills, in terms of technological and work contribution or, alternatively, provide for the consolidation of the team and these skills through research of professionalism available on the market; – be aimed at creating the prototype (Minimum Viable Product) or the first industrial application of the product or service to certify the feedback from customers and/or investors. Two lines of intervention are envisaged: – Support for the implementation of activity plans. In this case the benefits are granted in the form of a non-repayable contribution, in an amount equal to 80% of the expenses incurred and deemed eligible for the implementation of the business plans, up to a maximum limit of 10,000.00 euros per innovative startup. The contribution is recognized pursuant to "de minimis" and in compliance with the limits established by Regulation (EU) no. 1407/2013, pursuant to which the maximum aid that can be granted for each single company cannot exceed the amount of €200,000.00 over three financial years. – Investments in the risk capital of innovative startups. In response to the investment in the company's capital made by an actor in the innovation ecosystem, the same company is granted a further benefit in the form of a non-repayable contribution, equal to 100% of the investment in the company's capital. risk implemented by authorized innovation ecosystem players, within the overall limit of 30,000.00 euros per innovative startup. The contribution is recognized pursuant to "de minimis" and in compliance with the limits established by Regulation (EU) no. 1407/2013 (pursuant to which the maximum aid that can be granted in de minimis for each "single company" cannot exceed the amount of €200,000.00 over three financial years). From 8 September 2022, startups already benefiting from the benefits provided for in CHAPTER II and which have completed the permitted activity plan can submit applications to access the incentive provided for in CHAPTER III. Upon investment in risk capital by an actor in the enabled innovation ecosystem, the company may be granted a further benefit in the form of a non-repayable contribution, equal to 100% of the investment, within the overall limit of 30 thousand euros per innovative startup.
