Smart Money is the incentive, promoted by the Italian Ministry of Economic Development and managed by Invitalia, that aims to facilitate the meeting between innovative startups, the network of incubators and other qualified subjects, in order to strengthen the presence of young innovative companies in Italy and support the potential of those who are preparing to make their entry into the market.
How does it work
The initiative is aimed at:
- Startups established no more than 24 months ago and registered in the special section of the Italian Register of Companies;
- Individuals who intend to establish an innovative startup, with the commitment to proceed after any admission to the facilities.
Smart Money provides two forms of intervention to support innovative startups:
- Outright grants for the purchase of services provided by the network of incubators, accelerators and other qualified entities;
- Investments in the risk capital of innovative startups.
In the first case, the incentive provides for a non-repayable contribution for a maximum amount of 10,000 euros, which can cover up to 80% of eligible expenses, while in the second case there is a non-repayable contribution equal to 100% of the investment in risk capital, up to an overall limit of 30,000 euros. The incentive has a total budget of 9.5 million euros: the contributions will be assigned with a "counter procedure" (until the funds are available) and recognized under the "de minimis" Italian law.
The role of I3P
As a certified incubator, I3P is qualified to provide the services required to benefit from the incentive.
During the in-depth webinar held on June 21, 2021, the Innovative Companies Incubator of the Polytechnic University of Turin, Italy illustrated the steps to be taken to apply for the economic benefits of Smart Money, starting from the fundamentals for a new business. Among the most common questions Enrico Ghia, Senior Consultant at I3P, answered in the first part of the meeting:
- What are the processes that should be activated when an entrepreneur decides to take on the challenge of making a new venture successful?
- How do you validate the entrepreneurial proposal?
- What does it take to build a business, besides a good plan and a knowledgeable team?
- What kind of awareness must the entrepreneurial team have or acquire?
- What is I3P's role in the birth and development of a new enterprise?
Starting from these elements, the webinar focused on the activities that I3P can carry out for innovative startups - different types of consultancy, logistics and networking services - and that fall into the categories set by the Smart Money official regulations, as well as on the details of the basic economic offers, divided into three packages, and advice for preparing applications to the incentive.
The video recording of the webinar - held in Italian language only - is available below:
To receive more information or to contact I3P in order to apply for the Smart Money incentive, please write to firstname.lastname@example.org providing your contact details and the main information about your business project. The Incubator's tutors will examine the proposals and respond in the shortest time possible, in order to define together a customised and specific path for each innovative enterprise.