We already talked about the Italian tax incentive regime called IP Box – see our previous posts here and here -. Now is time to have a look at the latest news about this important step to stimulate innovation and, overall, to incentivise foreign investment into the country.
(From our post for the Corriere della Sera, in memory of our friend Enrico Gasperini)
This blog is mainly about the digital world, innovation and startups. And when it comes to such topics, our mind goes to Enrico Gasperini, the founder of the startups incubator Digital Magics.
Enrico passed away few weeks ago. For those who did not have the privilege to know him, see here a video about his charisma.
In memory of Enrico, we would like to recall his White Paper for the startups, with which he wanted to give contribution to all innovative start-ups (and our country).
Few proposals, eight hints which could still make a world of difference in a country, like ours, with one of the highest private savings ratio.
- Tax relief for startups (for both the personal income tax – IRPEF- and corporate income tax -IRES-).
- Tax incentives for Open Innovation (purchase of products/services from innovative startups for the internal innovation of a company), with the inclusion within the definition of “innovative startups” also of digital startups operating in technologically “mature” sectors.
- Increase of crowdfunding, including the removal of the underwriting bond by banks by 5% and the provision of a single MiFID profiling form.
- Removal of regulatory limits and provision of incentives for Undertakings in Collective Investment (UCIs) for Asset Management Companies (AMCs) in direct or indirect investments in startups.
- Creation of open-ended funds to ensure the collection, through investments, of at least € 1 billion from the Asset Management Industry into startups.
- Creation of a matching fund with Cassa Depositi e Prestiti, involving Italian industrial players, institutional investors and qualified investors which co-invest with the Fund in the seed stage.
- Creation of an Italian Founders Institute for the active promotion of Made in Italy through accelerator programs, and application of incentives for the repatriation of qualified personnel from abroad.
- Harmonization of rules of engagement of the regional funds in order to ensure a national and systematic approach of funding matching, and simplified funding access.
Dear Enrico, not everything is lost. We see with great joy that there are so many people that have drawn inspiration from you. We will miss your laugh and your ability to grasp the positive in everything.
When in 1915 Albert Einstein developed the general theory of relativity, providing a unified description of gravity, the impression was that said theory applies to big objects (like stars) as well as to small objects (subatomic particles). But during the following 15 years it was discovered that in the “small world” (subatomic particles) the Einstein’s theory would no longer be valid being said world ruled by the so called “quantum mechanics”.
In our last article we were talking about cloud providers and their liability in case of copyright infringement. The understanding of the role of cloud providers in such context is an hot topic but legislators still seem to face a very hard time providing for a modernization of the current copyright laws.