Start-ups and incubators will be entitled to gain a guarantee from a State run fund in order to obtain loans up to € 2,500,000 as part of initiatives taken by the Italian Government to foster innovation in Italy.
The Italian Ministry of the Economic Development has approved a decree regulating the criteria and modalities to access to a so called central guarantee fund to the benefit of innovative start-ups and incubators that are enrolled in a dedicated registry. Indeed through such guarantee fund, the State will guarantee up to 80% of the value of the loan that cannot exceed € 2,5 M.
The requirements to be met in order to qualify for such guarantee are the enrolment in the above mentioned registry and no assessment of financial statements or data is required provided that the entity financing the loan does not receive any further guarantee.
This looks as a very interesting opportunity for start-ups as it will allow them to fund their investments without the need to look for private investors. Also, this opportunity will be coupled by the upcoming approval of the implementing decrees governing crowdfunding platforms which might represent another interesting solution to raise funds.
It is a very exciting time in Italy for innovative start-ups and companies investing in this sector. If you want to discuss about the current status of the market and the best approach to be taken, feel free to contact me, Giulio Coraggio (email@example.com).