Start ups new italian legislation

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Information about Start ups new italian legislation
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Published on March 7, 2014

Author: IncubatoreStart-up

Source: slideshare.net

“Innovative start-ups” main content of new italian legislation March 2014 www.incubatoreimpresa.it

Executive summary • On 4th October 2012, the Italian Government approved the “Further urgent measures for Italy’s economic growth” (Law Decree n.179, 18 october 2012) • This legislation recognizes that ‘innovative start-ups’ are important for sustainable growth, technological development and employment, in all sectors, as well as attracting to Italy investments and talented people from abroad. • The Law Decree has defined specific support measures for ‘innovative start-ups’ • ‘innovative start-ups’ is linked to innovation and technology d.ssa Monica Forconi, Responsabile operativo Incubatore d'impresa, www.incubatoreimpresa.it; tel.050-754702; forconi@polotecnologico.it 2

…..definition of a ‘innovative start-up’ MAIN REQUIREMENTS (art.25 DL. 179) • The core business consists of innovative goods or services of high technological value • It must have been established for no longer than 48 months • It must reside or be subject to taxation in italy • It has no turnover or has a turnover that does not exceed 5 million € • It does not distribute profits in the first 4 years of its life • It does not generate from a merger, demerger or divestment process d.ssa Monica Forconi, Responsabile operativo Incubatore d'impresa, www.incubatoreimpresa.it; tel.050-754702; forconi@polotecnologico.it 3

…..definition of a ‘innovative start-up’ OTHER REQUIREMENTS (art.25 DL. 179) • START UP CAN BE QUALIFIED ‘INNOVATIVE’ IF HAS 1 OF THE FOLLOWING REQUIREMENTS a) 15% of its costs are related to R&D b) At least 1/3 of the team is made up of people who either hold a PhD or are PhD candidates at an Italian or foreign university or have conducted researches for at least three yars, or at least 2/3 of the team is made up of people holding a Master’s degree c) It is owner or the licensee of a patent or a registered software d.ssa Monica Forconi, Responsabile operativo Incubatore d'impresa, www.incubatoreimpresa.it; tel.050-754702; forconi@polotecnologico.it 4

Main support measures (1) No registration fees (art.26 DL. 179) • ‘innovative start-ups’ do not pay anything for their own creation and registration at the Chambers of Commerce Labour law for ‘innovative start-ups’ (art.28 DL. 179) • ‘innovative start-ups’ can hire personnel through contracts wich last at least 6 months and no longer than 36 months. After 36 months, start-ups can renew the contract for no longer than 12 months. Within this time frame, the contract can be renewed more than once. d.ssa Monica Forconi, Responsabile operativo Incubatore d'impresa, www.incubatoreimpresa.it; tel.050-754702; forconi@polotecnologico.it 5

Main support measures (2) Credit deriving from tax return (art.27 bis DL. 179) •priority access is granted to facilitations for the employment of highly qualified personnel in innovative start-ups •The credit is the 35% of labour cost (maximum credit amount: 200.000 €) Stock options for the team (art.27art.27 bis DL. 179) •‘innovative start-ups’ can remunerate their team members with stock options d.ssa Monica Forconi, Responsabile operativo Incubatore d'impresa, www.incubatoreimpresa.it; tel.050-754702; forconi@polotecnologico.it 6

Main support measures (3) Work for equity (art.27 DL. 179) • ‘innovative start-ups’ can remunerate the providers of external services (eg: lawyers, accountants, etc..) with work for equity Tax incentives for corporate and private investments in ‘innovative start-ups’ (art.29 DL. 179) • For direct and indirect investments in ‘innovative start-ups’ • Tax incentive for years 2013, 2014, 2015, 2016 d.ssa Monica Forconi, Responsabile operativo Incubatore d'impresa, www.incubatoreimpresa.it; tel.050-754702; forconi@polotecnologico.it 7

Main support measures (4) Crowdfunding (art.30 DL. 179) • CONSOB, the equivalent of American SEC, has publish a specific Regulation of equity-based crowdfunding. ‘StarsUp’ is the #1 Italian portal authorized by Consob for the on-line collection of risk capital by innovative start-ups Access to Fondo Centrale di Garanzia (art. 30 DL. 179) • Procedures semplified and free-of-charge access for ‘innovative start-ups’ to the Government Fund that supports access to credit through guarantees on bank loan d.ssa Monica Forconi, Responsabile operativo Incubatore d'impresa, www.incubatoreimpresa.it; tel.050-754702; forconi@polotecnologico.it 8

Main support measures (5) Support to the internationalisation process (art.30 DL. 179) •By ‘ICE’, the Italian Trade Promotion Agency. •Support mesures include free-for.charge participation to international fairs and event, and assistance in the legal, corporate and fiscal activities, etc. d.ssa Monica Forconi, Responsabile operativo Incubatore d'impresa, www.incubatoreimpresa.it; tel.050-754702; forconi@polotecnologico.it 9

law reference • http://www.sviluppoeconomico.gov.it d.ssa Monica Forconi, Responsabile operativo Incubatore d'impresa, www.incubatoreimpresa.it; tel.050-754702; forconi@polotecnologico.it 10

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