WHAT THEY ARE
They are corporations, which may be set up as co-operatives, resident in Italy or in another EU Member Country provided they have a manufacturing site or a branch in Italy, that comply with certain requirements and have as their sole or main corporate aim the development, production and commercialisation of innovative products or services with a high technological value.
AIMS OF THE LEGISLATION
- to help develop a new business culture;
- to create a context that is more favourable for innovation;
- to promote greater social mobility;
- to attract talent and foreign capital to Italy.
- the company must have been set up and be operating as a business for not more than 60 months;
- the business must be resident in Italy, or in one of the European Union Member States, provided it has a manufacturing plant or branch in Italy;
- the company's total annual production value, starting from the second year in business, must not exceed 5 million Euro;
- the company must not distribute or have distributed profits;
- the company must have as its sole or main object the development, production and commercialisation of innovative products or services with a high technological value;
- the company must not have been set up as the result of a merger, demerger or following the transfer of a business or area of business.
- lower set-up costs;
- carrying forward of any losses for the year;
- governance of limited liability companies: ability to issue financial bonds;
- remuneration with financial instruments (e.g. stock options);
- simplified employment agreements, tax credits for research and development;
- investment incentives;
- widespread collection of risk capital through on-line portals;
- support for internationalisation;
- crisis management: insolvency proceedings regulations are not applicable.