How To Open Startups In Italy
There’s no denying it: startups in Italy are thriving. So much so that Crunchbase’s report suggested that Italy is Europe’s best-kept secret for B2B investors.
In this post we’ll take you through how to open startups in Italy, focusing on the various sources of government and EU funding available.
How can you open a startup in Italy?
There are two ways to go about it. The first one is you can open a startup as an Italian citizen. Depending on the nature of your company operations, you’ll need to comply with government rules and policies.
On the other hand, the Italian government is very welcoming of international entrepreneurs too. So, to get access to Italy’s thriving startup scene, learn more about the “Italia Startup Visa” here.
Investment in startups in Italy
According to Emil Abirascid, “(Italian startups) are proving to be developing around the work of highly capable entrepreneurs, projects of great value and effective execution.”
Investors are slowly starting to realise the value of Italian startups, and the numbers prove this theory: investments in Italian startups have quintuplicated since 2016 (source: P101 SGR Observatory Report 2020).
What kind of funding can you receive?
It comes as no surprise that I’m saying this: if you’re planning to open a startup in Italy, the time is now. But along with investment, there is a lot of other funding available. The most likely areas are:
- Private Investors
Private investors are perhaps one of the best ways to get steady capital for your business. You can approach venture capitalists, banks, lenders, angel investors, and many other institutions, who can assist you with money, after assessing your business model.
- Government Grants
Italy has always been at the forefront of providing assistance to its homegrown businesses. One way it does this is through government schemes and grant money. These grants differ from region to region, and from state to state. However, the most well-known investment that Italy has made to support its businesses is by introducing Law 181/89 on a national scale. According to this law, investment costs can be borne up to a certain percentage. You can read more about it here.
- European Grants
The European Union offers grants, aid, and loans to businesses belonging to many different sectors. There are over 450+ funding opportunities that you can access. You can read more about the types of funding available (and other terms and conditions) here.
- Other Incentives
These incentives are not funds, but they can go a long way in helping you save costs in your business. The “Zone Franche Urbane” is one such incentive that allows businesses to operate in tax-free zones. Tax credits and development contracts are other incentives that you can take advantage of.
How can we help?
Setting up a business is difficult, even with funding in place, and you will normally need an experienced adviser to help you.
So, if you are ready to get started, or if you have any doubts about opening a startup in Italy, feel free to get in touch with me, and I’ll be happy to assist. You can contact me here.
Produced by Juwaria Merchant 26/04/2022