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The Italian legislation in support of innovative SMEs

The Decree-Law 3/2015, (known as “Investment Compact”), converted into Law 33/2015, has extended most of the benefits envisaged for innovative startups to a broader range of companies: “innovative SMEs”, small and medium Enterprises operating in the field of technological innovation, regardless of their date of incorporation, the economic sector in which they operate or their stage of maturity. This regulatory intervention acknowledges established principles of the contemporary economic doctrine, which unanimously ascribes to technological innovation a decisive impact on the levels of competitiveness and growth and on the processes of job creation. The aim of the legislator was thus to foster with greater effort and reach the propagation of technological innovation within the domestic productive fabric.

In an economic environment, as it is the Italian one, dominated by small and medium enterprises, the “expansive breakthrough” impressed by the “Investment Compact” represents the logical and inescapable evolution of an industrial policy – as the one carried out by the Italian Ministry of Economic Development – that, through technological development, aims at promoting sustainable growth and the diffusion of an entrepreneurial culture committed to research and innovation and open to the global flows of human and financial capital.

Innovative startups and innovative SMEs clearly represent two sequential stages of the same continuous and coherent growth process. Therefore, the Italian Government has intended to support not only the initial phase of the business but also, in view of the data collected on innovative startups during the four years of validity of the special regime (see the dedicated online, weekly-updated directory of the Business Register), to accelerate the dimensional growth and to support the consolidation of those companies characterised by high technological contents.

As described in the following paragraphs, the legislation designed in favour of innovative SMEs consists in a vast and diversified package of measures that touch every aspect of a company’s lifecycle, including the introduction of more flexible corporate management tools, the liberalisation of remuneration schemes, the facilitation of the access to credit – for example by facilitating the investment in equity, and the support in the process of internationalisation of innovative enterprises.

Source: Ministry of Economic Development

Read the complete Executive summary (PDF)

By | 2017-08-23T09:01:18+00:00 August 19th, 2017|Legal Issues|0 Comments

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