The State General Accounting Office has stamped the Annual Market and Competition Bill (‘DDL Concorrenza’), approved on 26 July 2024 by the Council of Ministers. The measure, which can now be supplemented and completed during the parliamentary examination and then with the 2025 Budget, contains some interventions in favour of innovative start-ups.
In particular, changes are introduced to the very definition of ‘innovative startup’ with reference to micro and SMEs. Innovative start-ups will also have to have a share capital of at least 20,000 euros and employ at least one employee. There are also clarifications to the definition of ‘certified incubator’ and a tax credit is established for the sums invested by certified incubators directly and indirectly in the share capital of innovative start-ups. Finally, provisions are introduced to foster institutional and private investment in innovative start-ups. Further measures on investment modalities are foreseen.
In order to mak the Italian Startup Act (the legislation on emerging start-ups) more effective, a working group has been set up in recent months at the Ministry of Enterprise and Made in Italy to review, update and rationalise the legislation.