Everything is ready for the launch of "Resto al Sud", the new measure managed by Invitalia, aimed at encouraging young people to start up business activities in the Southern regions of Italy.
The initiative is aimed at entrepreneurs under 35 years of age, residents in Abruzzo, Basilicata, Calabria, Campania, Molise, Puglia, Sardinia and Sicily. The procedures for granting incentives and eligibility will be announced in the implementing decree of the Minister for Territorial Cohesion and the Mezzogiorno, of forthcoming publication.
The financial allocation is 1.25 billion million euros from the Development and Cohesion Fund of the 2014-2020 Program. Following the publication of the implementation decree, applications for access to finance can be presented on the Invitalia website until all the resources allocated are used up.
Invitalia will evaluate the proposed projects within sixty days, ensuring the follow-up of the procedure and assessing the technical-economic sustainability of the proposal. The initiative provides up to 40,000 euros for each project, with a 35% non-repayable portion and the remaining 65% through a zero-interest loan to be repaid over eight years. If the proposal is submitted by one or more already established entrepreneurs, including cooperatives, the amount of funding payable is equal to 40,000 euros for each partner with a maximum limit of 200,000 euros for each project.
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