THE POWERPOINT PRESENTATIONFINTECH IN MILAN
A fast-growing and competitive ecosystem

Contents
1. Doing business in Italy: an attractive country
1. Fintech in Italy: sectorial overview
1. Lombardy: the Italian Fintech Hub

1. Milan: a vibrant cluster for innovation
1. Fintech District: the ideal location for setting up innovative startups
1. *e.i. Klarna*: a case study
1. Our support: incentives and fiscal benefits

2Doing business in Italy

R&D PRODUCTIVITY

A.T. Kearney FDI Confidence Index
2019

An Attractive
Country⮚

Another two-spot jump this year to 8th⮚Highest ranking since 2002

4

R&D PRODUCTIVITY

R&D and technology
Polytechnic, Milan

University of Triento, Trento

Made in Italy 4.0
Polytechnic, Milan

University of Trieste, Trieste
University of Padua, Padua
SMACT
University, Padua

Polytechnic, Turin

Italian universities are improving theirpositions in the World University
Ranking: 4 more than last year!

Manufacturing 4.0
Polytechnic, Turin

University of Bologna, Bologna
BI-REX
University, Bologna

Start 4.0
CNR, Genoa
University of Pisa, Pisa

University of L’Aquila, L’Aquila

ARTES 4.0
SS Sant’Anna, Pisa
Cyber 4.0
La Sapienza University, Rome

Polytechnic, Bari

La Sapienza University, Rome
University Federico II, Naples
Industry 4.0
Federico II University, Naples..and many more

University of Calabria, Cosenza

Main technical Universities
Competence Centers Industry 4.0

University of Catania, Catania

5
Source: QS World University Rankings

R&D PRODUCTIVITY

Labour cost•

Italy has recently implemented a substantial reform of the labor market aimed at creating a modern, flexible, and competitive environment

EU Top economies salary, 2018

Annual salary in North and South Italy, 2019

50.0
45.0
40.0

South
Average €North
Average €20,661

23,077Administrative
Employee

24,43827,740Engineer

31,04333,481

Manager

55,32660,064Career(3-5 years)
Blue collar
worker

35.0
30.0
25.0
20.0
15.0
10.0
5.0
0.0

•

Among the top 2 most competitive countries for salary level6
Sources: 1. Eurostat 2019 ; 2. ITA’s elaboration on Compensation Kit Database, 2019.

R&D PRODUCTIVITY

A highly Productive Country
2018 Average annual hours actually worked (hours per2018 Patent productivity in top 5 European Countries (% value)

worker)83.5%

1,786 1,782
1,723 1,708 1,701

78.3%

1,680
1,561 1,555 1,538

1,520

77.8%
73.2%

1,474

1,433

1,392

66.7%
1,363

54.3%

US IE

IT CA ES JP CH FI GB FR SE NL DK DE

FRIT

Source: Elaboration of The European House – Ambrosetti on European Patent Office database, 2019.

DE

EU
AverageGB

ES

7

Fintech in Italy

COUNTRY OVERVIEW

A fast-growing business
Fintech in Italy started wide spreading in 2016. Due to this comparative delay, in 2019 the country ranked 7th in Europe for transactions value ($ 38bln). In the past four years, however, the sector registered remarkable results, with an expected CAGR in transactions of around 12% between
2016 and 2022.

% of Fintech users among thedigitally active population (EY, 2019)
In 2019, more than half of the
Italian digitally active population
relied on Fintech services (China
87%, USA 46%).

71%
64%

64%
56%

51%

42%
35%

2017 and 2018 data show a thriving
attention on Fintech by the Italianbusiness
environmentandconsumers.

Since 2017, new regulations and theallocation of funds to further stimulate
the sector development have been
introduced. As a consequence, Italy now
boasts a more mature and sophisticatedmarket with several cases of local
excellence.
While still expanding, the Italian Fintechfeatures the presence of top companies
and startups (i.e. Nexi, Satispay, Prima,etc), ranking 5th in Europe in terms ofcompanies’ value.
In 2018 Italian fintech companies raised €198,65 mln (x4 vs 2017).

9
Sources: CB Insights , 2019; Piccole FinTech crescono con «intelligenza» (Osservatorio FinTech Italia 2019, second edition), PWC; Italia Fintech; Invyo insights, 2019; Consumer FinTech adoption across 27 markets, EY, 2019

COUNTRY OVERVIEW

Regulations and Institutional support
Since 2017, Italian institutions and banks rapidly started to examine and support the Fintech sector development

In 2018 Bank of Italy introduced“Target Instant Payment
Settlements”(TIPS), enablingalmost immediate transfers andfurther boosting new payment
systems

Italian Government:
Survey of Fintech technologies
impact on finance, insurance andcredit sectors (2017), Ministry of
Finance’s roundtables on Fintech(2017, 2018)

Invitalia and CDP:
venture funds (Invitalia
Ventures SGR, Fondo di
Investimento Italiano etc), allocationof fiscal incentives and benefits forstart up and R&D companies

Banks:
regulations and guidelines (Bank of
Italy), clusters (SellaLab by Banca
Sella), Le Village (Credit Agricole),
Transformation & Innovation
advisory board (UniCredit), etc

Industry Associations, Business
Angels, and think-thanks:
Italia Fintech, AssoFintech, AIFI,ABI, Consob, etc

10Sources: PwC, Global Fintech Report 2017; PwC, Osservatorio FinTech Italia, 2019.

COUNTRY OVERVIEW

Venture Capital support
Recent regulations
New norms regulating the functioning of the Venture Capital Support Fund have been introduced by 2019 Budget Law and
the Ministry of Economic Development.
VC Funds must invest exclusively in SMEs meeting the following requirements:✔< € 43 mln revenues, < 250 employees (in accordance with the Regulation 2003/361/EC)✔Innovative startups with potential for further development✔Not listed✔Eligible for seed financing, start-up financing, early-stage financing or expansion/scale up financing
Allocation of € 30 mln for each year in 2019, 2020 e 2021 year and € 5 mln for each year from 2022 to 2025.
Furthermore, the Government established to invest at least 15% of its revenues deriving from Ministry of Finance-invested
companies’ dividends in the Venture Capital Fund.
Finally, through the Ministry of Economic Development, the State is allowed to invest in VC funds and funds investing in VC
to promote and boost investments among professional investors.
Social security funds can earmark up to 10% of their assets (previously max. 5%) to the so called “qualified investments”.
Source: Ministry of Economic Development, D.M. 27/06/2019 (G.U. 29/07/2019, n. 176

11

COUNTRY OVERVIEWBusiness Angels
2019 Budget Law additionally intervened to support anddefine the role of the so called “Business Angels” byintroducing a legal definition of their role and fostering theirinvestments in innovative startups through fiscal benefits:⮚ Art.1 of the Consolidated Law on Finance defines
business angels as “investors supporting innovation
who have directly or indirectly invested at least€40.000 in the past three years”⮚ Natural persons: tax deductibility for investments ininnovative startups was raised from 30% to 40% (up to a
maximum investment of € 1 mln)
⮚ Legal entities: 40% tax deduction on the company
revenue (IRES) up to a maximum €1.8 mln investment.
Deductibility raises to 50% if the entire share capital of
the innovative startup is acquired.
12
Source: Il Sole 24 Ore

COUNTRY OVERVIEW

Fintech in Italy today 1/3+ 54%⮚ 300 startups in 2019⮚ € 266 mln revenues in 2017: +21% (2016 vs 2015),+30% (2017 vs 2016)⮚ Between 2017 and 2020, Fintech investments within
the Italian financial system reached € 624 mln, € 233
mln of which in the 2017-2018 biennium and € 391 mln
in 2019

year-on-year
growthsince 2018

11 mln Italians (1 out of 4) between 15 and 64 years old
relied on at least one Fintech service or platform in 2018
and are reportedly satisfied with it.

+ 58,5k

Most praised services: payment and money transfers,
personal budget management, insurances (particularly
regarding claims digitalisation and micro policies)⮚ In 2017, 41% of the Italian banks already cooperated
with Fintech companies, 84% was determined to soby 2022
Between 58,500
and 73,300 jobs tobe created over the
next 4 years

13
Sources: Piccole FinTech crescono con «intelligenza» (Osservatorio FinTech Italia 2019, second edition), PWC; Excelsior, 2019; Banca d’Italia, 2019.

COUNTRY OVERVIEW

Fintech in Italy today 2/3
What Fintech companies
do in Italy⮚ Key segments:- Payment (56% of revenues)- Capital Market & Trading- Insurtech and Wealth & Asset Management⮚ AI & BigData are the most performing technologies in termsof innovation and revenues (average annual growth >20%)
although they represent only 25% of the companies⮚ Blockchain investments have reached € 30 mln in 2019(+100% vs. previous year)

14
Sources: Piccole FinTech crescono con «intelligenza» (Osservatorio FinTech Italia 2019, second edition), PWC; Excelsior, 2019; Osservatorio FinTech, Blockchain & Distributed Ledger: unlocking the potential of the Internet of Value, 2020

COUNTRY OVERVIEW

Fintech in Italy today 3/3
ComoNExT,c

Village,c⮚ Innovation hubs: Fintech District, Le
Fintech CherryChain, Luiss Enlabs, SellaLab

University of Pavia
Fintech District Pavia
Fintech CherryChain
Milan
TrentoSellaLab
University of Trento
Banca Sella, Biella
Trentoc

Bologna Business School
Bologna
ComoNExT
Polytechnic of Como
Milan,
Bocconi University,
Cattolica University
Milan

c

⮚ Master courses on Fintech: Data Science and Scientific Computing(University of Trieste), Master in Digital Innovation & Fintech (Catholic
University of Milan), Fintech Academy (Polytechnic University of Milan
Graduate School of Business), International Master in Fintech, Financeand Digital Innovation (Polytechnic University of Milan), Blockchain
Master Class (University of Milan), Master Programme in International
Business and Entrepreneurship – MIBE (University of Pavia), Banking
and Finance (Sapienza University)c⮚ Highly qualified HR and R&D centres on Fintech: Polytechnic
University of Milan, Trento University, Pavia University, Bologna
Business School, ModeFinance Trieste (first official Fintech Rating
Agency in Europe, born as University spin-off), CeTIF (Catholic
University of Milan)

University of Trieste
TriesteLUISS Enlabs
Rome
La Sapienza University
Rome

Main specialised Universities
Fintech clusters

15
Sources: Osservatorio FinTech, Politecnico di Milano, 2018; Piccole FinTech crescono con «intelligenza» (Osservatorio FinTech Italia 2019, second edition), PWC; Banca d’Italia, 2019.

COUNTRY OVERVIEWPost Covid-19 scenario
Covid-19 outbreak severely affected Italy and its economy.
While the pandemic forced many businesses to interrupt their activities andlockdown measures were implemented to contain the contagion, a remarkablepush to digitalisation has been made necessary and the population
positively responded to it.
From avoiding the use of cash to offices shutdown, it is possible to foresee anincreasing use of digital services, particularly concerning credit andpayments. This would also be consistent with the Government’s plan of further
limiting the use of cash (currently € 1.000 per transaction) and cutting digitaltransaction costs.
⮚ Increasing demand for digital factoring services⮚ € 100 mln additional incentives for innovative startups allocated by theGovernment (art. 38 Decree Law 34/2020)⮚ Completely digitalised application process to access Government
incentives and subsidies to support SMEs and unemployed people, credit
access and financial guarantees⮚ Cashless and contactless policies in supermarkets and shops
Sources: Sole 24 Ore; PwC; Decree Law n.34/2020

16

THE ITALIAN FINTECH HUB

Lombardy: the Italian Fintech Hub
Lombardy’s key figures:⮚ GDP: € 368 bln, around 22% of Italy’s GDP. Per capita GDP: €36.600 (2016), above the Italian (€ 27,700) and European (€29.200) average

Lombardy boasted 47%
of Italy’s Fintech
companies in 2019

With 120 companies
registered, Milan hosts
40% of Lombady’s Fintech
startups⮚ 3rd most populated region in Europe (10 mln people)⮚ Home to 815.956 registered companies (16% of Italy’s total)⮚ Leading region in the financial sector: 19,9% of the Italian added
value in finance Milan Stock Exchange⮚ 68,000 employed in the advanced manufacturing sector (5thregion in Europe)⮚ 18% of Italy’s fablab and 26% of certified incubators. 9 R&D
clusters which include private companies, universities, research
centres, and other public or private local stakeholders⮚ Excellent infrastructure system and logistic development⮚ 68,5% employment rate in 2019 (Italy: 58,8%)⮚ Thriving entrepreneurial fabric and human capital

Main Airports

Strategic
position

Milano Malpensa, Milano
Linate, Bergamo Orio al
Serio
1 to 2 ½ hours flying
time to Rome, Berlin,
Paris, London,
Barcelona, Geneve,
Stockholm, Bruxelles

17
Sources: Assolombarda; Unioncamere Lombardia; istat; Piccole FinTech crescono con «intelligenza» (Osservatorio FinTech Italia 2019, second edition), PWC

THE CLUSTER

Milan: a vibrant cluster for innovation
Composition of Fintech Revenues for Value Chain
Sectors, Milano&Partners, 2019

⮚ Sectorial know-how: thriving startup ecosystem (over 2,000 companies),
home to 10,000 financial companies employing 47,000 people. Italian
Stock Exchange (16th stock exchange in the World for capitalisation)⮚ €49,198 GDP per capita, (+30% vs. EU average)⮚ Innovation leading city: first major city in the world to launch 5G
technology⮚ Top universities and human capital: over 10 recognized academic
institutions, 200,000 university students, top business and polytechnic
universities

18
Source: Piccole FinTech crescono con «intelligenza» (Osservatorio FinTech Italia 2019, second edition), PWC; Milano&Partners, 2019

THE CLUSTER

Milan’s Fintech Cluster
Fostering your network

Major local players⮚ € 93 mln have been
invested in partnershipagreements with andbetween Fintech
companies, around 14% of
the total

Foreign companies

An open ecosystem⮚ Over 60 coworking
facilities: Copernico,
WeWork, Talent Garden,
Impact Hub…

19
Sources: Piccole FinTech crescono con «intelligenza» (Osservatorio FinTech Italia 2019, second edition), PWC; Banca d’Italia, 2019

THE CLUSTER

Fintech District: an international community
Created in 2017, Fintech District is an international
community of startups acting as the gateway to the Italian
fintech community.

Located inside the Copernico building, it actually comprises awider network of companies, startups and partners, aiming
at fostering knowledge, mentorship, and interactions
between professionals operating in the Fintech sector

Powered and supported by✔ 151 companies✔19k network connections✔14 corporate partners✔90 hours of training

SELLALAB is the innovation hub
and business accelerator foundedby Banca Sella that supports
young talents and companies inthe digital transformation process
Sources: https://www.fintechdistrict.com

Elite is a global community that spans
33 countries, with a clear vision to give
start-ups access to capital, skills andnetworks needed to scale up and makea lasting economic impact.
20

THE CLUSTER

Milano Fintech District❑ Unique opportunity for innovative companies operating in the

fintech industry❑ 151 already established companies❑ Mission: creating an international bridge for national
startups and to be a soft-landing platform to attract new
entrants from abroad❑ Area:▪ based at Copernico Isola, the dynamic business hub
located in the hearth of Milan’s new financial district
between Piazza Gae Aulenti and the Central Railway
Station▪ Spaces are currently sold out but an expansion is being

examined. Companies can join the Fintech District
without being physically located inside it.

2
1THE CLUSTER

Milan: a young and modern capital
Milan boasts a young and highly educated population avibrant entrepreneurial fabric, world class culturalamenities, and a robust public transportation system✔€49,198 GDP per capita (+30% vs EU average)✔Average age: 35 years (Italy’s average 38)✔Growing number of permanent residents✔Ranked “Highest Quality of Life” city in Italy twice✔Renowned young professionals and multicultural city,
home to numerous multinational companies

Milan’s permanent residents✔International events (Milan Fashion Week, Design
Week, Expo 2015, etc)
✔3,000 flights to 185 destinations per week

22
Source: ISTAT; Endeavor, Mapping Milan Fintech

THE CLUSTER

Academic and Institutional Environment✔11 universities (174,000 new students every year, 10%of the entire number of university students in Italy)✔40,000 graduates each year, the largest number in Italy✔Highly business-friendly local government, several
incentives managed by the Region and the local
institutions✔Bocconi University: ranked second in the EU for financeand management✔Ranked 1st in Italy for fastness in establishing a new
business (5 days vs 9.2 EU average)✔Politecnico di Milano: 3rd technology and engineering
university in the EU

23
Source: ISTAT; Comune di Milano; Milano&Partners; World Bank

THE CLUSTER

Location and Wages cost
Rental prices of prime office properties

Average Gross Annual Income(€/sqm per year, 2019)

Professional
Role

Minimum

Maximum

Programmer€ 25,403€ 34,545

Financial Analyst€ 25,519€ 44,321

Cyber Engineer€ 29,679€ 40,569

MarketingSpecialist€ 25,519€ 34,103

Source: Milano Observatory, 2017; Statista, 201924

CASE STUDY

Company founded in 2005 in Stockholm (Sweden) with the aim of facilitating e-commerce, online shopping and online payments.
The impressive progresses in technology and digitalization have not changed the mission of Klarna: making payments as simple,
safe and smooth as possible.
Klarna is now one of the largest European banks providing payment solutions for 85 million consumers across 200,000 merchants in
17 countries. Klarna offers direct payments, pay after delivery options and instalment plans.
Klarna is a part of The Klarna Group.
●
●
●
●
●

Total end-customers: 85 000 000
Total number of merchants: 200 000
Number of transactions per day: 1 000 000
Number of employees: 3 000
E-commerce Market Share Northern Europe: 10 %Klarna in Italy
After the acquisition of the Italian startup Moneymour, now part of Klarna srl, the company increased its presence in the city of Milan
focusing on commercial expansion and R&D.
This type of innovative project taking place in the most dynamic reality of the italian economy increases the importance of hiringhigh skilled workers and young proactive professionals.
25

ECOSYSTEM

Foreign Fintech companies in Milan
Founded in London in 2015, Revolut offers banking services in the UK and EU, stock
trading, crypto currency and peer-to-peer payments. It opened a branch in Milan in 2019as its Southern Europe hub.

Founded in March 2011 in London, Moneyfarm is now one of the largest digital wealthmanagement companies in Europe. Milan’s branch was inaugurated in 2015.

The German neobank, founded in 2013 and headquartered in Berlin recently opened aliason office in Milan (check)26
Sources: Registro imprese and pressIncentives and fiscal benefitsINCENTIVES

Large investments – Development contract
Development contract is the main incentive managed by Invitalia. It consists of incentives for one or more connected
and functional investment projects (including R&D) of at least € 20 MLN over 3 years, presented by one or morecompanies also in joint form, in a wide range of sectors including IT and TLC services.
Projects presented by foreign companies providing a strategic investment of at least € 50 MLN can access to Fast
Track procedure:▪ possibility to jump the queue▪ ad hoc resources▪ time shortening procedures
The development contract includes various forms of financial subsidies:▪ non-repayable grant;▪ soft loan (max 3+10 years with subsidized interest rate);▪ subsidies for interest repayment on loan.

28

INCENTIVES

Large investments – Development contract

ICT services

LARGE

MEDIUM

SMALL

Southern Regions:Campania, Apulia,
Basilicata, Calabria,
Sicily and Sardinia

25%

35%

45%

Central-Northern
Regions:
only listed cities

10%

20%

30%

Rest of Italy

No eligibility

10%

20%

All the Italian
territory

50% industrial research
25% exp. development

H

R&D

80%

The effective mix of the funds granted can’t exceed 75% of the total eligible expenses.

29

INCENTIVESStartups and SMEs – Smart & Start Italy
What
The aid supports the creation andgrowth of innovative startups all overItaly.

Projects must include expenses andeligible costs between € 100K and €1.5 MIL.
Projects must have a duration notexceeding 24 months, starting after
the contract signing.
The valuation procedure lasts only 60
days.

Who
Smart&Start Italy funds the creationand growth of innovative startupsthat:▪ have a strong technologicaldimension;▪ operate in the digital economy;▪ enhance search results (spin-offs
from research).

SubsidiesInterest-free loan up to 80% of thetotal investment. The percentage offunding may rise to 90% if the startup
is composed exclusively by women or
young people under the age of 36, or if
it includes at least one Italian PhD who
is working abroad and intends toreturn to Italy.

Small-sized startups established forno more than 60 months orindividuals willing to set up a newcompany (within 30 days fromadmission)

Startups based in Abruzzo, Basilicata,
Calabria, Campania, Molise, Puglia,
Sardinia and Sicily, will repay only
the 70% of the loan amount.

Non-Italian Startups must demonstrate
the registration in the special sectionof the Business Register andavailability of an Italian operating
office.

The loan-repayment duration is 10
years.

Startups established by no more than
12 months can use a free of charge
technical-management tutoring service
by Invitalia.
30

INCENTIVESStartups and SMEs – Smart & Start Italy
Eligible expenses *Investment costs:▪ system, machinery and technological or scientific technical equipment (factory-fresh);▪ hardware and software;▪ patents, licenses and trademarks;▪ certifications, know-how, unpatented technical knowledge;▪ design, development, customization and testing of computer architectural solutions and of production
technological systems, specialist technological consultancy if functional to the project, investments in marketing
and web marketing.
Running costs:▪ employees and collaborators wages;▪ licenses and rights for industrial property;▪ software licenses;▪ incubation and acceleration services;▪ lease payments, rental costs and amortization fees of systems, machineries and technological equipment notalready financed as above;▪ interest on external financing.
* Expenses are eligible only if incurred after the date of the proposal submission

31

FISCAL BENEFITS

R&D and Innovation tax credit
ELIGIBILITY▪ Companies of all sizes investing in research anddevelopment,
ecologicaltransition,technologicalinnovation 4.0 and in other innovative activities

ELIGIBLE EXPENSES▪ Personnel;▪ Depreciation charges, financial or simple lease
payments and other expenses relating to tangible assets
and software used in R&D projects (up to 30% of theexpenses related to personnel);▪ Research contracts;▪ Depreciation charges relating to the purchase from third
parties, also under license of use, of industrial property
rights relating to an industrial or biotechnologicalinvention, up to a maximum of € 1 MLN;
▪ Consultancy (up to 20% of the expenses related to thepersonnel);▪ Materials for R&D projects (up to 30% of the expenses
related to personnel or research contracts)

INCENTIVESEligible activities

Investments (€) ** Tax credit (%) *Industrial research andexperimental
development≤ € 3 MLN

12%Technological innovation≤ € 1.5 MLN

6%Technological innovation“Industry 4.0”

≤ € 1.5 MLN

10%≤ € 1.5 MLN

6%Aesthetic conception(conception and realization of new
products and samples within the
textile and fashion, footwear,
eyewear, goldsmith, furniture andfurnishing and ceramic sectors)** net of other grants or contributions for any reason received for the same eligible expenses* Compensation

3 years

32

FISCAL BENEFITSPatent box and equity growth
PATENT BOX▪ The patent box benefit consists in a partial tax
deduction of 50% for incomes arising from direct use or
licensing of qualified intangible assets:✔property rights;✔industrial patents;✔Trademarks;✔designs and models, as well as processes, formulas
and information relating to experiences acquired inlegally protected industrial, commercial or scientificfields▪ Fiscal deductibility on IRPEF (personal income tax) or
IRES (tax on company revenues)▪ Legal entities with a business income must be able todemonstrate that their income is from the use ofintangible assets

ACE – Help for Economic Growth▪ The incentive aims at encouraging the capitalization ofcompanies through the possibility of deducting from thenet income, up to the amount of the same, an amount(notional yield) determined as an increase in equity.
▪ The applied tax rate on company revenue (IRES) only forthis specific amount is 1.3%.
▪ To calculate the ACE incentive, the positive and negative
elements of the capital increase must be algebraically
added▪ The result obtained must be compared with theshareholders' equity resulting from the financial
statements for the year including the profit or loss. The
tax base is equal to the lower of the two amounts.

▪ Access to the benefit is automatic in the preparation offinancial statements and for a 3-years time period,
providing adequate documentation
33

FISCAL BENEFITS

Investments in innovative startups/SMEs
ELIGIBILITY▪ Legal or natural persons investing directly or indirectly
in one or more innovative startups or SMEs
▪ Mature companies invest in the acquisition of the entire
share capital of innovative startups, only if the acquisition
is maintained for at least 3 years **▪ The benefit applies to contributions in cash in thecompany share capital and in the reserves of innovative
startups and SMEs or of companies investing mainly inthe capital of innovative startups or SMEs

INCENTIVES
Fiscal subject

FiscalInvestments (€)
deductibility (%)

Natural persons≤ € 1 MLN

30% *Legal persons≤ € 1.8 MLN

30% *Mature companies **≤ € 15 MLN

50%* A 40% fiscal deductibility is waiting for approval by the EU commission** Pending approval from EU Commission

WHAT▪ Fiscal deductibility on IRPEF (personal income tax) or
IRES (tax on company revenues)
34

Our support to your investment

OUR SERVICES

Services and support▪ Invest in Italy, the brandunder which ITA andInvitalia work together, is a
One Stop Shop offering awide range of free of charge
services.
▪ Invest in Italy coordinates
Regional Authorities
which can also support
foreign investors with local
services such as:✔Subsidized industrial
areas scouting;✔administrative andbureaucracy issues;✔connections andpartnerships with local
stakeholders.
36

OUR SERVICES

Our
Portfolio

Technological and manufacturing
projects
Real estate portfolio
PRODUCTS
Infrastructure and logistic opportunities

Capital seeking projects and companies

Analysis of the incentives
SERVICES

Analysis of sectoral competitive
advantages
Support services

3
7

OUR SERVICES

Our FDI
Department

Stockholm
LondonTorontoSan Francisco

Paris
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ViennaIstanbul

New York

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and Units

Ministry
Committee for
the Attractionof Foreign
Investments

ForeignInvestments
Attraction
Department

Doha

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3
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THANK YOU