What is an innovative startup?
With the decree law dated 10/18/2012 n. 179, called "growth decree" on the subject of measures aimed at promoting sustainable growth, technological development, employment and youth entrepreneurship, a new type of company was introduced: the innovative startup. This is a joint-stock company whose business activity is aimed at the development, production and marketing of innovative products or services with high technological value.
The company's innovative content is identified with the possession of at least one of the following three requirements:
- the holding of a share equal to 15% of the greater value between turnover and annual costs attributable to expenses for research and development activities;
- a total workforce of at least 1/3 of doctoral students or PhDs or still researchers or at least 2/3 of collaborating members in any capacity holding a master's degree;
- being the the depositary or the licensee of a registered patent or the owner of registered original computer programs.
It is also necessary that it has been established since less than 60 months, that its main office is in Italy or in another EU country but with at least one production site or branch in Italy.
Furthermore, from the second year of activity of the Innovative Startup, the total annual production value, as resulting from the last approved balance sheet within six months of the end of the financial year, must not exceed 5 million euro and it must not distribute profits.
The exclusive or main corporate purpose of the innovative Startup is the development, the production and the marketing of innovative products or services with high technological value; it must not have been constituted by a merger, a corporate demerger or following the transfer of a company or a business unit.
Business registration number
The innovative startup must be registered at the Business Register and precisely in the special section provided for innovative startups. Enrollment is also a prerequisite for benefiting from the subsidized regulations. In order to obtain the registration, it is necessary to indicate the requirements for qualifying the company as an innovative startup: the activities carried out, the research and development costs, the educational qualifications, the professional experience of members and staff working in the company, the relationships and collaborations with a university and research centers, ie the institutional and professional investors, the patent rights on industrial or intellectual property.
There are several advantages linked to the creation of an Innovative StartUp
First of all for a company just set up, there’s the possibility of setting it up with digital and free modalityThis is possible through the drafting of a standard model of the articles of incorporation and of the by-laws with digital signature. The establishment procedure can be implemented through an online platform of the Business Register - Special Section, created specifically by the Chamber of Commerce. The registration formalizes through the elctronic compilation of the memorandum and the statute duly signed with digital signature by each member within ten days of its compilation. Then there’s the transmission of both deeds and always, in telematic mode, a self-certification attesting the possession of the above mentioned qualifications listed by the law. The Chamber of Commerce, competent for that area, will verify the existence of these requirements.
Further advantages are inherent to the incentives of the State to the constitution, with income tax deductions equal to 30% of the investment up to a maximum of 1.8 million and with the possibility of access to the public fund, to the Guarantee Fund for small and medium enterprises. There’s a more favorable tax and contribution system based on incentive plans based on the assignment of shares, quota and similar Securities and not least but equally important there’s the subtraction of Innovative Startups from the insolvency procedures and at the same time the exclusive subjection to the discipline of crisis management from over-indebtedness normally applicable only to non-fallible subjects.
So, if you consider the convenience in setting up and managing an Innovative Startup, that’s why in Italy now there are about 10 thousand of these companie - this new business idea seems to make its way very easily.