Specialization Bonus: Financial Contributions and Incentives up to 6 Million Euros

Bonus for Specialization: Financial Contributions and Incentives up to 6 Million Euros

The Ministry of Enterprises and Made in Italy, under the decree of Minister Adolfo Urso dated 14th September 2023, has introduced the Bonus for Specialization.
This initiative offers significant financial support, with contributions reaching up to 6 million euros, along with various incentives for funding aimed at businesses.

What is the Bonus for Specialization and Who is it for?

The Bonus for Specialization, governed by the Ministerial decree, targets businesses engaging in projects related to industrial research and experimental development in alignment with the National Strategy for Smart Specialization (Snsi).
Starting from 10:00 on 10th September 2024, companies can apply for this economic aid, with the possibility of submitting joint applications.

Projects eligible for this bonus must be carried out in the less developed regions of Italy, including Basilicata, Calabria, Campania, Molise, Puglia, Sardegna, and Sicily.

This bonus encompasses two main forms of assistance: financial contributions and incentives for funding.

Financial Contributions and Incentives

Small, medium, and large enterprises can apply for economic contributions for projects ranging from a minimum of 3 million euros to a maximum of 20 million euros, covering up to 30% of the expenses incurred.
The percentage of the contribution varies: 30% for small businesses, 25% for medium enterprises, and 15% for large enterprises outside the SME definition.
There is an additional 10% increment for projects conducted in Southern Italy regions and meeting specific criteria.

Regarding subsidized financing, companies can access funding with repayment terms spanning from 4 to 15 years, covering a maximum of 50% of the eligible costs.
The interest rate is set at 20% of the market reference rate, not falling below 0.8%.

For the incentivized financing, projects initiated after the submission of the application are eligible.

Funding Availability

The funds allocated for the Specialization Bonus consist of 328 million euros for subsidized financing and 145.43 million euros for direct contributions, sourced from the resources made available following the closure of operational programs from 2007-2013.

Research Areas and Eligible Expenses

The decree identifies specific research areas eligible for benefits, including advanced materials, nanotechnology, photonics, intelligent production systems, life science technologies, artificial intelligence, and digital connectivity and security.
The eligible expenses cover personnel costs, equipment depreciation, consultancy services, general project expenses, and materials necessary for project implementation.

Application Process

Businesses can start submitting applications from 10th September (initially set for 10th July).
The application form must be accompanied by a statement of willingness from the financing bank.
Preparing the application and related documentation can commence from 2nd September 2024.
An application fee of 16 euros is required, and submissions should be made through the Sustainable Growth Fund platform.