The new creative enterprise fund

The new creative enterprise fund

The Creative Enterprise fund was launched on the 5 th of July 2022 by Invitalia. The subsidised
measure aims to promote new entrepreneurship and the development of businesses in the
creative sector and to foster collaboration between businesses in the creative sector and
those in other productive sectors. The budget of the fund which was launched on the 5 th of
July amounts to 28 million euros and is dedicated to the creation, development, or
consolidation of creative businesses.
A creative business is one which operates in the creative sector whose activity, as recorded
in the business register, is identified by one of the Alteco codes listed in Annex 1 to the
decree of 19 November 2021.
The sector includes: activities aimed at the development, creation, production, diffusion,
and the preservation of goods and services that constitute cultural, artistic, or other creative
expressions and, in particular, those linked to architecture, archives, libraries, museums,
artistic craftmanship, audio-visuals, including film, TV and multimedia content, software,
videogames, tangible and intangible cultural heritage, design, festivals, music, literature,
performing arts, publishing, radio, visual arts, communication, and advertising.
Individual creative companies but also companies within integrated projects, i.e.,
collaborative projects between companies including non-creative companies, may apply,
provided that their role within the project is not predominant both in terms of the number
of participants and in relation to the expenditure programme.
Proposing companies must be classified as micro, small, or medium-sized businesses and
must carry out at least one of the economic activities listed in Annex 1 to the decree, which
contains the entire list of eligible Alteco codes (Decree of 19 November 2021.)
Individuals may also apply to develop their own business idea idea within the creative
sector, but they must commit to building a business within 60 days of eligibility.
Eligible expenses are those incurred after the submission of the grant application or, in the
case of start-ups, after the company is established. The programmes must be worth no
more than 500,000 euros net of VAT and must be implemented within 24 months from the
date the grant decision is signed.
Aid is granted to companies that have the following characteristics:
– They are unlisted
– They are either micro or small
– They have been established and registered in the business registry for no more than
5 years
– They fulfil the additional requirements of Article 22 GBER (in particular, they have
not distributed profits and they were not formed because of a merger)

The businesses that do not meet these requirements will receive subsidies under the
Minimis Regulation.
The subsidies cover up to 80 per cent of the eligible expenditure programme, of which 40%
is divided between a subsidised 0% loan and the remaining 40% as a non-repayable grant
(excluding VAT).
Eligible investment costs include:
– Installations, machinery, and equipment
– Intangible fixed assets, necessary for the activity that is the subject of the subsidised
initiative, including the purchase of patents or related user licenses (e.g., web
platforms, software)
– Masonry work, up to a limit of 10% of the total eligible programme
– Working capital expenditure, up to 50% of the total investment expenditure
considered eligible (raw materials, ordinary services, use of third-party assets,
utilities, technical expertise, cost of indefinite-term employees who have not
benefitted from any other subsidies)
The disbursement of subsidiaries is made through the presentation by the beneficiary of a
maximum of four progress reports (SAL) and there is the possibility for the beneficiary
company to request the disbursement of an advance payment not exceeding 40% of the
total amount of subsidiaries granted, subject to the presentation of a surety or guarantee
Requests for disbursement shall not be for an amount of less than 20% of the eligible costs,
except for the request for disbursement of the balance of the SAL which may be submitted
for the residual amount of the eligible investment.
In addition, beneficiary innovative start-ups or innovative SMEs, in exchange for third-party
investments in their own risk capital, may request the conversion of a portion of the
subsidised loan granted into a non-repayable contribution for an amount equal to 50% of
the sums contributed by the third-party investors and up to a maximum of 50% of the loan
On 22 September 2022, the measure also includes the launch of a new fund with a budget
of 10 million euros for Italian companies that want to make use of specialised services
provided by creative businesses.
The Creative Enterprise Fund represents an important development opportunity both for
companies that want to start a business idea in this sector and for those that want to
consolidate or expand their business, and BizPlace, as a specialised consultancy company,
aims to support these activities throughout the necessary journey to obtain the facilitation

If you would like more information about the call, please feel free to contact us.

The BizPlace team

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