Industry, published the venture capital competition notice


Industry, published the venture capital competition notice. 10 million euros for start ups and innovative companies.

Cagliari, 19th April 2016

One of the most important instruments established by the Regional Government to attract private investors who want to bet on innovative companies located or willing to locate in Sardinia is now finally operating. It has been published, in fact, the Venture Capital Competition Notice which provides a regional fund of 10 million Euros put in the budget by the Region to acquire direct equity investments in innovative companies. This was announced by the Department of Industry, Regional Service for the development of productive activities, industrial and technological innovation.

Starting from April 27 will be opened the terms for submitting applications for the access to the interventions of the Fund that will be managed by SFIRS. It is a measure which consists in the co-investment with private investors in companies that need financial support for the study of the initial project, for  product development and initial marketing stage.

The specific aim is to increase the productive capacity of the enterprises through the implementation of a technological innovation program. The beneficiaries must have operational headquarters in Sardinia at the time of the payment of the resources in order to correctly acquire the right to participate. The competition notice will be active until exhaustion of funds or at the end of the 2014-2020 programming period.

"It is an important initiative that looks to the future, to young enterprises, which demonstrate to be innovative and with a potentially huge market," said Maria Grazia Piras, Commissioner of Industry. "In Sardinia, the percentage of Start Ups is equal to 2.6 percent, a figure higher than the national average. The Region wants to offer a concrete financial support for the growth and development of Start Ups. We know that having good ideas is not always enough – added Commissioner Piras - if you don't attract the necessary capital, starting an enterprise can be risky.

That's why we planned and realized Venture Capital fund, a flexible instrument, suitable to the times. The Fund is an integral part of the 2014-2020 Regional Development Programme: a signal of attention by the Council oriented and directed to the growing segments of society and economy, capable to offer opportunities to create competitive and, above all, sustainable enterprises. "

The direct participation acquired by private investors and by the Regional Fund may not exceed 49 percent of the recipient undertaking's share capital for a minimum amount of 150,000 Euros and a maximum of 1 million Euros. The measure will be temporary, as it will have to be abandoned after five years from the date of each acceptance. Requests to participate must be signed using only the on-line computerized procedure available at the following address :  .

On the site of the Region, in the specific section “Notices and competition, procedures and forms” of the Councillor of Industry, are published, instead, the references to the online procedure and the guide to complete the application.