Chiara Petro, Director of the Italian Trade Agency in Bulgaria, part of the Diplomatic Mission of Italy in Bulgaria, Friday presented Italy's experience in fostering emerging companies at a specialized international event for startups in Sofia.
A special office for startups and innovation has been operating in Italy since 2012, and a specialized "World Startup Programme" was established a few years ago, Petro said.
The programme offers Italian innovative startups working on cutting-edge technologies and services opportunities to develop abroad. Separately, it supports the technical and financial capacity of these companies in an organisational way so that they can succeed in penetrating new markets.
Petro also presented some figures illustrating the importance of emerging companies for the Italian economy. According to the data she provided, as of the end of the first quarter of 2023, registered innovative startups numbered 14,000. According to her report, nearly 4% of Italian companies incorporated in 2022 are categorized as startups. And this is based on specialized legislation that has existed in the country since 2012, which says which businesses are considered startups and which are not. Companies that meet the definition benefit accordingly from preferential fiscal treatment and tax breaks.
Nearly 80% of startups in Italy are engaged in the provision of business services such as software production, IT consulting, development and IT-related services. Another nearly 15% of startups are in the field of industry, and the lowest share of those are operating in the field of commerce.
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