Get ready! The Startup Visa is reaching Italy
When the innovation theme is brought up, one of the first things that come to mind is, naturally, the Silicon Valley, the focus of the American dream, where companies such as Facebook and Google have come to light from the shadows of future entrepreneurs’ garages and dorms.
And yet, according to Kauffman Society Data, from 1995 to 2000, 52% of Startups born in California have been founded by non Americans. During the conference Smart&Start (8th of April 2014 in Rome), it was also reminded to the public of the fact that around 60% of Silicon Valley startups that have surpassed the first stage were created by foreigners. The trend seems to keep going.
This is probably one of the reasons why many countries, like Chile, Canada and Ireland have created the ‘Startup Visa’, an initiative that would allow those foreigners that would like to invest or create an innovative enterprise to develop their project in one of these countries. This fast track Visa will simplify procedures and shorten the time necessary to obtain the documents while helping along the development of the host country, creating occupation and favouring the general economy.
Chile, in particular, seems to be very keen on this initiative. While Obama is still struggling with the rigid American immigration system, Cile has made its own many international talents. The country has already offered more than 1.000 Startup Visas and has invested Million Dollars to fund those startups that won the “country business competition”. Furthermore, the program has pushed the visibility of their startups toward investors coming from France, Greece and USA. The program lasts 6 months and is based in Santiago del Cile.
WHAT ABOUT ITALY?
A similar program in Italy should soon be applied; in fact, in a country that is famous for letting its talents go and make their way around the world, the possibility of attracting new ones could be a great opportunity.
Mattia Corbetta, Ministry for Economic Development, has discussed at length this possibility in his interview with ‘La Fonderia dei Talenty’ (The Talent’s Forge), where he recounts the Development Decree 2.0, the new government initiative to sustain innovative enterprises.
Among the arguments included there was also the Startup Visa in Italy. “In a month we’ll introduce the Italian Startup Visa, with a simplified procedure for the extra EU startupper that would like to found their enterprise in Italy”. The entirety of the project will be taken care of by the Ministry: the request will reach them through the internet, the enterprises will be classified and an expert committee will evaluate the Business Plan. The objective is to make the process last no more than 4 weeks. After 12 months, the startupper will have to demonstrate the effective creation of the company and, in that case, the Visa will be automatically renovated for other 3 years.
All the disposition concerning the Startup Visa are part of the Plan: Destination Italy, together with the tax breaks aimed to lower registration costs for innovative startups. Among the main fields promoted for the foreign innovation companies are considered: high tech, digital information, artisanal and industrial products, and services for R&D and agriculture.