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LAW CORNER

European Union - The Commission Communication "Industrial policy in an enlarged Europe" [COM(2002) 714] underlines the importance of innovation as the keystone of European industrial policy.

In more detailed terms the Communication “Innovation Policy: updating the European Union approach in the context of the Lisbon strategy” [COM(2003) 112] of 11.3.2003 focuses on company innovation and on those innovation forms based on organisational change and technology diffusion.

Italy - The decree of the Ministry of Production Activities was published in the Official Journal of 26 November 2003. It launched a call for accessing financial support from the Technology Innovation Fund - Fondo per l’innovazione tecnologica - (FIT) dedicated to promoting and diffusing innovation based on information and communication technologies (ICT) in Small and Medium-Sized Enterprises (SMEs). The call was launched to implement the 21 October 2003 decree of the Ministry for Production Activities and of the Ministry for Technology and Innovation that assigned € 62.8 million to innovation development in SMEs and selected appropriate procedures in thematic calls according to Art. 11 of the directive 16 January 2001 concerning the concession of facilities from the technology innovation fund established by the law of 17 February 1982 n. 46.

Incentives to companies that invest in technology innovation and research: to promote the investment of companies in research and innovation, fiscal measures will be made available by the so-called ‘tecno-tremonti’ decree Ten percent of incurred costs for researchers’ salaries, research and innovation activities will be deductible. To this amount it is possible to add 30% of the rise in research investment with respect to the average of the three previous tax periods (Initiative of the Economics and Finance Ministry).

Venture Capital Initiatives and re-orientation of the proposals called for in law n. 488 of 1992 are foreseen in the Digital Innovation Plan (Piano per l’innovazione digitale) launched by the Ministry for Production Activities and the Ministry for Technology and Innovation. The Venture Capital Initiative foresees financial advances to be used in temporary and minority acquisitions of the capital of new enterprises, in particular those of small dimension and operational in high technology sectors (law n. 388 of 2000). The re-orientation of the calls anticipated by law n. 488 of 1992 intends to reward investments in ICT within the context of contributions to capital accounts requested by companies.