Even if Italy did not formulate an explicit sectoral industrial policy, a set of novel incentive schemes and mechanism has been recently defined and launched in order to support innovative investments by the manufacturing sector, and which positively affects the chemical sector, a science-based Industry.
Backing sustainability and market-led innovation
The Ministry of Economic Development’s Fund for Sustainable Growth is still available and ongoing with regard to the support of projects promoting green chemistry which includes and encompasses sustainable growth, circular economy and bioeconomy.
The horizontal measure promoting energy efficiency within the Industry has been renewed, addressing the energy performance of the manufacturing sector through the direct involvement of electricity distributors which, being the obliged subjects within the so-called scheme “White Certificate”, must partner with companies to define, present and implement investments aiming to obtain significant targets of energy savings with respect to the previously monitored baseline.
Strengthening partnership with Education and Public Research system
Universities offer a large pool of excellent chemists in specific areas and actions are on track to build strong and scientific skills on formulation chemistry. Dual education has been reinforced in upper secondary schools, especially in technical institutes.
Encouraging R&D and the new technical wave
Fiscal incentives apply to intellectual property assets. Significant resources have been channelled to support the digital transformation and implementation of Industry 4.0, which strongly impacts also process industries and not only discrete manufacturing.
Chemical companies in Italy nowadays are able to exploit fiscal tax-breaks both for R&D investments and activities, and for training their employees, aiming to at a multidisciplinary workforce.
During 2019 a new instrument was launched: the Voucher for Innovation Manager. The Voucher aims to create an easy access and entry points for professionals (whose cost will be partly funded by MiSE), allowing the manufacturing industries to implement innovative investments.
Italy is recognized as one of the most interesting country in EU as it offers fiscal incentives to companies investing in innovation.
Finally, tax-breaks have been launched during 2019 aiming to increase risk capital and investments in innovative start-ups by private investors and Companies too.