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SIMEST Internationalization 2023: Growth Opportunities for Italian Companies

SIMEST Internationalization 2023: Growth Opportunities for Italian Companies

In summary
  • The SIMEST 2023 internationalization call (Fund 394) opens on July 27, 2023, and the funds are limited, until exhaustion.
  • Companies with legal headquarters in Italy, registered in the Companies Register, that are not in economic difficulty and that have at least two audited financial statements may apply.
  • The intervention lines cover foreign markets, trade fairs and events, e-commerce, certifications and consulting, and Temporary Export Manager.
  • The subsidies can cover up to 100% of the eligible expenses with an interest-rate-subsidized loan and a loss-offset fund of up to 10%.
  • The grant contribution has a maximum amount of 100,000 euros and the minimum amount of the subsidized intervention is 10,000 euros.
Index

July 27, 2023 will be a date of great importance for Italian companies eager to expand internationally. On that date, in fact, the counter for the call for applications will open. SIMEST 2023 for internationalization (Fund 394) Of Italian enterprises.

Requirements

To access the soft loans offered by SIMEST, companies will need to comply with some basic requirements:

  1. Have a registered office in Italy
  2. Be duly incorporated and registered with the Registry of Companies
  3. Not being in economic hardship
  4. Have filed at least two financial statements (or two tax returns) covering two complete fiscal years, unless specifically excepted

SIMEST call for internationalization 2023: eligible expenses

SIMEST offers several lines of intervention, each dedicated to supporting specific initiatives for business expansion in international markets. Let's look in detail at the main funding lines proposed:

Inclusion in Foreign Markets

This line of intervention is aimed at companies that intend to establish a stable presence in target markets for the launch and dissemination of Italian goods and/or services or for the acquisition of new markets abroad. The investment can take place through the opening of new facilities in foreign countries or the strengthening of existing facilities.

Participation in International Fairs and Events

Under this line of intervention, SIMEST encourages the participation of companies in international events, such as trade fairs, exhibitions or business missions, to promote Italian goods and/or services.

Development of E-commerce in Foreign Markets

This line of funding is dedicated to the development of e-commerce for the distribution of Italian products in foreign markets, through the creation of new platforms or the improvement of existing ones.

Certifications and Consultancy for Internationalization.

SIMEST promotes internationalization projects that include specialized consulting, feasibility studies, and obtaining certifications for products and business processes.

Temporary Export Manager

This line of intervention allows for the temporary insertion of professional figures with expertise in internationalization into the business environment.

The Facilities for Businesses

The facilities offered by SIMEST for the lines of intervention can cover up to 100% of eligible expenses. The measures consist of low-interest financing, the amount and rate of which will be defined at the application stage, and a non-repayable grant up to 10% of the amount of the subsidized intervention, up to a maximum amount of 100,000 euros. The minimum amount of the subsidized intervention is 10,000 euros.

What can Octagona do for the SIMEST call for internationalization 2023?

This announcement represents An unprecedented opportunity for Italian companies aiming for international expansion. Funds are limited and while they last. It is important to start now, not wait until the last moment, and rely on those who have known the world of business internationalization for years.

Octagona supports successful companies that, like yours, strongly want to discover new markets and derive profits from them. With more than 50 professionals which operate in more than 40 countries, we can support you in all the activities allowed by the announcement.

Decide now what to do: write an email to [email protected] Or call us at tel: 059 9770184. You will be contacted by one of our senior consultants to get to know us and set up the next steps without hesitation.

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Frequently Asked Questions

When will the SIMEST 2023 internationalization fund 394 application form be open?

The SIMEST 2023 internationalization call (Fund 394) application window opens on July 27, 2023. Funds are limited and allocated on a first-come, first-served basis, so it is advisable to prepare the project and documentation before the opening, without waiting until the last moment, to avoid missing out on available resources.

What requirements must an enterprise have to access the SIMEST subsidized financing under Fund 394?

To access the SIMEST subsidized financing, the company must have its legal headquarters in Italy and be duly established and registered in the Companies Register. It must not be in economic difficulty and must have deposited at least two balance sheets, or two income tax returns, relating to two complete fiscal years, subject to specific exceptions.

Which expenses and internationalization initiatives are funded by the SIMEST 2023 call?

The SIMEST 2023 call funds five lines of intervention: entry into foreign markets, with the opening or enhancement of structures abroad; participation in fairs, exhibitions and business missions; development of e-commerce in foreign markets; certifications and advice, including feasibility studies; and Temporary Export Managers temporarily assigned to the company.

How much does the SIMEST subsidy cover and how much is the grant contribution in the 2023 call?

SIMEST subsidies can cover up to 100% of the eligible expenses. They consist of an interest-rate-subsidized loan, with the amount and rate determined during the application process, and a grant contribution of up to 10% of the subsidized intervention, with a maximum of 100,000 euros. The minimum amount of the intervention is 10,000 euros.

The SIMEST tender funds the hiring of a Temporary Export Manager to export abroad?

Yes, the Temporary Export Manager is included among the intervention lines of the SIMEST 2023 call. It allows the company to temporarily insert experienced professionals in internationalization into its corporate context, useful for structuring and guiding the export strategy, with the same incentives provided for the other lines of Fund 394.

How can a consulting company like Octagona help participate in the SIMEST internationalization 2023 call?

Octagona assists companies in all activities eligible for the SIMEST 2023 call, thanks to more than 50 professionals operating in over 40 countries. You can request a contact by writing to [email protected] or calling 059 9770184: a Senior Consultant will set up the next steps with the company.

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