Governments, non-profit organizations, and funds usually provide financial support for businesses that implement sustainable practices and promote responsible consumption. Companies that operate with used devices can apply for these initiatives as they extend phones' lifecycles, contributing to the circular economy.
In today's article, we have collected a list of green grants, loans, and venture investment funds that support sustainable businesses in Italy.
If you run a used device business in another country, we have more green funding articles that might be useful. Read NSYS blog posts on sustainable initiatives in the UK, Ireland, and Spain.
Green Grants in Italy
Numerous governmental initiatives in Italy support local sustainable businesses. Moreover, programs by the European Union apply to companies working in the country. Therefore, while looking for funding, remember to check options on different levels, including regional, national, and European ones.
Here are several initiatives that provide non-repayable funding for SMEs to help them become more sustainable.
Sustainable investments 4.0
This Italian program supports SMEs in Southern regions of the country in their transition towards the circular economy, energy efficiency, and digitalization. Overall, the total budget of the initiative is €400,000,000.
With this support program, you can purchase both tangible and intangible assets, including consultancy services. The funding can cover up to 75% of eligible costs and is granted through contribution and subsidized financing. Therefore, micro- and small-sized enterprises might attract financing for 50% of total expenses in the form of a contribution and for 25% of the same costs in the form of subsidized financing. For medium-sized enterprises, the percentage is different: 40% of total expenses in the form of a contribution and 35% of the same costs in the form of subsidized financing.
Nuove imprese a tasso zero
If you plan to start a business, you can get government support with the "Nuove imprese a tasso zero" program. It is aimed at both aspiring entrepreneurs and SMEs with predominantly or totally youth or female participation.
The funding takes two forms: zero-interest loans and non-repayable grants. Depending on the company's needs and the time of its existence, the amount of funding varies from €1,500,000 to €3,000,000.
Besides the financial help, the program provides expert tutoring on implementing green practices into business processes.
Digital Export Bonus
To accelerate digitalization, the Italian Ministry of Foreign Affairs and the ICE Agency, managed by Invitalia, created a non-repayable bonus. It supports SMEs by providing €4,000 for purchasing digital solutions that cost not less than €5,000. The funding can be spent on subscriptions to SaaS products, Content Management System (CMS) services, creation of e-commerce sites or mobile apps, etc.
Green Loans in Italy
If you are interested in borrowing money for the sustainable development of your business, there are multiple options available in Italy that provide low or zero interest rates. For example, such opportunities are provided by numerous banks, including Intesa Sanpaolo, UniCredit, and Cassa Depositi e Prestiti. Besides, you can look for options financed by other organizations rather than banks. We have collected several initiatives that are funded by the government:
Imprese dell’economia sociale
The Ministry of Business and Made in Italy provides multiple programs to support local businesses. One of them, Imprese dell'economia sociale, aims to strengthen social and sustainable economic development. The program finances the employment of disadvantaged groups, green business activities, reduction of waste production, reuse, and recycling.
The initiative offers funding for projects with expenses of no less than €100,000 and no more than €10,000,000. Loans are provided for less than 15 years at a subsidized rate of 0.5% per year.
Fondo per la crescita sostenibile
Fondo per la crescita sostenibile (The Fund for Sustainable Growth) supports local research, development, and innovation projects. Its decree of 11 June 2020 is aimed at projects focused on contribution to the circular economy.
Among the activities that the initiative finances, there are tools that extend the lifespan of products and make the production cycle more efficient. Thus, used device businesses can use this support to implement device-testing robots, such as Reeva from NSYS Group, into their workflow.
Fondo Rotativo Imprese
The Fondo Rotativo Imprese (FRI) supports green initiatives in the context of the Italian Green New Deal. Companies of any size can attract funding for sustainable and innovative projects such as decarbonization, circular economy, recycling, alternative energy, etc.
The initiative provides subsidized financing for 60% of the project costs, accompanied by bank financing for 20%.
Green Investment in Italy
Besides grants and loans, there is another method of attracting finances that can benefit SMEs on their sustainable journey: green investing. We have an article on ESG investing that explains how it works in detail. In a nutshell, the organization evaluates whether a company's activities comply with sustainable principles.
In Italy, there are numerous venture firms that support sustainable initiatives, such as CDP Venture Capital SGR, P101 SGR, Vertis SGR, LVenture Group, Invitalia Ventures, etc.
What Sustainable Projects Get Green Funding
To get funding, you need to provide a clear vision of your company's green journey. For used device businesses, the sustainable strategy can be focused on extending the device lifecycle and decreasing the amount of e-waste. The best solution in this case is robotic testing. Extensive and consistent results will help you maximize smartphone efficiency and prevent electronics overproduction.
Try Reeva from NSYS Group! This robot can test, grade, and wipe smartphones in less than 5 minutes. Optimize your workflow while benefiting the planet!
