Two funds are being utilized for the resources: the Green Transition Fund, with an allocation of 250 million Euros, and the Digital Transition Fund, with a budget of 300 million euros.
The Ministry of Enterprise in Italy has announced that venture capital funds are now available for startups and small and medium-sized enterprises focused on the ecological and digital transition.
These funds intends to finance projects that promote ecological and digital transition. They are financed with European resources included in the National Recovery and Resilience Plan (PNRR) for 550 million euros.
These funds aim to stimulate the country’s growth through direct and indirect venture capital investments, thereby encouraging risk-taking among investors.
Key Points:
- Venture capital funds are now available for startups, and small and medium-sized enterprises focused on the ecological and digital transition.
- The funds are financed with European resources included in the National Recovery and Resilience Plan (PNRR) for 550 million euros.
- Direct and indirect venture capital, encouraging investors’ risk-taking.
What is the Role of PNRR?
The National Recovery and Resilience Plan (PNRR) is vital in stimulating economic recovery and increasing the country’s resilience after the COVID-19 pandemic. Here are some key roles and objectives of the PNRR.
1. Investing in key areas
The PNRR aims to invest in digitalization, healthcare, education, infrastructure, and the green economy, to create jobs, promote economic growth, and improve social welfare.
2. Funding from the European Union
The PNRR finances by the European Union’s Recovery and Resilience Facility (RRF) funds.
3. Promoting sustainability
The PNRR emphasizes promoting sustainable economic growth and addressing climate change by investing in a green economy, sustainable infrastructure, and renewable energy.
4. Encouraging innovation
The PNRR encourages innovation and entrepreneurship by investing in research and development, promoting public-private partnerships, and supporting startups and small and medium-sized enterprises.
5. Strengthening governance and public administration
The PNRR also aims to improve the effectiveness and efficiency of public administration, strengthen governance, and promote transparency and accountability.
Overall, the PNRR is an important program that aims to address the challenges posed by the COVID-19 pandemic and promote sustainable economic growth in Romania.
On Other Sources
The resources allocates under the National Recovery and Resilience Plan (PNRR) are drawn from two funds, namely the Green Transition Fund and the Digital Transition Fund.
The Green Transition Fund has allocate 250 million euros, while the Digital Transition Fund assigned 300 million euros. Both funds manages by CDP Venture Capital SGR on behalf of the Ministry of Enterprise and Made in Italy.
These funds includes in the PNRR interventions “Support for startups and venture capital active in the ecological transition” and “Startup financing.”
However, the project under green transition will involve using sustainable energy, energy efficiency, and sustainable mobility. In contrast, the digital transition will involve using Artificial Intelligence, Cybersecurity, Fintech, and Blockchain.
The Managing Body will select investment proposals by providing investment policy funds for best market practices. Moreover, 40% of the investment will reserve for making in southern regions.
Final Words
PNRR has to play a crucial role in the development of the economy by increasing resilience after Covid-19. In addition, it has shown valuable support for startups in Italy.
They recently developed a plan of 550 million for startups. It includes a wide range of initiatives, healthcare, digitalization, infrastructure, and green economy.
The green transition fund and Digital Transition Fund establish under PNRR to support new startups and small-size and medium-size enterprises focused on the ecological and digital transition.
Here, the funds manages by CDP Venture Capital SGR on behalf of the Ministry of Enterprise. With these investments, PNRR is responsible for stimulating economic growth, creating new jobs, and promoting economic development in Italy.
FAQs
What is the PNRR?
The PNRR is a program launch by the Italian government to promote economic recovery and increase the country’s resilience after the COVID-19 pandemic.
How is the PNRR financed?
The PNRR finances by the European Union’s Recovery and Resilience Facility (RRF) funds.
What are the key objectives of the PNRR?
The key objectives of the PNRR are to invest in critical areas such as digitalization, healthcare, education, infrastructure, and the green economy, promote sustainability, encourage innovation, and strengthen governance and public administration.
What are the Green Transition Fund and Digital Transition Fund?
The Green Transition Fund and Digital Transition Fund are funds establish under the PNRR to support startups and small and medium-sized enterprises focused on the ecological and digital transition.
Who manages the Green Transition Fund and Digital Transition Fund?
Both funds manages by CDP Venture Capital SGR on behalf of the Ministry of Enterprise and Made in Italy.
How much funding is available under the Green Transition and Digital Transition Fund?
The Green Transition Fund allocates 250 million euros, while the Digital Transition Fund has assigned 300 million euros.
