First playable fund: Italy encourages video games development
In order to encourage the digital entertainment, the Italian Government provided a Digital Entertainment Fund, the so called “First Playable Fund”.
In particular, resources are available to facilitate the development of the Italian video games industry, with the aim of supporting the design and the pre-production phases that are necessary for the creation of prototypes. The benefit refers to a provision of non – refundable grants equal to 50% of eligible expenses, and for an amount ranging from € 10.000 to € 200.000 per single prototype.
The benefit abovementioned may only be used for the production of prototypes whose products will be available for commercial distribution.
In order to get the grant the companies have to meet the following requirements:
- have their registered office in the European Economic Area;
- to be taxable in Italy by virtue of their tax residence, or by the presence of an operating office in Italy;
- have a minimum fully paid-in share capital and shareholders’ equity of not less then 10.000 euros;
- have an activity code (ATECO code) 58.2 or 62.
The eligible expenses to get the benefit are those referred to :
- work carried out by the company’s staff in the production of prototypes;
- professional services commissioned from freelancers or other firms for the production of prototypes;
- hardware purchased for the realization of prototypes;
- software licenses purchased for the production of prototypes.
The realization of the prototype must take place within 18 months from the recognition of the admissibility of the application and in accordance with the procedures that will be provided by the MISE with a decree to be issued by July 17, 2020.