The 10 million Ligurcapital fund for businesses and start-ups is launched

From 22 September, Ligurian start-ups, micro-enterprises and small and medium-sized enterprises will be able to apply for equity and semi-equity investments worth between 100,000 and 500,000 euros. This is made possible by the Ligurcapital fund, totalling 10 million euros, which was launched yesterday in Genoa. Each investment from the fund must be matched by a financial commitment from at least one private, an independent third party, holding a stake of between 40 per cent and 60 per cent (to view the scheme, visit the online calls for proposals portal of Ligurcapital, a company controlled by the Liguria Region and established to support businesses).

“The regional government,” emphasised Alessio Piana, Regional Councillor for Economic Development, “wants to support the growth and consolidation of businesses and start-ups. The Liguria Region, through Ligurcapital, will take a minority stake in these businesses, providing – over a period of up to five years – the liquidity needed to establish themselves or enter new markets.”

It was explained that applications will be assessed, until funds are exhausted, on the basis of the date of submission. Decisions will be taken by an investment committee comprising three experts from the venture capital sector, who are independent of the Liguria Region and Ligurcapital, and who have been selected through a public procedure.

“These new tools,” said Luigi Attanasio and Enrico Lupi, presidents of the Chambers of Commerce of Genoa and the Ligurian Riviera, “can make a significant contribution to the growth of start-ups and help to consolidate businesses during the most delicate phase of their existence.”

Over the last 10 years, Ligurcapital, as explained by its chairman, Giorgio Lamanna, “has managed resources totalling around 22 million euros, generating an economic impact on the region of around 123 million euros: 5.6 euros for every euro invested. Added to this is a significant impact on employment, with the creation of around 505 new jobs.’