According to multiple reports, the Italian Stability Law for 2017 extends investment crowdfunding to all small and medium companies that want to raise capital online. Previously only “innovative” SMEs were able to raise capital online but now crowdfunding will be opened up to the 136,000 small firms that power the Italian economy.
È legge: EQUITY CROWDFUNDING esteso a tutte le PMI, non solo alle innovative.
Con qualche sbavatura normativa, ma troveremo una soluzione
— Alessandro M. Lerro (@alessandrolerro) December 7, 2016
An amendment submitted by the Deputies Mrs. Adriana Galgano and Mr. Giampiero Giulietti was approved during the session of the Committee for Budget, Treasury and Planning Issues at the Italian Chamber of Deputies on November 23, 2016. Some industry advocates were describing the update propelling the Italian regulatory regime as the “most advanced European law”, similar to the UK, in terms of policies for growth and development of Innovative Ecosystem for SMEs.
According to the Observatory of Politecnico di Milano only €6 million has been raised on Italian platforms since investment crowdfunding was first approved. There are 16 authorized investment crowdfunding platforms in Italy.
Carlo Allevi, founder and operations manager at WeAreStarting, an approved online crowdfunding platform commented on the regulatory change;
“With the approval of the Stability Law 2017, Italy becomes the Country with the most advanced legislation for equity crowdfunding legislation in the world, in order to support in a simple, safe and effective way ideas and business projects. WeAreStarting confirms its commitment to support the real economy of our Country, providing access to the crowdfunding market and, as a consequence, advanced financing opportunities for our enterprises”.