Blockchain projects in Italy will now be sponsored by the government — $46 million is already here


Now every company developing Internet of Things, artificial intelligence or blockchain technologies will be able to apply for government subsidies. But only on condition that the funds will be used in a specific sector — this is healthcare.

The Italian Ministry of Economic Development also indicated that starting in September, some blockchain projects will qualify for government subsidies in the amount of up to $ 46 million.

The initial budget of the fund will be 45 million euros, which is approximately 46 million dollars at the time of publication.

“We support companies' investments in advanced technologies. Modernization of production systems that are becoming more interconnected, efficient, safe and fast,” said Giancarlo Giorgetti, Minister of Economic Development. “Competitiveness requires constant innovation and the use of the potential of new technologies.”

A decree in December 2021 establishing the criteria for the use of the fund and a decree in June 2022 opened up these opportunities. According to the decree, companies of any size will be eligible to apply for subsidies, provided that the funds will be used for the Internet of things, artificial intelligence or blockchain in sectors such as industry and manufacturing, tourism, healthcare, environment and aerospace.

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