On 15 November 2018 the prize-giving ceremony of the Open Innovative PMI Award was held in Rome. The initiative was devised by Bernoni Grant Thornton and is aimed at rewarding Italian innovative SMEs. The 2nd edition of the Observatory on Innovative SMEs Report by Bernoni Grant Thornton in collaboration with the University of Pisa - analysing the situation of Italian innovative SMEs, was also presented during the event.
The award and the Observatory are part of a wider project aimed an analysing and supporting this specific type of businesses, typical of the Italian entrepreneurial fabric, but still little known. The initiative was promoted in order to support innovative SMEs, inform about the tax, corporate and financial incentives provided in the regulation currently in force and help them grow.
The applications received for the 2nd edition of the award have been evaluated by an independent panel of experts, including Massimo Miani (Chairman of the National Board of Chartered Accountants), Barbara Angelini (CNR, the National Research Council), Giulio Greco (University of Pisa), Marco Cerù (Chairman of the Centre-South section of ANDAF, the Italian Association of CFOs) and Paolo Poletti (Chairman of Securitalia Security Solutions).
The three winners, which stand out for their ability to innovate, to attain economic results both in Italy and abroad and to adopt winning business models, further to the formal award, will also receive professional assistance from Bernoni Grant Thornton, to keep them growing on the market and find - if necessary - new investors.
During the event, Prof. Giulio Greco presented the 2018 edition of the Observatory on Innovative SMEs Report, which analyses the demographic, economical, assets, organisational and strategic dynamics of innovative SMEs. These include 877 companies at 24 September 2018 (+35% compared to 30 September 2017).
While the 2017 report aimed at providing a first overview of the sector, the 2018 edition identifies its growth trends, analysing the 230 new SMEs included in the dedicated register. In 2017, 79% of SMEs were limited liability companies (s.r.l.), most operating in the services industry; 59% of them had a production value lower than 1 million Euro and only 7.6% exceeded 10 million. Moreover, 88% of businesses invested over 3% of their turnover in innovation.
This scenario was confirmed in 2018, as concerns specifically the composition and geographical distribution of SMEs, although their economics show a few concerns.
65% of the 230 businesses enrolled in the innovative SMEs register between 1 December 2017 and 30 September 2018 operate in the services industry and 25% have a turnover lower than 250,000 Euro. The report thus shows a slow growth, which contrasts with the innovative nature of these businesses.
Alessandro Dragonetti, commented: “The second edition of the Observatory on Innovative SMEs Report shows that four years after the introduction of the incentives, the number of businesses enrolled in the dedicated register still hasn’t reached 1,000 and in first nine months of 2018 the number of applications is lower than in 2017. This could be due to an insufficient knowledge of the benefits available when enrolling in the register.
In order to foster and support this type of business it is necessary to facilitate the entrance of institutional investors, which can bring stability and managerial expertise, but also introduce a streamlined patent box and encourage the employment of women/young people, with a labour regulation specific for SMEs.”
