INNOVATION
Guided by the conviction that Research & Development are powerful tools for promoting national economic growth, the Republic of san Marino joined EUREKA in 2005, and in 2006 adopted the first law on promotion of industrial research (Law no. 19 of 27 January 2006) and sub-decrees on EUREKA research projects and national research projects (Delegated Decree no. 129 of 1 December 2006 and Delegated Decree no. 126 of 10 March 2008, respectively).
The allocated funds were granted for the first time in 2006 in the form of subsidized credit with interest paid by the State. The companies that successfully completed the project have been granted tax credit.
The Office for Research Coordination and Promotion at the Patent and Trademark Office of Republic of San Marino is responsible for managing the funds allocated to support San Marino companies active in R&D.
Law no. 19 of 27 January 2006 provides for subsidized credit as a major funding resource for companies engaged in industrial research, precompetitive development, innovation and technology transfer. Credit is granted by the banks joining the initiative. Loan interest is paid by the Government.
Rules
Subsidized credit may cover up to 50 percent of eligible costs, in particular:
- Staff costs;
- General expenses;
- Machinery and equipment;
- Consulting;
- Intangibile goods.
The loan term is usually up to 10 years. The share of interest that shall be paid by the Government is established by the Technical Evaluation Committee.
Procedures
Loans are granted on an annual basis by the banks joining the initiative based on the maximum amount of funding allocated under the State Budget. The bank is also responsible for evaluating the financial capacity of the applicant.
The applicant should meet the economic and financial criteria defined in the implementing decrees.
If the applicant is granted a positive evaluation by the bank, the Technical Evaluation Committee shall determine whether or not the company meets the relevant economic and financial criteria, and whether or not the project is innovative and the documentation complete. Subsequently, the Committee shall determine the amount to be granted, the loan repayment term and the share of interest to paid by the Government.
Subsidized credit shall be granted only after the research project is awarded the EUREKA label.
Restrictions
Subsidized credit shall be granted:
1) only to entities having legal personality under the San Marino legislation;
2) only if the project entails an overall investment of 100,000.00 Euro to be paid by the San Marino applicant alone;
3) if the applicant employs at least 5 employees or 3 employees and 2 project managers.
Adresse:
Ufficio per il Coordinamento e la Promozione delle Attivitą di Ricerca
Ufficio di Stato Brevetti e Marchi
Via 28 Luglio 212
47893 Borgo Maggiore
Repubblica di San Marino
Tel: + 378 0549 882982
Fax: +378 0549 883859
