IoT & AI

€ 2.2 bn for IoT and ultra-wide band in Italy

The Italian Government has allocated € 2.2 billion to the ultra-wide band project that requires investments also in relation to the IoT, smart cities and start ups.

As part of an initiative aimed at improving the technological development in Italy, a protocol of understanding was executed between the Italian Agency for Digital Italy and the Ministry of Finance under whose terms € 2.2 bn (but the amount might be increased over the time) will be allocated to 5 priority sectors:

  1. smart city,
  2. support to the competitiveness of companies improving their level of technologies and digital capabilities,
  3. acceleration of innovative start ups,
  4. Internet of Things (IoT) and
  5. exploitation of the national strategy on ultra-wide band.

With reference in particular to start ups, the Italian Agency for Digital Italy will create an incubator with € 250 million of liquidity and additional € 50 million will be allocated to a venture capital fund managed by Invitalia Ventures, a company fully controlled by the Italian Government.

The above is taking place during the time when the IoT and projects dedicated to start ups are getting considerable attention in the country.  And indeed, a consultation by the Italian privacy authority on how to better regulate the Internet of Things is ongoing and the first Italian smart city was created with the Milan EXPO smart city.  We will see the developments of the above.

@GiulioCoraggio

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Giulio Coraggio

I am the head of the Italian Technology sector and the global head of the IoT and Gaming and Gambling groups at the world-leading law firm DLA Piper. IoT and artificial intelligence influencer and FinTech and blockchain expert, finding solutions to what's next for our clients' success.

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