Brazil-Italy-Europe Observatory  ·  🇧🇷 🇮🇹 🇪🇺

Opportunities Map Brazil-Italy-Europe
A fortnightly benchmark of tenders and funding in Italy for Brazilian start-ups and SMEs

Period: 17/09/2026 to 01/10/2026 Published: 01/10/2026 Previous edition: 16/09/2026

🔄 What has changed since the edition of 16/09/2026

This fortnight's news is on the side of Italian capital coming into Brazil. SIMEST announced a €200 million facility for startups and innovative SMEs, run with CDP Venture SGR, which can also take stakes in foreign companies (whether a Brazilian startup with no Italian link is eligible still has to be confirmed with SIMEST), and the Latin America Measure, with €500 million for Italian companies in the region and more than €80 million already invested in the capital of local companies and joint ventures. The page of the CDP Venture Capital Fondo Acceleratori was read directly for the first time: the network invests €70,000 to €200,000 at pre-seed and €200,000 to €500,000 at follow-on, but the registered-office requirements depend on each call. ICE Agenzia was checked: its startup programmes are reserved for Italian companies, and its agenda in Brazil comes in as a channel for contact with potential Italian partners. The re-check also led us to correct two figures from the previous edition and to withdraw numbers that could not be reconfirmed (see What's new). No change to the rules: the Regione Lombardia call opened on 28/09, as expected, and runs until 25/11; Investimenti Sostenibili 4.0 opens for submission on 06/10.

❌ Closed

RAMP, Joint Transnational Call 2026: the pre-proposal deadline passed on 22/09/2026; only the invited consortia go on to the full proposal (15/02/2027). BRAVI 2026: applications closed and the selected companies announced; the mission to Italy (with Ecomondo) goes ahead, but with no open call. Italian business mission to São Paulo (14/09): held, leaves the table. Contratto di Sviluppo, automotive sportello: temporarily closed since 06/08/2026 (the other sportelli remain open).

✅ Still open

Lombardia, Sviluppo tecnologico startup innovative (now open, until 25/11). Smart&Start Italia and Contratto di Sviluppo (Invitalia, active). Invest in Italy (service). Italia Startup Visa. SIMEST Fondo 394 (for Italian subsidiaries). CDP Venture Capital National Accelerator Network. EIC Accelerator (cut-off 04/11). Horizon Europe. On Italian capital: SIMEST Venture Capital, CDP and BNDES, CDP, SACE and Banco do Brasil.

🆕 New in this edition

SIMEST, facility for startups and innovative SMEs (€200m, with CDP Venture SGR). SIMEST, Latin America Measure (€500m for Italian companies; more than €80m already invested in local companies and joint ventures). ICE Agenzia, Brazil agenda as a contact channel. For Italian companies only: SIMEST "AI Investments" (€200m, applications since 21/09) and the ICE Global Start Up Program. Corrections: EIC Accelerator investment is €1 to €10 million (not €0.5 to 15m); Investimenti Sostenibili 4.0 rests on the Ministerial Decree of 18/03/2026 (not 08/03); withdrawn for lack of official reconfirmation: the "until 31/12/2026" deadline of Fondo 394, the ZES Unica figures and the Startup Visa quota, and the EU-Brazil Administrative Arrangement.

📊 Opportunities at a glance

✅ Direct Brazilian access⚠️ Through an EU corporate structure🔗 Through an EU partner in the consortium 🏢 Through an Italian subsidiary🤝 Self-funded (associated partner)🆕 New in this edition
ProgrammeDescriptionCategoryType of supportDeadlineAmountOrganisationInfoAccess for Brazilian companies
📋 National and regional instruments
Sviluppo tecnologico delle startup innovative
Regione Lombardia / Finlombarda
 Non-repayable grant for early-stage innovative startups to raise their technology readiness level (TRL), from prototype to industrial validation. The notice expressly covers companies not resident in Italy 📋 GeneralR&D / prototyping / TRL Non-repayable grant, up to 80% of costs Open until 25/11/2026, 15:00 OPEN SINCE 28/09 €15.6m budget (€7m reserved for energy projects); up to €1m per company, €1.5m in assisted areas Regione Lombardia ↗ link ✅ Yes, Italian office needed only by the 1st disbursement
Investimenti Sostenibili 4.0, Bando 2026
MIMIT / Invitalia
 Innovative and sustainable investment programmes of micro, small and medium-sized enterprises in the less developed regions of southern Italy (PN RIC 2021-2027) 📋 SustainabilityProductive investment 4.0 35% grant + 40% subsidised loan Submission from 06/10/2026 OPENS IN 5 DAYS €447.6m; programmes of €750,000 to €5m MIMIT / Invitalia ↗ link 🏢 Through a company already active in southern Italy, with 2 approved accounts
Smart&Start Italia
Invitalia / MIMIT
 Zero-interest loan for high-tech innovative startups; open to foreign companies that set up an office in Italy and to teams with a Startup Visa 📋 GeneralTech product, service or platform Zero interest on 80% of costs (up to 90%); 30% non-repayable in the Centre-South Rolling sportello, assessment within 60 days €100,000 to €1.5m Invitalia / MIMIT ↗ link 🏢 With an Italian office or a Startup Visa
Contratto di Sviluppo
Invitalia / MIMIT
 Incentive for large investments in industry, agro-industry, tourism and environmental protection, open to Italian and foreign companies of any size 📋 GeneralProductive investment Non-repayable grant, subsidised loan and interest subsidy Active automotive sportello closed since 06/08 Minimum investment of €20m (€7.5m in specific cases) Invitalia / MIMIT ↗ link 🏢 Through an Italian production unit
Invest in Italy, Sportello Unico Nazionale
MIMIT / Invitalia
 Single interface for foreign investors: site selection, identification of incentives, faster procedures and aftercare 📋 GeneralInvestment attraction Institutional support (not funding) Rolling Not applicable MIMIT / Invitalia ↗ link ✅ Yes, any country of origin
Italia Startup Visa
MIMIT / MAECI
 Simplified visa procedure for non-EU entrepreneurs who want to set up an innovative startup in Italy; not funding 📋 GeneralVisa / soft landing Administrative facilitation Rolling nulla osta within 30 days Not applicable MIMIT ↗ link ✅ Direct access
SIMEST, Fondo 394
SIMEST / CDP Group
 Subsidised loans for the internationalisation of Italian companies; relevant to Italian subsidiaries of Brazilian groups 📋 GeneralInternationalisation Subsidised loan with a non-repayable share Rolling portal offline from 02 to 05/10 Varies by line SIMEST ↗ link 🏢 Through an Italian subsidiary
National Accelerator Network (Fondo Acceleratori)
CDP Venture Capital
 Network of about twenty vertical acceleration programmes with pre-seed and follow-on investment; applications through each accelerator's website, with annual calls 📋 GeneralAcceleration plus equity Equity: pre-seed of €70,000 to €200,000; seed follow-on of €200,000 to €500,000 Per accelerator 3 to 4 cohorts per programme €254m fund CDP Venture Capital ↗ link 🏢 Rules of each call; usually requires an Italian vehicle
📋 European calls
EIC Accelerator, 04/11/2026 cut-off
EIC / European Commission
 Grant and investment for startups and SMEs with breakthrough innovation (TRL 6 to 8); last cut-off of 2026 📋 GeneralDeep tech Grant below €2.5m + investment 04/11/2026, 17:00 Brussels short proposal at any time Investment of €1 to €10m; 2026 budget: €414m (Open) and €220m (Challenges) EIC / EISMEA ↗ link ⚠️ Relocate the company to the EU before stage 2
Horizon Europe, Work Programme 2026-2027
European Commission
 Thematic research and innovation calls for consortia; deadlines and funding rules set topic by topic 📋 GeneralR&D / innovation Grant to consortia Per topic check the portal Per topic European Commission ↗ link 🔗 Through an EU consortium
📋 Brazil-Italy bilateral cooperation
ICE Agenzia, agenda of initiatives in Brazil🆕 NEW
ICE Agenzia, São Paulo office
 Italian pavilions at trade fairs and missions of Italian companies in Brazil (among them Seafood Show Latin America 2026, the Sistema Moda Brasil 2026 mission and a roadshow seminar on the textile machinery chain). For Brazilian companies, a channel for contact with Italian suppliers, partners and potential shareholders 📋 GeneralMatchmaking / B2B Access to Italian counterparts ICE agenda for Oct./Nov. 2026 Not applicable ICE Agenzia ↗ link ✅ As the Brazilian counterpart
💶 Italian capital for Brazilian companies operating in Brazil
SIMEST, Equity Investments and Venture Capital
SIMEST / CDP Group, under an agreement with MAECI
 Minority stake by SIMEST, together with public venture capital funds, in the capital of a company abroad (Brazil included) in which an Italian company invests. The Brazilian company does not need to export to Italy 📋 GeneralEquity in a Brazilian company Equity stake on market terms; VC remunerated at the ECB rate + spread No window; application by the Italian company Up to 49% of the capital (SIMEST + VC), not exceeding the Italian share SIMEST ↗ link 🔗 Through a sponsoring Italian partner
SIMEST, facility for startups and innovative SMEs🆕 NEW
SIMEST with CDP Venture SGR (Fondo 394)
 Investments in startups and innovative SMEs to support internationalisation, by subscribing shares or financial instruments, foreign companies included, with no mandatory SIMEST co-investment 📋 GeneralVenture capital Direct and indirect investments (including FoFINT) No deadline announced €200m facility SIMEST / CDP Venture SGR ↗ link 🏢 Eligibility of a Brazilian company with no Italian link to be confirmed with SIMEST
SIMEST, Latin America Measure and stakes in local companies🆕 NEW
SIMEST, São Paulo office (since 2024)
 Subsidised loans and export credit for Italian companies setting up or growing in the region, and direct investments in the capital of local companies and joint ventures 📋 GeneralCapital and credit Stakes in local companies and JVs; subsidised loans Measure in force €500m (Measure); more than €80m in direct investments, according to SIMEST SIMEST ↗ link 🔗 Through an Italian company (JV or stake)
CDP and BNDES, cooperation on green projects
Cassa Depositi e Prestiti / BNDES
 Memorandum to develop and finance green projects in Brazil (renewables, sustainable infrastructure, agribusiness, natural resources), and a letter of intent with KfW, AFD and the Ministry of the Environment for the National Climate Change Fund 📋 SustainabilityProject finance / transition Financing and co-financing of projects Pipeline built project by project Up to €1bn (Joint Initiative, figure announced by CDP) CDP ↗ link ⚠️ Large scale, not early stage
CDP, SACE and Banco do Brasil
CDP / SACE / Banco do Brasil
 €250m line to Banco do Brasil, 80% guaranteed by SACE, on-lent to companies and local authorities for ESG projects; half reserved for the areas hit by the floods in the South. CDP and SACE promise business matching activities 📋 SustainabilityIntermediated credit Credit through a Brazilian bank Under way €250m (€125m for the areas hit) CDP / SACE ↗ link ✅ Yes, through Banco do Brasil

📂 Open opportunities in detail

1. Regione Lombardia, Sviluppo tecnologico delle startup innovative

Open until 25/11/2026, 15:00
Non-repayable grant, merit-based assessment with a ranking
€15,637,408.95, with €7m reserved for energy projects
Up to 80% of eligible costs
€1m; €1.5m with an operating office in an assisted area (art. 107.3.c TFEU)
Decree no. 10622 of 04/08/2026; DGR no. 6218 of 25/05/2026
Finlombarda S.p.A.
What has changed since 16/09
The window opened at 10:00 on 28/09/2026, as expected. The published rules have not changed.
Who can apply
Small and micro enterprises set up no more than 36 months ago, or up to 60 months if the solution is at TRL 6 or below; unlisted; with no profit distribution. Companies not resident in Italy take part with their incorporation and registration in their own country (with supporting documents) and declare their intention to register in the innovative startups section and to set up an operating office in Lombardy by the first disbursement request. One application per applicant.
How to join
Applications only through the Regione Lombardia Bandi e Servizi platform, from 10:00 on 28/09 to 15:00 on 25/11/2026. Questions about submission and assessment: [email protected]; technical support for the platform: 800.131.151 and [email protected]. Application platform · Official page and Allegato A
The Chamber's reading: this is the opportunity to prioritise this quarter. Eight weeks remain; assessment is on merit (not first come first served), so the time should go into the technical quality of the project and into the translated Brazilian company documents.
Caveat: art. A.3, paragraph 3, of Allegato A lists cases of exclusion and should be read by Italian advisers before submission. Approval requires the Italian structure to be set up before the first disbursement.

2. Smart&Start Italia, Invitalia

Rolling, sportello
€100,000 to €1.5m
Zero interest on 80% (up to 90% in the cases provided for); 30% non-repayable for startups in the Centre-South
Within 60 days, first come first served
Who can apply
Small innovative startups, set up no more than 60 months ago and listed in the special section of the Companies Register; teams of foreigners with a Startup Visa; foreign companies that set up an office in Italy.
How to join
Application through the Invitalia personal area, attaching the documents from the Modulistica section; there is no deadline and no ranking. Foreign companies and companies not yet incorporated use the same form through the dedicated personal area (SSI sportello). How to apply · Incentive page
Suggested sequence: for those approved in Lombardy, the Italian company to be set up becomes eligible for Smart&Start; check the rules on combining aid for the same costs with Italian advisers.

3. Contratto di Sviluppo, Invitalia / MIMIT

Active
€20m; €7.5m for agricultural processing and tourism in inland areas or the recovery of buildings
For strategic investments from €50m
Italian and foreign companies of any size, with up to 4 member companies
Who can apply
An Italian or foreign proposing company, any member companies and participants in R&D projects, with an industrial, agro-industrial, tourism or environmental protection programme.
How to join
Application through the Invitalia personal area. Before applying, a meeting with the Invitalia team to check the project's fit can be requested through the same personal area. Apply · Incentive page
For Brazilian groups: a large-scale instrument for setting up a manufacturing or agro-industrial plant in Italy. Since 06/08/2026 the automotive sportello has been temporarily closed; since November 2025 the CISAF regime has applied to clean technologies.

4. Invest in Italy, Sportello Unico Nazionale

Rolling
Institutional support, not funding
Invitalia, for the MIMIT Sportello Unico
What it offers
Site selection, identification of applicable incentives, faster administrative procedures and aftercare once established.
How to join
Direct contact with the Sportello Unico Nazionale through the Invest in Italy portal, describing the investment project. Sportello Unico Nazionale · Invitalia page
Figures withdrawn: the ZES Unica figures quoted in the previous edition were not reconfirmed in an official source in this round and have been left out.

5. Italia Startup Visa

Rolling
Self-employment visa for a startup, not funding
Nulla osta within 30 days
Who can apply
Non-EU entrepreneurs, resident in their own country, who want to set up an innovative startup in Italy.
How to join
Direct application by e-mail to the committee ([email protected]), with the application form, a presentation, cost and revenue projections, a letter on financial resources and a copy of the passport; or through a certified Italian incubator, with a hosting declaration. With the nulla osta, apply for the one-year visa at the relevant Italian consulate. Programme portal and forms
Figure withdrawn: the annual visa quota quoted in the previous edition was not reconfirmed in this round.

6. CDP Venture Capital, National Accelerator Network

Calls per accelerator
Fondo Acceleratori, budget of €254m
€70,000 to €200,000 per startup
€200,000 to €500,000
3 to 4 cohorts per programme, 8 to 10 startups per cohort
Network programmes
Food Seed, Forward Factory, Argo, Faros, HabiSmart, Fintech, Vita, Personae, Takeoff, Cyber X, Next Age, Zero, Terra Next, Vital Match, Cross Connect, StyleIt, Magic Spectrum, Frontech, FuturED, MotorValley Accelerator.
How to join
Application through the annual call for applications published on each accelerator's website; about 20 startups screened per cohort, with a final selection of 8 to 10. Fondo Acceleratori page
Caveat: the fund's page does not deal with foreign startups; the registered-office requirements are set out in each call. The previous edition said it was open to international startups with an operating office in Italy; this was not reconfirmed in the source in this round. CDP VC's FOF Internazionale (€307m) invests in international funds that allocate to Italian companies and is not a route for Brazilian companies.

7. SIMEST, Fondo 394 (Italian subsidiaries of Brazilian groups)

Rolling
Who can apply
Italian companies, including already incorporated Italian subsidiaries of Brazilian groups, according to the requirements of each line.
How to join
Registration and application through the SIMEST loans portal. The portal is unavailable from 02 to 05/10/2026. SIMEST portal · Active lines
For Brazilian companies: a second-stage instrument, not an entry point. The "31/12/2026" deadline quoted in the previous edition was not reconfirmed and has been withdrawn.

8. EIC Accelerator, cut-off of 04/11/2026

04/11/2026, 17:00 Brussels
Below €2.5m, 24 months
€1 to €10m (equity or quasi-equity)
At any time, assessed in batches on the first Tuesday of the month
Who can apply
Startups and SMEs from Member States or countries associated with Horizon Europe. According to the EIC, companies from third countries can relocate to become eligible, provided they do so before the full proposal (stage 2).
How to join
Stage 1: short proposal on the Funding & Tenders Portal (12-page form, pitch deck of up to 10 slides and a video of up to 3 minutes), with an answer in 4 to 6 weeks. Stage 2: after a positive opinion, full proposal at one of the cut-offs. Stage 3: interview with the EIC jury. Submission (HORIZON-EIC-2026-ACCELERATOR-01) · EIC Accelerator page
Planning: for a Brazilian startup, the 04/11 cut-off is realistic only if the European structure already exists. For the others, prepare the short proposal now and aim for a 2027 cut-off, whose calendar has not yet been published.

9. Horizon Europe, Work Programme 2026-2027

Deadlines per topic
Who can apply
Consortia with European partners; Brazilian entities can join consortia, and whether they can receive European funding depends on the text of each topic.
How to join
Find the topic on the Funding & Tenders Portal, check its deadline and eligibility rules and join a consortium; the consortium coordinator submits on the portal itself. Topic search

10. ICE Agenzia, agenda of initiatives in Brazil 🆕 NEW

Agenda Oct./Nov. 2026
What is on in Brazil
The ICE Brazil agenda lists the National Pavilion at Seafood Show Latin America 2026, the Sistema Moda Brasil 2026 business mission and a roadshow seminar on the Italian textile machinery chain, as well as the Italy Pavilion at Plástico Brasil 2027. ICE has an office in São Paulo and a correspondent point in Rio de Janeiro.
What is not for Brazilian companies
The Global Start Up Program and free participation in collective trade fair stands are reserved for Italian startups and innovative SMEs.
How to join
There is no application for Brazilian companies: it is Italian companies that sign up. The Brazilian side takes part as the counterpart in the meetings, by contacting the ICE São Paulo office listed on the Brazil market page. ICE, Brazil market · Programmes for Italian startups
The Chamber's reading: ICE does not fund Brazilian companies, but its missions bring to Brazil exactly the Italian companies that can bring in SIMEST as partners. It is worth matching the ICE agenda against the Brazilian members in the sectors concerned.

11. SIMEST, Equity Investments and Venture Capital

Case by case
49% of the planned capital (SIMEST + VC)
Up to twice the SIMEST stake
Market terms; VC at the ECB rate + a spread by company size
Who can apply
Italian companies of any size investing abroad (Brazil included) in productive, commercial or highly innovative activities; the public stake cannot exceed that of the Italian shareholders.
How to join
The Italian company asks SIMEST for the direct stake and, together with it, for the venture capital stake, using the application form published on the page. The Brazilian company does not file an application of its own. Page and application form
For the Brazilian entrepreneur: the task is to find the Italian partner; the Italian State multiplies that partner's cheque.

12. SIMEST, facility for startups and innovative SMEs 🆕 NEW

No deadline announced
€200m, direct and indirect investments (FoFINT)
CDP Venture SGR
Art. 18-quater of Decree-Law 34/2019; Ministerial Decree of 13/04/2022; Law 207/2024
Who can apply
Startups, innovative ones included, and innovative SMEs, to support internationalisation; SIMEST can also subscribe shares or financial instruments of foreign companies.
How to join
There is no public form: SIMEST points to its Customer Care (800.020.030). Page and documents
Caveat: the instrument is designed for startups and innovative SMEs as defined in Italy. The page does not say whether a Brazilian startup with no Italian link is eligible: confirm with SIMEST before building any investment case.

13. SIMEST, Latin America Measure and stakes in local companies 🆕 NEW

In force
€500m between subsidised loans and export credit
More than €80m in the capital of local companies and joint ventures
SIMEST office in São Paulo, active since 2024
Who can apply
Italian companies that want to build or consolidate a presence in the region.
How to join
The Italian company applies through the SIMEST portal; on the Brazilian side, the contact point for joint ventures and stakes is the SIMEST office in São Paulo. SIMEST portal · SIMEST press release

14. CDP in Brazil: BNDES and Banco do Brasil

Under way
CDP and BNDES
Cooperation memorandum to develop and finance green projects in Brazil (renewables, sustainable infrastructure, agribusiness, natural resources) and a letter of intent of up to €1bn, with KfW, AFD, BNDES and the Ministry of the Environment, for the National Climate Change Fund.
CDP, SACE and Banco do Brasil
€250m with an 80% SACE guarantee, on-lent by Banco do Brasil to companies and local authorities for ESG projects, half in the areas hit by the floods in the South; CDP and SACE announced business matching activities for Italian companies.
How to join
There is no CDP call. For credit, the Brazilian company or authority turns to Banco do Brasil's ESG lines, and the bank grants the loans directly. For the CDP and BNDES axis, projects are originated by the two banks. CDP press release, Banco do Brasil · CDP press release, BNDES
The Chamber's reading: neither is an instrument for early-stage startups. Credit through Banco do Brasil reaches Brazilian SMEs directly; the CDP and BNDES axis is of interest to large projects.

🔭 Expected opportunities (opening soon)

1. Investimenti Sostenibili 4.0, Bando 2026, MIMIT / Invitalia

Submission from 06/10/2026
€447,595,808.76 (25% for micro and small enterprises)
From €750,000 to €5m, up to 70% of turnover in the latest financial statements
35% grant + 40% subsidised loan
Basilicata, Calabria, Campania, Molise, Puglia, Sicily and Sardinia
Who can apply
Micro, small and medium-sized enterprises incorporated and active in the Italian Companies Register, keeping ordinary accounts and with at least two approved financial statements, with a production unit in the regions listed. Basis: Ministerial Decree of 18/03/2026 and directorial decree of 05/08/2026.
How to join
Online procedure in the "Investimenti sostenibili 4.0 - PN RIC 2021-2027" section of the Invitalia website: forms can be filled in since 10/09/2026 and submitted Monday to Friday, 10:00 to 17:00, from 06/10/2026, in daily chronological order. The legal representative logs in with SPID, CNS or CIE; companies not resident in Italy use the methods indicated by Invitalia. One application per company. MIMIT page · Directorial decree of 05/08/2026
Route in, now clarified: the caveat in the previous edition has been resolved at the source. It only reaches Brazilian groups with an Italian subsidiary already operating in southern Italy.