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: 02/10/2026 to 16/10/2026 Published: 16/10/2026 (data checked on 17/10/2026) Previous edition: 01/10/2026

🔄 What has changed since the edition of 01/10/2026

The main news this fortnight concerns public procurement. The government procurement chapter of the EU-Mercosur Interim Trade Agreement, provisionally applied since 01/05/2026 with the four Mercosur countries, enters the report for the first time: according to the European Commission, it seeks reciprocal and non-discriminatory access to EU and Mercosur public procurement markets, with national treatment for locally established suppliers. Actual coverage depends on the annexes and must be checked tender by tender. The second novelty is a direct channel for anyone wishing to invest in Italy: the Foreign Investment Attraction Desk at the ICE office in São Paulo. The third is MIMIT's calendar for industrial property: Brevetti+ opens on 25/11, Marchi+ on 03/12 and Disegni+ on 17/12 (€ 32 million in total), open to Italian subsidiaries of Brazilian groups. On the Italian capital side, SIMEST signed memoranda in September with the Italian Chambers of Commerce in Argentina and São Paulo. In the opposite direction, Investimenti Sostenibili 4.0 closed from 07/10, one day after opening, with € 1.15 billion requested against € 447.6 million available. No change in the rules: the Regione Lombardia call remains open until 25/11, the EIC Accelerator keeps its 04/11 cut-off and the ICE agenda in Brazil follows the announced calendar.

❌ Closed

Investimenti Sostenibili 4.0, 2026 call (MIMIT / Invitalia): submissions opened on 06/10/2026 and the window was closed from 07/10/2026, by directorial decree of 06/10, because the funds were exhausted. € 1.15 billion in incentives was requested against a budget of € 447.6 million; applications submitted on 06/10 are admitted to assessment by merit ranking. It leaves the table and the expected opportunities.

✅ Still open

Lombardy, Sviluppo tecnologico startup innovative (until 25/11, rules unchanged). Smart&Start Italia and Contratto di Sviluppo (Invitalia). Invest in Italy. Italia Startup Visa. SIMEST Fondo 394 (for Italian subsidiaries). CDP Venture Capital National Accelerator Network. EIC Accelerator (cut-off 04/11). Horizon Europe. ICE, Brazil agenda (Seafood Show from 20 to 22/10, Sistema Moda mission from 26 to 30/10). Italian capital: SIMEST Venture Capital, start-up and innovative SME allocation, Latin America Measure, CDP and BNDES, CDP, SACE and Banco do Brasil.

🆕 New in this edition

EU-Mercosur Agreement: public procurement (provisionally applied since 01/05/2026). ICE São Paulo, Investment Attraction Desk (direct contact for Brazilian investors). Brevetti+, Marchi+ and Disegni+ 2026 (dates set by MIMIT on 08/10; all require a seat in Italy). SIMEST and Italian Chambers of Commerce: memoranda signed during the September mission with the chambers in Argentina and São Paulo. SIMEST, Central and South America line: detailed from the official source (reserve from € 200 million; finances capital increases of subsidiaries). ICE, start-up programmes: the Global Start Up Program and the free trade fairs are reserved for innovative start-ups and SMEs listed in the Italian register. Correction: in the Fundo Clima, the amount of up to € 1 billion is the sum of KfW (€ 500 million), AFD (€ 300 million) and CDP (€ 200 million), not a commitment by CDP alone. Removed: the 30-day term for the Startup Visa nulla osta, not reconfirmed.

📊 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 DEADLINE 25/11 €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
Brevetti+, Marchi+ and Disegni+ 2026🆕 NEW
MIMIT / Invitalia / Unioncamere
 Three rolling windows for micro, small and medium-sized enterprises: economic exploitation of patents (Brevetti+), trademark registration with the EUIPO and WIPO (Marchi+), exploitation of designs and models (Disegni+) 📋 GeneralIndustrial property Grant; Brevetti+ up to 80% of costs (85% with gender equality certification) Brevetti+ from 25/11; Marchi+ 03/12; Disegni+ 17/12 first come, first served € 32 million in total (€ 20 million, € 2 million and € 10 million); Brevetti+ up to € 140 thousand per company MIMIT ↗ link 🏢 Via SME with a seat in Italy
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 first come, first served, 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 (since 06/08/2026) and tourism (since 01/07/2025) windows closed 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 self-employment visa procedure for non-EU entrepreneurs who want to set up an innovative start-up in Italy; it is not funding 📋 GeneralVisa / soft landing Administrative facilitation Rolling 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 Varies by line SIMEST ↗ link 🏢 Through an Italian subsidiary
National Accelerator Network (Fondo Acceleratori)
CDP Venture Capital
 Network of 20 vertical acceleration programmes with pre-seed and follow-on seed investment and later direct investments; applications through each accelerator's website, with annual calls 📋 GeneralAcceleration plus equity Equity: pre-seed from € 70 to 200 thousand; follow-on seed from € 200 to 500 thousand; Series A/B of about € 1 to 5 million 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 DEADLINE 04/11short 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
EU-Mercosur Interim Trade Agreement: public procurement🆕 NEW
European Commission / Mercosur
 Chapter 12 of the agreement: reciprocal and non-discriminatory access to EU and Mercosur procurement markets, with national treatment for locally established suppliers, goods and services 📋 GeneralPublic procurement Access to covered tenders (not funding) In provisional application since 01/05/2026 Not applicable European Commission ↗ link ⚠️ Subject to coverage annexes and establishment criteria
📋 Brazil-Italy bilateral cooperation
ICE São Paulo, Desk for Attracting Foreign Investment to Italy🆕 NEW
ICE Agenzia, São Paulo office
 Point of reference for Brazilian operators with investment projects in Italy: information on the market, sectors and incentives, scouting, follow-up, B2B meetings and missions to Italy 📋 GeneralInvestment attraction / soft landing Guidance and follow-up (not funding) Rolling Not applicable ICE Agenzia ↗ link ✅ Direct access
ICE Agenzia, agenda of initiatives in Brazil
ICE Agenzia, São Paulo office
 Italian pavilions at trade fairs, missions and seminars in Brazil, open to Italian companies; for Brazilian companies, a channel to Italian suppliers, partners and potential shareholders 📋 GeneralMatchmaking / B2B Access to Italian counterparts Textile machinery seminar 19 to 24/10; Seafood Show 20 to 22/10; Sistema Moda mission 26 to 30/10 LAAD 2027: Italian sign-ups since 22/09/2026 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
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 (Fondo 394)
SIMEST, with MAECI; office in São Paulo since 2024
 Subsidised financing and export credit for Italian companies in the region, including for capital increases and shareholder loans to their subsidiaries, and direct investments in the capital of local companies and joint ventures 📋 GeneralCapital and credit for subsidiaries and JVs 6-year subsidised loan with a grant portion of 10% to 20%; stakes in local companies Measure in force € 500 million in the Measure (subsidised finance and export credit); Central and South America line with a reserve from € 200 million; over € 80 million already invested in local companies and JVs SIMEST ↗ link 🔗 Via an Italian company (subsidiary or JV)
CDP and BNDES: Fundo Clima and green projects
Cassa Depositi e Prestiti / BNDES, with KfW and AFD
 Letter of intent signed at COP30 to capitalise the National Fund on Climate Change, and a CDP and BNDES memorandum to develop and finance green projects in Brazil (renewables, sustainable infrastructure, agribusiness, natural resources) 📋 SustainabilityClimate transition Funding to BNDES, which finances the projects Being structured final agreements expected by Sept. 2026 Up to € 1 billion in total: KfW € 500 million, AFD € 300 million, CDP € 200 million CDP / BNDES ↗ link ✅ Via BNDES, under the Fundo Clima rules
CDP, SACE and Banco do Brasil
CDP / SACE / Banco do Brasil
 € 250 million line from CDP to Banco do Brasil, 80% guaranteed by SACE, on-lent to companies and local authorities for ESG projects; half reserved for the areas of Rio Grande do Sul hit by the floods 📋 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.
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, until 15:00 on 25/11/2026; selection by ranking, with formal review and technical assessment by a Technical Evaluation Unit. Questions on submission and review: [email protected]; platform technical support: 800.131.151 and [email protected]. Application platform · Official page and Allegato A
The Chamber's reading: is the opportunity to prioritise this quarter, less than six weeks before the deadline, and the only one in the table with direct access for a Brazilian start-up with no prior Italian structure. Assessment is on merit, not first come, first served: the remaining time should go into the technical quality of the project and the translated Brazilian corporate 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, first come, first served
€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, with an interview with Invitalia's experts
Who can apply
Small innovative start-ups, incorporated no more than 60 months ago and listed in the special section of the Companies Register; teams of foreign nationals holding a Startup Visa; foreign companies that set up a seat in Italy. Companies not yet incorporated apply through the project contact person, who must be one of the future shareholders.
How to join
Application online only, through the Invitalia personal area, with business plan and annexes; an Italian digital identity (SPID, CNS or CIE), a digital signature and a PEC certified e-mail address are required. There is no deadline and no ranking; an electronic protocol number is issued on submission. Foreign companies access the personal area with the same filer. How to apply and user manual · 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.
Practical note: an Italian digital identity, a digital signature and a PEC address are prerequisites for submission and usually take weeks for non-residents of Italy; arrange them before drafting the plan.

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
Automotive (since 06/08/2026) and tourism (since 01/07/2025)
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. Under the Ministerial Decree of 24/11/2025, the regime of section 6 of the CISAF (production capacity in clean technologies) applies to development contracts throughout the country, with aid that can be granted until 31/12/2030.

4. Invest in Italy, Sportello Unico Nazionale

Rolling
Free institutional support, not funding
Invitalia, supporting the MIMIT Sportello Unico, under the guidance of the Interministerial Committee for Attracting Foreign Investment (CAIE)
What it offers
Identification of the best locations and applicable incentives and faster administrative procedures; after set-up, aftercare services to solve administrative issues with the institutions involved.
How to join
Direct contact with the Sportello Unico Nazionale through the Invest in Italy contact form, describing the investment project; from Brazil, the first contact can also go through the ICE Desk in São Paulo (card 11). Sportello Unico Nazionale · Contact form

5. Italia Startup Visa

Rolling
Self-employment visa for start-ups, not funding
Free of charge (fees only at the residence permit stage)
Who can apply
Non-EU entrepreneurs who want to set up an innovative start-up in Italy.
How to join
Application by e-mail to the programme committee ([email protected]), with the form, proof of financial resources and a copy of the passport, in Italian or English; alternatively, through a certified Italian incubator, which takes over the assessment of the business model. With the nulla osta, the visa is requested at the competent Italian consulate and, on arrival, the residence permit is requested in person. MIMIT programmes page
Alternatives: Italia Startup Hub extends the same simplified route to non-EU nationals already resident in Italy; the two-year Investor Visa for Italy is for those making a significant investment in strategic Italian assets.
Caveat: the official guidelines date from 2018, and both they and the programme's own portal were offline on 16 and 17/10/2026. Confirm the current requirements with the committee or the Italian consulate before preparing the file.

6. CDP Venture Capital, National Accelerator Network

Calls per accelerator
Fondo Acceleratori, budget of € 254 million; 435 start-ups managed
€70,000 to €200,000 per startup
€200,000 to €500,000
Series A/B, around € 1 to 5 million
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
Applications through the annual call for applications published on each accelerator's website; screening of about 20 start-ups per cohort and final selection of 8 to 10, in 3 to 4 cohorts per programme. Fondo Acceleratori page
Caveat: the fund's page does not address foreign start-ups; the seat requirements are set out in each call and must be read programme by programme. CDP Venture Capital's FOF Internazionale (€ 307 million, 14 funds in portfolio) invests in international funds that commit to allocating resources to Italian companies: it 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 subsidised internationalisation financing line.
How to join
Registration and application through the SIMEST financing Portal, with the documents required by each line's circular. SIMEST Portal · Active lines
For Brazilian companies: a second-stage instrument, not an entry point. The line specific to Latin America is detailed in card 15.

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
Step 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 a response in about 4 to 6 weeks. Step 2: with a positive opinion, full proposal at one of the cut-off dates. Step 3: interview with the EIC jury. Submission (HORIZON-EIC-2026-ACCELERATOR-01) · EIC Accelerator page
Planning: for a Brazilian start-up, the 04/11 cut-off is only realistic if the European structure already exists. For the others, prepare the short proposal now and aim for a 2027 cut-off, whose calendar the EIC has not yet 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. EU-Mercosur Interim Trade Agreement: government procurement chapter 🆕 NEW

In application since 01/05/2026
Interim Trade Agreement signed on 17/01/2026, published in OJ L 2026/184; chapter 12 and annexes 12-A to 12-O
Since 01/05/2026, with the four Mercosur countries
Central government and, in some cases, sub-central entities and public undertakings, according to each party's annexes
What changes
According to the European Commission, the chapter aims to ensure reciprocal and non-discriminatory access to EU and Mercosur public procurement markets and grants national treatment to locally established suppliers, goods and services, preventing governments from favouring domestic operators once the establishment criteria are met. For a Brazilian company, it is the legal framework that makes tenders of Italian public bodies contestable, in the covered contracts.
How to join
There is no application to the agreement. The company follows Italian and European tenders published on TED, checks in chapter 12 and annex 12-A (EU coverage) whether the contracting entity and the contract value are covered, and takes part in the procedure according to the call. Text of the agreement, chapter 12 and annexes · Commission summary (Access2Markets) · Tenders published on TED
The Chamber's reading: for the first time there is a specific legal basis for Brazilian companies in Italian tenders. The practical effect is concentrated on the contracts and entities listed in the coverage annexes.
Caveat: the Commission's summary refers to national treatment for "locally established" suppliers. The exact conditions for a Brazilian supplier with no establishment in the EU, the covered entities and the thresholds must be checked in the text and with legal advice before each tender.

11. ICE São Paulo, Desk for Attracting Foreign Investment to Italy 🆕 NEW

Rolling
ICE Agenzia office in São Paulo
Guidance and support, not funding
Brazilian companies, funds and other investors
What it offers
Information and initial guidance on the Italian market, sectors, incentives and investment opportunities; scouting and sector analysis; assistance and follow-up as the project develops, involving the competent bodies in Italy; roadshows, B2B meetings and missions to Italy. Assistance is tailored to each project.
How to join
Direct contact with the Desk by e-mail ([email protected]; head: José Eduardo Poloni Ponce), describing the investment project in Italy. Desk page on the ICE website
The Chamber's reading: is the Brazilian gateway to the Invest in Italy and Invitalia circuit. For members considering Lombardy or Smart&Start, it is worth contacting the Desk before incorporating the Italian company.

12. ICE Agenzia, agenda of initiatives in Brazil

Oct./Nov. 2026
What is on in Brazil
ICE agenda for the Brazilian market: travelling seminar on the Italian textile machinery and textile supply chain (19 to 24/10/2026); National Pavilion at Seafood Show Latin America 2026 (20 to 22/10); Sistema Moda Brasil 2026 business mission (26 to 30/10). Sign-ups for Italian companies to the National Pavilion at LAAD 2027 are open (since 22/09/2026). ICE has an office in São Paulo and a correspondence point in Rio de Janeiro.
What is not for Brazilian companies
The Global Start Up Program (2026 edition with locations in Bangalore, Munich, Paris, San Diego, Singapore and Zurich) is reserved for Italian innovative start-ups, and free participation in ICE group trade fairs applies to innovative start-ups and SMEs listed in the Italian register.
How to join
There is no application for Brazilian companies: sign-ups are made by Italian companies. The Brazilian side takes part as a counterpart in the meetings, by contacting the ICE office in São Paulo (Av. Paulista, 1963, 4th floor; [email protected]; +55 11 2148 7250; Monday to Thursday 9:00 to 18:15, Friday 9:00 to 14:00). ICE agenda for the Brazilian market · ICE office in São Paulo
The Chamber's reading: ICE does not fund Brazilian companies, but its initiatives bring to Brazil Italian companies that can draw on SIMEST as partners (cards 13 to 15). For members in the seafood, fashion and textile machinery sectors, the next two weeks are a concrete window for contact. A Brazilian start-up that incorporates an Italian innovative start-up meets the Italian register listing requirement for the free trade fairs and the Global Start Up Program; the other requirements are set out in each call.

13. 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 that invest abroad (including in Brazil) in productive, commercial or highly innovative activities and request SIMEST's direct participation; 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.

14. SIMEST, start-up and innovative SME allocation

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.

15. SIMEST, Latin America Measure (Fondo 394)

In force
€ 500 million across subsidised finance and export credit
More than €80m in the capital of local companies and joint ventures
Allocation from € 200 million; 6-year financing; grant of up to 20% (max. € 200 thousand) for start-ups and innovative SMEs or those with an operating site in Southern Italy, up to 10% (max. € 100 thousand) for the others
The lower of 35% of average revenue in the last two financial statements and € 500 thousand (micro), € 2.5 million (SMEs and innovative start-ups) or € 5 million (others); minimum € 10 thousand
SIMEST office in São Paulo since 2024; memorandum with the Italian Chamber of Commerce of São Paulo signed in Sept. 2026
Who can apply
Italian companies that intend to invest in Central or South America, that already have a stable presence, export to or source from the region, and their stable suppliers, under Circular 1/394/2025.
What it finances
Financial strengthening of the company, share capital increases and shareholder loans to its subsidiaries, productive and commercial investments, scouting for new opportunities and partnerships with local entities, and staff training in Italy or in the region.
How to join
The Italian company applies through the SIMEST Portal, with the digitally signed documents required by the circular; on the Brazilian side, the contact for projects with Italian partners is the SIMEST office in São Paulo. SIMEST Portal · Line page and circular · SIMEST press release on Latin America (11/09/2026)
For the Brazilian entrepreneur: the instrument allows the Italian company to capitalise its subsidiary in Brazil. A joint venture with an Italian partner can thus receive Italian public funds without exporting to Italy.

16. CDP in Brazil: BNDES, Fundo Clima and Banco do Brasil

Under way
CDP, BNDES and Fundo Clima
At COP30, CDP signed with the Ministry of the Environment, BNDES, KfW and AFD a letter of intent to mobilise up to € 1 billion in sovereign loans to the National Fund on Climate Change (KfW € 500 million; AFD € 300 million; CDP € 200 million), for mitigation and adaptation, focusing on the North and Northeast; the final agreements were expected by September 2026. CDP and BNDES also signed a memorandum to develop and finance green projects in Brazil (renewables, sustainable infrastructure, agribusiness, natural resource management), while supporting the internationalisation of Italian companies.
CDP, SACE and Banco do Brasil
€ 250 million from CDP with an 80% SACE guarantee, announced on 22/07/2025. Half (€ 125 million) goes to the areas of Rio Grande do Sul hit by the April 2024 floods; Banco do Brasil lends directly to local authorities and companies, including damaged SMEs, and to sectors in its ESG framework. CDP and SACE announced business promotion and business matching activities for Italian companies.
How to join
There is no CDP call. For credit, the Brazilian company or public entity turns to Banco do Brasil's lines, which grants the loans directly. For the Fundo Clima, the application goes to BNDES, which operates the repayable portion of the fund, under the programme's lines (including Green Industry, Energy Transition, Green Services and Innovation, Green Machinery); SMEs can use BNDES's MPME Channel. Fundo Clima at BNDES · CDP press release, COP30 and BNDES · CDP press release, Banco do Brasil · AFD press release with the split by bank
The Chamber's reading: neither is an instrument for early-stage start-ups. Credit via Banco do Brasil reaches Brazilian SMEs directly; the Fundo Clima, via BNDES, has lines open to companies of different sizes with transition projects.
Caveat: the signing of the final Fundo Clima agreements, expected by September 2026, was not confirmed in the official sources consulted.

🔭 Expected opportunities (opening soon)

1. Brevetti+, Marchi+ and Disegni+ 2026, MIMIT 🆕 NEW

Brevetti+ from 25/11/2026, 12:00
Opens on 25/11/2026; € 20 million; managed by Invitalia
Opens on 03/12/2026, from 12:00 to 18:00; € 2 million; managed by Unioncamere
Opens on 17/12/2026, from 12:00 to 18:00; € 10 million; managed by Unioncamere
De minimis grant of up to € 140 thousand, up to 80% of costs (85% with gender equality certification; 100% when co-owned with a public research body)
Who can apply
Brevetti+: SMEs, including newly incorporated ones, with registered and operating offices in Italy, holding a patent granted in Italy from 01/01/2025 (or an exclusive licence recorded with the UIBM), a national application filed from 01/01/2024 with a "non-negative" search report, or an EPO patent validated in Italy or with unitary effect under the same conditions. Disegni+: SMEs based in Italy, to put designs and models into production and exploit them. Marchi+: micro, small and medium-sized enterprises with registered and operating offices in Italy, duly incorporated, registered and active in the Companies Register, for trademark registration with the EUIPO (Measure A) and international registration with WIPO (Measure B).
How to join
Brevetti+: application only through Invitalia's online procedure, from 12:00 on 25/11/2026 until 18:00 on the same day and, if funds remain, on the following working days from 10:00 to 18:00, first come, first served until funds run out; the project must include at least one service from the engineering and industrialisation area. Marchi+ and Disegni+: application on the Unioncamere platforms, from 12:00 to 18:00 on the respective dates. Brevetti+ 2026 page · Marchi+ 2026 platform · Disegni+ 2026 platform · MIMIT press release with the three dates
The Chamber's reading: relevant to Italian subsidiaries of Brazilian groups that have already filed patents, trademarks or designs in Italy. As it is a first-come, first-served window, the documents must be ready before it opens.
Caveat: in all three measures a seat in Italy is an access requirement; a Brazilian company without an Italian subsidiary cannot apply.