PNRR: 400 MILIONI PER LA CREAZIONE DI IMPRESE FEMMINILI

About the initiative

The National Recovery and Resilience Plan (PNRR), under Mission 5 – Component 1 “Labour Policies”, Investment 1.2 “Creation of female enterprises”, allocates €400 million to increase women’s participation in the labour market, specifically supporting their involvement in entrepreneurial activities. To this end, the Ministry of Economic Development (MISE) has established the Female Enterprise Fund, which provides subsidised loans and grants to newly created or existing female-led businesses. Operational management (design, evaluation, disbursement, and post-disbursement activities) and technical support are handled by Invitalia S.p.A., the Ministry’s in-house entity, under a specific agreement.

Budget allocation

• €200 million to refinance existing instruments NITO and Smart&Start, recalibrating them exclusively for female-led enterprises;
• €160 million to refinance the Female Enterprise Fund, established under the 2021 Budget Law, supplemented by €33.8 million in national resources;
• €40 million for accompanying actions, monitoring, and communication, including €1.2 million managed by the Department for Equal Opportunities, plus €6.2 million in national resources.

Milestones and targets

• M5C1-17: Approval of the ministerial decree establishing the “Female Enterprise Fund” by Q3 2021;
• M5C1-18: At least 700 female-led enterprises financed by Q2 2023;
• M5C1-19: At least 2,400 female-led enterprises financed by Q2 2026.

Monitoring and recommendations

The Court of Auditors has noted limited engagement from women with these funds. While the initial assessment indicates that the PNRR target of financing 700 enterprises by June 2023 is not at risk, concerns remain about allocating 40% of resources to Southern Italy. The Court has issued recommendations to MISE, which is responsible for overseeing Invitalia’s operational management of the initiative.