All firms developing IoT, AI or blockchain technology are going to be eligible to use for presidency subsidies provided the funds are going to be utilized in specific sectors, like health.
The Ministry of Economic Development of Italy has proclaimed that bound blockchain projects can qualify to use for up to $46 million in government subsidies starting from September.
In a Tuesday announcement, the Ministry said firms and public or personal analysis companies are ready to apply for funding from the govt for the event of projects associated with AI, the web of Things and blockchain technology. The fund can have an initial budget of forty five million euros — roughly $46 million at the time of publication — for expenses and prices from five hundred thousand (worth $512,150) to 2 million euros ($2,048,600) as a part of the Italian government’s goals for investments in technology, analysis and innovation.
“We support companies' investments in with-it technologies with the aim of encouraging the modernization of production systems through management models that are more and more interconnected, efficient, secure and quick,” said Minister of Economic Development Giancarlo Giorgetti. “The goal of fight needs the producing business to perpetually introduce and use the potential of latest technologies.”
The government directive was created potential by a decree in December 2021 establishing criteria for using the fund and a future one in June 2022 during which the Ministry set the terms and conditions for submitting applications. according to the decree, firms of any size are eligible to use for subsidies provided the funds are used for IoT, AI or blockchain in sectors as well as business and producing, tourism, health, the environment and aerospace.
( Turner Wright, Cointelegraph, 2022 )