SELFIEmployment

According to the early impact assessment, the initial results suggested that there is a slow engagement rate with potential final recipients, likely due to a lack of awareness. Experience has shown that financial instruments are more effective when supported by robust local communication campaigns that involve stakeholders who are close to the recipients. Thus, the primary challenge for the managing authority is to actively engage regions and local authorities to enhance communication efforts and reach more potential recipients. This communication should extend to the municipal level to better connect with NEETs and be reinforced by local institutions, employment centers, and job service providers. The managing authority is now working to involve more regional and local authorities to increase awareness among the target audience.

Another challenge involves simplifying and streamlining the application process. Although the application is online, which saves time, a high number of requests are still being discarded due to procedural issues. Final recipients often struggle with completing the application and sometimes fail to provide all necessary documentation. Additionally, many applications are rejected due to the absence of a digital signature.

Additionally, several success factors were noted. In particular, The absence of collateral makes it easier for projects to access financing, and the revolving nature of the financial instrument ensures that the program can support more people over the long term. This does not impact competition, as the ex-ante assessment highlighted that NEETs cannot secure financing under market conditions. Additionally, the combination of financial support and non-financial services is crucial for the program's success. Given the recipients' lack of business experience, the comprehensive range of non-financial services provided by professional experts over a reasonable period has improved the chances of turning business ideas into start-ups. Ongoing support from Invitalia has enhanced the effectiveness and sustainability of the financial instrument and reduced start-up failures.

While applicants still face some challenges in submitting applications, the entirely online process saves time and aids in monitoring. Furthermore, some tutoring activities offer continuous online support to recipients, providing quick solutions to entrepreneurial problems and needs. Most funded projects are located in Southern Italian regions, which are more severely affected by unemployment and a higher proportion of NEETs. This is particularly significant as the initiative appears to be more effective where it is most needed.