SIMEST USA Measure 2026: complete guide for Italian SMEs — amounts, deadlines, and eligible expenses….
Author: Link2America — U.S. Market Consultants | Updated: July 2026 Reading: 14 minutes
The Italian government is providing millions of euros to help SMEs enter the U.S. market. Few people are aware of this, and even fewer know which funding instruments to combine and which expenses are actually eligible. This guide explains everything in a practical way, with amounts, deadlines, and conditions updated as of July 2026.
Table of Contents
- Why Now: The Context—July 2026
- Available Tools: Overview
- SIMEST U.S. Measure: The Most Important Tool
- The 6 options under Fund 394: Which One Is Right for You?
- ICE Agency: What It Covers and How to Access It
- Regional Calls for Proposals: Lombardy, Lazio, Emilia-Romagna, Veneto
- How to combine multiple tools together
- What happens if the U.S. company hasn't been incorporated yet?
- The Most Common Mistakes That Cause You to Lose Your Benefit
- Frequently Asked Questions (Q&A)
- How can we help you?
Why Now: The Context—July 2026
On July 1, 2026, the Steering Committee for Internationalization, chaired by the MIMIT Minister, approved the national strategic guidelines, confirming the U.S. as the leading non-European market for Made in Italy products with a +7.2% in exports in 2025.
At the same time, the EU-U.S. agreement ratified in May introduced 15% tariffs on European products bound for the U.S.. This makes a strategic decision even more urgent for many Italian SMEs: whether to continue exporting while paying the tariff, or to establish a direct presence in the U.S.—by manufacturing, assembling, or distributing from within the U.S. market, thereby addressing the problem at its root.
To this end, there are Italian public funds—both national and regional—that cover a significant portion of the entry costs. These funds are already in place and accessible, and will be available at least through the end of 2026.
Available Tools: Overview
There are three levels of public funding available to Italian SMEs looking to enter the U.S. market.
Level 1 — National (SIMEST / Fund 394): The main instrument, with a credit line of 200 million allocated to the U.S., a subsidized interest rate of 0.319%, and a non-repayable grant of up to 10-20%. Administered by SIMEST, a company of the Cassa Depositi e Prestiti Group.
Level 2 — ICE Agency: promotional services, group participation in U.S. trade shows, market analysis, and distribution support. It significantly reduces costs without providing direct subsidies.
Level 3 — Regional: Call for proposals in Lombardy, Lazio, Emilia-Romagna, and Veneto offering non-repayable grants covering up to 50% of expenses, aimed at promoting exports to the U.S.
These three levels can largely be combined — provided that the total does not exceed 100% of eligible costs and the de minimis ceiling of 300,000 euros over the three-year period.
SIMEST U.S. Measure: The Most Important Tool
What It Is and When It Was Founded
Dal January 14, 2026, SIMEST has launched an initiative designed exclusively for Italian companies with interests in the United States. It is called U.S. Measurement and is part of Fund 394/81. This is not a call for proposals with a fixed deadline: applications may be submitted on an ongoing basis through the SIMEST Portal until the dedicated budget of 200 million euros.
What's Different Compared to Standard Measures
The conditions for businesses with interests in the US are better than the standard measures:
- Loan duration: 8-year term (including the first 2 years of grace period) for the Digital Transition and Market Entry lines
- Advance payment upon signing: changes from 25% to 50% in the approved financing plan
- Cap on capital increases in US subsidiaries: up to 1,000,000 euros
- Subsidized rate: 0.3191 TP3T fixed annual rate
- Non-repayable grant: 10% of the financed amount, up to 100,000 euros
- Non-repayable grant increased to 20% (max 200,000 euros) for companies in Southern Italy, innovative startups, innovative SMEs, youth-led, women-led, or energy-intensive businesses
Who can access
Companies that meet these requirements may access:
- Registered in the Italian Business Register
- Not in a state of crisis or insolvency proceeding
- No debt positions with SIMEST
- With de minimis ceiling available
- With at least two filed financial statements
2026 News: some lines are now also accessible to non-exporting companies that belong to supply chains with an international focus. Those who have never exported directly can access it if they are part of the supply chain of an exporting company.
How much can you get
The maximum amount that can be financed is the lower of the 35% of the average revenue for the last two fiscal years and the category limits: 500,000 euros for micro-enterprises, 2,500,000 euros for SMEs, 5,000,000 euros for other enterprises.
Practical example: An SME with an average annual revenue of 3 million euros can apply for up to 1,050,000 euros (35% of 3M). If it already has an active SIMEST loan of 300,000 euros, it can apply for up to 750,000 euros in new financing.
The 6 options under Fund 394: Which One Is Right for You?
Fund 394 is not a single product, but a family of 6 lines, each with different eligible expenses. Choosing the wrong line means having to redo the application from scratch.
Line 1 — Foreign Markets Entry
What it funds: opening of sales offices, showrooms, physical facilities in the USA; contracts with local agents; dedicated personnel; machinery; product adaptation costs.
For whom: who opens a branch or a commercial office in the USA, or wants to structure a local distribution network.
Project duration: 24 months. Eligible related expenses up to 40% of the total amount (training, rent, setups, trade shows).
Line 2 — E-commerce
What it funds: creation or enhancement of online sales platforms for the US market; site localization; integration with American marketplaces; localized digital marketing.
For whom: who wants to sell on Amazon USA, build an American DTC, or open digital channels.
Line 3 — Fairs and Events
What it funds: participation in international trade fairs in the USA; travel and accommodation expenses; booth setup; promotional material.
For whom: who participates or wants to participate in trade fairs in the USA (Fancy Food Show, SXSW, etc.).
Coverage: up to 3 trade fair participations.
Line 4 — Temporary Manager (TEM/DEM)
What it funds: deployment of a Temporary Export Manager or Digital Export Manager specialized in the US market for 6-12 months.
For whom: who lacks internal export skills and wants to build an entry strategy with a dedicated professional. The TEM can also support the search for American commercial partners.
Line 5 — Digital or Ecological Transition
What it funds: investments in digitalization (software, cybersecurity, Industry 4.0/5.0), ecological transition, and capital strengthening—including capital increases in US subsidiaries (up to 1,000,000 euros with the USA Measure).
Constraint: At least 50% of the amount must be allocated to digital/environmental investments.
2026 News: extended to non-exporting supply chain companies and energy-intensive companies.
Line 6 — Certifications and Consultancies (US Measure)
What it funds: legal and tax consulting for LLC or C-Corp formation; FDA, FCC, UL, CPSC certifications; product adaptation to US standards.
For whom: who must adapt their product to American standards before commercializing it.
Amount: from 10,000 to 500,000 euros | Project duration: 2 years Tasso: 0,321%
Funding summary sheet
| Tool | Duck | Maximum Amount (PMI) | Non-repayable grant | Tasso | Expiration | Regions |
|---|---|---|---|---|---|---|
| SIMEST — Market Entry (USA Measure) | SIMEST | € 2.500.000 | 10% max €100K / 20% max €200K* | 0,319% | I continue | All |
| SIMEST — US Certifications and Consulting | SIMEST | € 500.000 | 10% max €100K / 20% max €200K* | 0,321% | I continue | All |
| SIMEST — Digital/Ecological Transition (USA Measure) | SIMEST | € 2.500.000 | 10% max €100K / 20% max €200K* | 0,319% | I continue | All |
| SIMEST — E-commerce USA | SIMEST | € 2.500.000 | 10%, max €100K | 0,319% | I continue | All |
| SIMEST — Trade Fairs and Events USA | SIMEST | € 2.500.000 | 10%, max €100K | 0,319% | I continue | All |
| SIMEST — Temporary Manager | SIMEST | € 2.500.000 | 10%, max €100K | 0,319% | I continue | All |
| ITA - Collective Fairs and USA Services | ITA Trade Agency | Variable | Free services | — | I continue | All |
| SME Internationalization Voucher | Lazio Region | €15,240 per trade fair (max 3) | 100% Flat Rate | — | Verification | Only Lazio |
| Custom Export — USA Program | Reg. Lombardia | € 11.500 | 100% in Services | — | Check new windows | Only Lombardy |
| SME Internationalization Call 2026-2027 | Emilia-Romagna Region | €30,000 single / €140,000 agg. | 50% Eligible Expenses | — | Open (max 300 questions) | Emilia-Romagna only |
*20% for businesses in Southern Italy, innovative startups and SMEs, youth-led businesses, women-owned businesses, and energy-intensive businesses. SIMEST rate updated as of July 2026
ICE Agency: What It Covers and How to Access It
ITA does not provide direct grants like SIMEST, but offers a system of services that significantly reduce the costs of entering the US market.
Collective participation in trade fairs: ITA organizes Italian pavilions at major American trade fairs. Companies participate at significantly lower costs compared to individual access — in some cases participation is free.
How to access: For trade fair participations, calendars are published 6-8 months in advance — it is essential to monitor the calls for papers to submit participation requests. contact us for assistance
Regional tenders for the USA: the 4 most active regions
Lombardia — Tailor-Made Exports
Duck Lombardy Region + Unioncamere Lombardia (with Promos Italia)
Target micro, small and medium-sized Lombard enterprises with an operational headquarters in Lombardy
What it offers: structured pathway with a customized internationalization plan, a trade mission to the USA with 4-6 targeted B2B meetings, logistic support, and on-site interpreters
Amount: up to 11,500 euros per company (disbursed in services, not in cash)
Type: non-repayable grant under the de minimis regime
2026 Status: the first window (USA) closed in February 2026 — check for the opening of new windows on unioncamerelombardia.it
Lazio — SME Internationalization Voucher
Duck Lazio Region (via LazioInnova / GeCoWEB Plus)
Target SMEs with operational headquarters in Lazio, registered in the Business Register
What it offers: flat-rate voucher for participation in international B2B trade fairs (up to 3 trade fairs in 2026)
Amount: 12,700 euros for the trade show + 20% for personnel costs = approximately 15,240 euros per event
2026 Allocation: 10 million euros
Type: non-repayable grant (ERDF 2021-2027 funds)
Emilia-Romagna — SME Internationalization Call 2026-2027
Duck Emilia-Romagna Region (ERDF funds)
Target micro and SMEs based in Emilia-Romagna, individually or in temporary business associations (ATI/ATS)/networks
What it offers: Non-repayable grant under the 50% program for consulting services and trade shows targeting foreign markets (including the U.S.)
Amount: up to 30,000 euros per individual company, up to 140,000 euros for aggregations
Bonuses +5% for youth-led, women-led, or non-EU market-oriented businesses
Status: application window open — closes early upon reaching 300 applications
Veneto — Chamber of Commerce Export Vouchers
Duck Chambers of Commerce of Veneto
What it offers: vouchers for international trade fairs, commercial missions, Export Managers (TEM), internationalization consulting
Amount: generally from 2,000 to 15,000 euros per event/project (variable by Chamber)
Type: de minimis non-repayable grant
Status: check for each provincial Chamber of Commerce
How to combine multiple tools together
The most effective strategy is not to use a single tool, but to combine more than one to cover different phases of the US entry project.
Case 1 — Lombard manufacturing SME, first entry into the USA
Phase 1: Lombardy Region Voucher “Export su Misura” for the internationalization plan and trade mission (11,500 euros in services).
Phase 2: SIMEST Trade Fair Line to participate in the Fancy Food Show or a trade fair in the USA.
Phase 3: SIMEST Market Entry Program to establish an LLC in Wyoming and set up a commercial presence (up to 2.5 million euros, 8 years, advance payment 50%).
Case 2 — Tech startup, looking for US VC investors
Phase 1: SIMEST US Certifications and Consultancies Line for legal expenses for structuring a C-Corp in Delaware and Italian-American tax consultancies.
Phase 2: SIMEST Digital Transition Line for a capital increase in the US company (up to 1,000,000 euros).
Phase 3: ICE — matching services with American investors and partners.
Case 3 — Latium Agri-Food SME
Phase 1: Lazio vouchers for the New York Summer Fancy Food Show (up to 15,240 euros non-repayable grant).
Phase 2: SIMEST E-commerce Line for the American DTC platform and US Amazon integration.
Phase 3: SIMEST Temporary Manager Facility for a TEM specialized in food distribution in the USA.
What happens if the U.S. company hasn't been incorporated yet?
It is one of the most frequent questions — and the answer is more flexible than many think.
For most SIMEST lines, the US company does not need to be already established at the time of the application. It is sufficient to demonstrate 'interest in the US” through one of these elements:
- a US entity active for less than 6 months (even if not yet operational)
- the presentation of an Investment Plan describing the opening project
This means you can apply for SIMEST financing in the planning phase, use it to cover LLC or C-Corp formation expenses, legal and tax consulting, and initial operating expenses—even before opening a US bank account.
Crucial warning: the expenses must be incurred after the grant date. If you start paying for consulting or registration before the application is approved, those expenses are not eligible.
The Most Common Mistakes That Cause You to Lose Your Benefit
1. Incur expenses prior to approval
The rule is strict: eligible expenses must be incurred after the SIMEST resolution. It is the most frequent and costly mistake.
2. Do not check the de minimis cap before submitting your application
The maximum limit is 300,000 euros over the three-year period. Sabatini, Covid contributions, regional vouchers: everything erodes the ceiling.
3. Choose the wrong line
Each funding line has specific eligible expenses. Choosing the Trade Fairs line to cover office expenses creates reporting incompatibilities. Plan first, submit later.
4. Exceeding the 100% cost limit through cumulative eligibility
If the regional voucher already covers the 50% for the trade show, SIMEST can cover at most the remaining 50%—not the entire amount.
5. Waiting for “the right moment”
Fund 394 does not have click days, but it has limited resources. Applications are submitted on a rolling basis until the resources run out. Those who wait, miss out.
Frequently asked questions
What is the SIMEST USA Measure and since when has it been active?
The U.S. Measure is a specific program under Fund 394, effective as of January 14, 2026, designed for Italian companies with interests in the United States. It offers more favorable terms than standard measures: a term of up to 8 years, an advance of 50%, a maximum limit for U.S. capital increases of up to 1,000,000 euros, and a non-repayable grant ranging from 10% to 20%.
How much does SIMEST financing cost?
The subsidized rate is currently 0.3191 TP3T fixed annual rate — a figure very close to zero. It is updated periodically:
Can a startup with no export turnover access SIMEST?
Yes. Innovative startups have access to preferential terms: a non-repayable grant of 20% (up to 200,000 euros) and, in some cases, an exemption from collateral requirements. Starting in 2025, certain measures will also be extended to non-exporting companies operating within supply chains with an international focus.
Can I use SIMEST to pay the legal fees for opening a LLC in the USA?
Yes. Specialized consulting for corporate structuring in the US falls under the eligible expenses of the Certifications and Consulting Line (USA Measure). It is one of the most common expenses covered by this instrument.
If I have already received SIMEST funding in the past, can I apply for another one?
Yes, it is possible to apply for multiple grants, provided that the total exposure under Fund 394 does not exceed 35% of the average revenue for the last two years. The projects and expenses funded must be different from one another.
Can I combine SIMEST with regional vouchers?
Generally speaking, yes, provided that the total does not exceed 100% of eligible costs and the de minimis ceiling is respected. SIMEST grants that operate under the GBER framework do not count toward the de minimis ceiling—which makes them particularly attractive when combined with regional calls for proposals.
How long does it take from submitting the application to the resolution?
On average, the SIMEST preliminary investigation takes from 4 every 10 weeks from the complete submission of documentation. For regional calls: 2-4 weeks for chamber vouchers, 6-12 weeks for more structured calls.
What happens if my US company is closed before the final reporting?
The non-repayable grant is revoked. The requirement to maintain a presence in the USA must be met until the final reporting of expenses.
Could the tariffs on 15% be a reason to open a manufacturing company in the U.S.?
Yes. An American company that manufactures or assembles in the USA is not subject to import duties from Italy. SIMEST also finances productive investments and the capital strengthening of US subsidiaries, including capital increases of up to 1,000,000 euros with the USA Measure.
Can I use SIMEST to open a C-Corp and not just an LLC?
Yes. SIMEST does not impose restrictions on the legal form of the foreign company. Whether it is an LLC or a C-Corp, the financing is tied to the internationalization project rather than the corporate structure. The choice of the optimal structure is a separate tax decision — that is why we offer a cfree preliminary consultation.
How can we help you?
Navigating between six SIMEST lines, three tax aid regimes, four regional calls for tenders and the rules on cumulation is complex — and making a mistake at this stage can cost tens of thousands of euros in lost grants or applications that have to be redone.
At Link2America, we work with Italian SMEs and startups looking to enter the US market in a structured way: together, we choose the combination of tools best suited to your situation, plan your expenses to ensure they are eligible, and support you through the reporting phase.
The first step is free. We have prepared a preliminary questionnaire that allows us to arrive at the first call already focused on your specific case. No time wasted by either party.
This guide is current as of July 2026 and is for informational purposes only. Financing conditions may vary — always check the updated operational circulars on the official Simest website before submitting an application. It does not constitute tax or legal advice.
Link2America — US Market Consultants | Miami, Florida | link2america.us
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