From October 30, 2024, young farmers will be able to access the “Generation Earth” incentive, which finances the purchase of agricultural land to consolidate or start a business activity. Funding varies between 500,000 euros and 1.5 million euros, with the possibility of obtaining a first-time settlement prize of up to 100,000 euros
.
Here is a complete guide on how the Generazione Terra 2024 measure works, who can benefit from it, and how to submit the application.
What does the 2024 Earth Generation Call for Proposals provide
Generazione Terra 2024 is a facilitative measure managed by ISMEA (Institute of Services for the Agricultural Food Market) that covers up to 100% of the purchase price of agricultural land. It is aimed at young people up to 35 or 41 years old (as appropriate) who wish to expand their farm or start a new business in the agricultural sector
.
The funding ranges from 500,000 euros for young startups with titles up to 1.5 million euros for young agricultural entrepreneurs and startups with experience. The loan has a maximum duration of 30 years, with 2 years of pre-amortization. In addition, for young startups with experience or qualification, there is a prize for the first installation worth 100,000 euros
.
When does Generation Earth 2024 start
Applications can be submitted from 12:00 on October 30, 2024 until 12:00 on November 29, 2024, as established by the 2024 public notice.
Who is entitled to Earth Generation Financing
The following individuals can access funding:
1. Young Agricultural Entrepreneurs: EU citizens, resident in Italy for at least two years and aged no more than 41 years, who intend to expand or consolidate the area of
their farm.
2. Young Startuppers with Experience: EU citizens not older than 41 years, resident in Italy for at least 2 years, and enrolled in an agricultural or similar pension management for at least two years in the previous five years
.
3. Young Startuppers with Title: Young people under 35 years old, EU citizens, resident in Italy for at least two years, who are not yet agricultural entrepreneurs but have a technical agricultural diploma or degree in
agriculture.
The Available Resources
For 2024, ISMEA has allocated 80 million euros divided as follows:
•35 million euros for young agricultural entrepreneurs and startups with experience operating in Central-Northern Italy.
•35 million euros for operations in the South and islands.
•10 million euros for qualified young startups.
How much does Generazione Terra 2024 finance
The maximum funding provided is:
• 1,500,000 euros for young agricultural entrepreneurs and experienced startups.
• 500,000 euros for qualified young startups.
The financing can cover up to 100% of the purchase price of the land, excluding additional expenses such as notary fees and taxes. A lump sum reimbursement is required for land valuation expenses (500 euros) and 50% of notary
fees.
How the First Settlement Award Works
In addition to funding, young startups with experience or qualification can benefit from a first-time settlement prize of up to 100,000 euros. This is delivered
:
•60% at the time of the concession (up to 60,000 euros).
•The remaining 40% (up to 40,000 euros) after the implementation of the business plan, to be completed within 5 years of taking office.
How to Apply
Applications for Earth Generation 2024 must be submitted exclusively via electronic procedure from 12:00 on October 30, 2024 to 12:00 on November 29, 2024. Access to the online procedure is possible from the reserved area of the ISMEA website
.
Once the application has been submitted, the system will return a project code and the applicant will receive a confirmation via PEC with the exact time of submission, determining the chronological order for accessing the funds.
Demand Support
For clarification or assistance in submitting the application, you can contact the ISMEA Public Relations Office through:
•Telephone: +39 06 855 68 319/+39 06 855 68 260.
•Email: [email protected].
Generazione Terra 2024 represents a significant opportunity for young people who want to start or expand an agricultural business. With funding of up to 1.5 million euros and premiums for the first settlement, the measure facilitates access to land, stimulating entrepreneurship in agriculture
.
