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LEGAL COMPLIANCE

AC75 Startup Accelerator S.p.a. Company has adopted the Organization Management and Control Model in compliance with the Legislative Decree dated8 June 2001 no. 231, which regulates the administrative liability of organizations arising from committing certain criminal offenses by people acting on their behalf.

The Model also includes a Code of Ethics, which identifies and formalizes the principles inspiring the organization’s actions. Compliance with the Model and the Code of Ethics has been delegated to a Supervisory Body, to which reports can be addressed to via a dedicated email  odv@ac75sa.com specifying  “Reports to the Supervisory Body of Startup Accelerator S.p.a. pursuant to Legislative Decree 231/2001” in the subject line of your email.

(Reports will be handled by the Supervisory Body with due confidentiality and secrecy, in compliance with the relevant legislation in force.)

All those who, in any capacity or level, perform their work for AC75 Startup Accelerator S.p.a. company, are required to observe the rules of the Code of Ethics. This publication serves as notification.

 

CODE OF ETHICS

1. INTRODUCTION

AC75 Startup Accelerator S.p.A. (hereinafter also referred to as “AC75” or the “Company”) is a startup accelerator that operates in developing an innovation hub in the Marche region, through the active involvement of startups, corporate companies, research centers and national and international investors, with the aim of initiating operational collaborations between each of the main players. AC75 activity involves the search and selection of talents, skills and competencies of people in the area aimed at jointly developing future managerial roles and business concerns.  AC75 researches, selects and invests in high innovative content startups with a high potential market success, thus supporting them with capital investments and specific acceleration programs, also targeted to young talents.

AC75’s first investor is the Marche Foundation, which has always promoted the renewal and growth of the Marche production system through entrepreneurship, by fostering startup projects with a special focus on youth employment benefits.

1.1. CONTENT AND SCOPE

The Company has laid down a Code of Ethics that formalizes and defines behavioral rules and principles, thus representing its commitment to moral integrity and economic and social responsibility, which are the Company founding values.

The “Code of Ethics” was approved by the Board of Directors by resolution dated December 20, 2023 and defines the ethical and social principles of the Company itself and all those working for it, are expected to abide by and observe it. This Code is therefore aimed at providing ethical guidelines that will address all actions carried out by of AC75, therefore its provisions will have a binding effect on the behavior of all involved with the company (including , but not limited to: directors, employees, consultants, etc…). The Code of Ethic has been widely circulated both within and outside the Company implementing all the appropriate and proper means of communication and is available to any of the Company stakeholders. The Company also undertakes to ensure that the provisions of underlying Code in all financial relationships established by the same are adhered to.

In no case, in fact, shall wrongful/unethical behavior deemed to be a violation of these principles and the Company’s mission be justifiable, even though such behavior be adopted in bona fide. Should the nature of the services or processes deem it necessary, specific Codes of Conduct may be developed on the basis of these principles at the Board’s sole discretion and judgment.

 

2. GENERAL PRINCIPLES

2.1. RELATIONS AND GOALS

The Code of Ethics aims at identifying ethical principles to be applied to all employees and stakeholders of the Company, in a simple and methodical manner.

In application of the provisions set forth in Article 6 of Legislative Decree No. 231 of June 8, 2001, the Code of Ethics is a substantial and integral part of the Organization and Management Model, thus integrating the regulatory framework the Company is subject to.

The Code is also inspired by high principles and values which are recognized and protected in Italy, Europe and internationally.

These include, but are not limited to:

  • The United Nations Universal Declaration of Human Rights and the European Convention on Human
  • The United Nations Convention on the Rights of the
  • The United Nations Women’s Empowerment
  • The International Labor Organization
  • The OECD Guidelines for Multinational
2.2. PRINCIPLES
2.2.1. LEGALITY

Observance of laws and regulations in force in Italy, Europe and all the countries in which the Company operates, and respect for the democratic order established therein, are essential and binding principles. Under no circumstances hence shall the pursuance or any such achievements carried out in the interest of AC75 and that are not in line with the Code of Ethics, be tolerated.

2.2.2. TRANSPARENCY

In managing its business, the Company shall pursue the principle of transparency by documenting business-related activities and choices in a transparent manner, so as to allow traceability of relevant activities and identify and define motives, reasons and responsibilities. The Company- in compliance with any applicable transparency obligations -, makes corporate information of public interest available, by communicating thorough and accurate commercial information to its stakeholders.

2.2.3. CONFIDENTIALITY

Likewise, shall the Company protect the confidentiality of its own or third parties’ information by implementing clear and objective authorization processes. In particular, the Company shall process personal data in strict compliance with any applicable regulations in force, by adopting behaviors that shall not compromise the rights and freedom of any concerned party.

2.2.4. FAIRNESS

The Company performs its activities in such a way as to preserve the interests of its stakeholders, in bona fide, guaranteeing the fulfillment of the mandatory duties of social solidarity, as imposed by Article 2 of the Italian Constitution.

2.2.5. HONESTY

The Company’s actions shall be impartial, thus avoiding all forms of discrimination based on age, racial and ethnic origin, nationality, political opinions, religious beliefs, gender, sexuality, or state of health.

2.2.6. PROHIBITION OF DISCRIMINATION, VIOLENCE, HARASSMENT

The Company respects, promotes and implements everyone’s right to a world of work free from any violence and harassment. Any action of a violent or unjustifiably discriminatory nature, or harassment, carried out by an employee in any capacity or level, shall not be tolerated by the Company. Harassment is meant to be a set of unacceptable practices and behaviors, or the threat of engaging in them, whether once or repeatedly, which are aimed at, may cause, or jeopardize the physical, psychological, sexual, or economic condition.

2.2.7. ENVIRONMENT

The Company is aware of the impact of its activities on the social- economic development and quality of life of the area where it operates; as a result, it commits to carry out its activities in such a way as to safeguarding the surrounding environment and contributing to the sustainable development of the territory.

2.2.8. CULTURAL HERITAGE

The Company acknowledges that the protection and enhancement of cultural heritage, as enshrined in the Italian Constitution, contribute to preserving the memory of the national community and its territory and promoting the development of its culture. For this purpose, it undertakes to ensure its preservation – to the extent of its competence and within the limits of its powers-  in compliance with any applicable regulations in force.

 

2.3. CODE OF ETHICS VALUE

Observance of rules in underlying Code shall be considered an essential part of the contractual obligations of anyone who performs their work for the Company, in any capacity and/or level, whether acting as employees, collaborators, partners, suppliers or directors.

Serious, persistent or repeated violation of the rules of the Code of Ethics on the part of its recipients, will jeopardize the trust relationship established with the Company, in addition to constituting a serious breach which, depending on the case, may result in the imposition of disciplinary sanctions, compensation for damages, and termination of the existing relationship with the offender.

 

3.         GOVERNANCE

The governance system adopted by the Company does comply with current legislation and is aimed at ensuring utmost and fair collaboration amongst its various components, through harmonious reconciliation of the different management, direction and control roles.

Hence shall all and any activity thereof carried out by members of corporate bodies be inspired by the principles of fairness and integrity, and shall thereto refrain from carrying out any actions that may fall in conflict of interest regarding activities performed by the members themselves in the Company. They are also required to adopt behaviors inspired by the principles of autonomy, independence and compliance with the Company’s guidelines, in all the relationships established by them with public institutions and private entities on the Company’s behalf.

The regular and informed participation in the Company’s activities is also required of them; they shall make confidential use of the information they become aware of by virtue of their office, and cannot use their position to obtain personal, direct or indirect advantages; any communication activity shall comply with laws and conduct good practices and shall aim at protecting sensitive and industrial secret information. Members of the Company’s bodies are required to comply with current legislation, as well as with the principles contained in underlying Code and the Organization and Management Model. Furthermore, they will be subject to the loyalty and confidentiality obligations even following termination of their work relationship with the Company.

 

4. RELATIONS WITH COLLABORATORS AND EMPLOYEES

4.1. VALUE OF PEOPLE

AC75 company recognizes the value of human resources, respect for their autonomy, and the importance of their participation in business activities.

AC75 company promotes respect for the physical and cultural integrity of individuals, and:

  • encourages and cares about the professional growth of its collaborators;
  • creates a receptive working environment, by stimulating individual and group professional contributions;
  • strives to involve people in sharing objectives and assuming responsibilities consistently with the positions held;
  • adheres to professionalism, competence and meritocracy criteria in the selection, appraisal, remuneration and training of staff, thus avoiding any form of discrimination;
  • ensures working conditions that respect individual dignity and safe working environments;
  • shall not permit requests or threats aimed at inducing people to act against the law and the Code of Ethics, or to adopt behaviors that may jeopardize the moral and personal beliefs and preferences of each individual.

The Company supports and respects human rights in accordance with the United Nations Universal Declaration of Human Rights.

Similarly, the Company expects employees to act in accordance with the principle of impartiality and strives to maintaining a sound company environment, where the dignity and personality of each individual is always respected.

 

4.2. WORKPLACE ATMOSPHERE

The Company is committed to ensuring compliance with all necessary conditions to create a collaborative and friendly work environment, free from violence and harassment ;  to prevent any discriminatory behavior of any kind, such as, but not limited to, discrimination of whistleblowers, or gender, sexual orientation, race, religious beliefs, philosophical ideas, political ideas, wealth discrimination, etc .

The Company requires that no harassment occurs between internal and external working relationships, such as:

 

–         creation of an intimidating, hostile or isolating work environment towards a single employee or groups of employees;

–         unwarranted interference with the performance of work tasks;

–         hindering of individual job prospects for mere personal competitiveness reasons;

–         harassment of a sexual nature for its own sake or imposed to facilitate the giving or obtaining of benefits within the work environment.

 

The collaboration of everyone is required in order to maintain a climate of mutual respect in terms of individual dignity, honor and reputation. Any disparities that can be justified on the basis of objective criteria do not represent a discriminatory behavior.

 

4.3. WORK

The Company recognizes the centrality of human resources as the key success factor of any business, in a sound work environment characterized by mutual loyalty and trust between employer and employees.

Recruitment shall be governed by regular employment contracts in full compliance with all legal and contractual regulations in force, thus facilitating staff integration in the workplace.

The Company encourages continuous professional improvement of its staff, even through the implementation of training initiatives.

 

4.4. TRAINING

The Company periodically identifies and schedules training initiatives, the contents of which are defined according to the needs of each category of employees that is required to comply with this Code of Ethics.

Participating in training events is one of the Company’s obligations and that staff is required to fulfil.

 

4.5. ACCOUNTING ENTRIES AND RECORDS

All those entrusted with the task of keeping accounting records are required to make all entries accurately, thoroughly, truthfully and transparently and to allow for any audits to be conducted by authorized parties, including external parties. Accounting records must be based on accurate and verifiable information and must fully comply with in-company accounting procedures.

Each entry shall allow the tracing of the related transaction and must be supplemented by adequate documentation.

All actions concerning the activity of AC75 company shall be adequately recorded, in such a way as to allow the performance of checks and controls on decision-making, authorization and implementation processes.

The following actions shall not be allowed or tolerated, for any reason whatsoever:

  • engage in objectively or subjectively simulated transactions, making use of false documents or other fraudulent means capable of hindering the assessment and thus mislead the financial administration/tax authorities.
  • issue or release invoices or other documents for the purpose of non-existing transactions.
  • destroy, in whole or in part, accounting records or documents whose filing is mandatory, so as not to allow income or turnover traceability.
 
4.6. PEOPLE SAFETY

The Company is committed to protecting the moral and physical integrity of its employees, consultants and clients. To this end, it promotes responsible and safe behaviors and adopts all the safety measures connected with technological evolution, in order to ensure a safe and healthy work environment, in full compliance with current prevention and protection regulations, as pursuant to Legislative Decree 81/2008.

 

4.7. SERVICE PROVIDERS

Anyone who performs their work, in any capacity and at any level, for AC75 company shall maintain a position of autonomy and integrity, in order to avoid to make decisions or carry out activities even though apparently in conflict of interest with regard to the activity of the Company itself. Any activity that is in conflict with the proper fulfillment of one’s duties or that could harm the interests and image of the Company, shall be avoided. Any conflict of interest situations, whether real or potential, shall be reported in advance to the head of the competent Organizational Point who, according to the prescribed methods, will inform the Chairman of the Board of Directors and the Supervisory Body.

Anyone who performs their work, in any capacity and at any level, for the Company cannot ask, for themselves or others, gifts or other benefits, nor can they accept the latter- except those of modest value or in line with ordinary business and courtesy practices-, from anyone who has benefited or who may in some way benefit from the Company’s activities. Likewise, no gifts or other benefits may be offered to any person from whom favorable treatment may be obtained in the performance of any activity associated with that of the Company. Illicit advantages cannot be offered to public and private customers or suppliers. Gifts and advantages offered but not accepted, exceeding a modest value, shall be reported to the head of the competent Organizational Point, who will evaluate them appropriately and will inform the Chairman of the Board of Directors and should the conditions exist will undertake to inform the Supervisory Board as well. This rule does not envisage any exceptions, even in those countries where offering valuable gifts or other benefits is customary.

 

4.8. CUSTODY OF INFORMATION

Anyone performing their work for the company is required to keep information learned in carrying out their duties confidential, in accordance with current laws, regulations and circumstances. They shall continue to observe the obligation of confidentiality even after termination of the employment relationship, ensuring that the requirements of current privacy regulations be met. They shall also carefully keep all company documents in their possession. Anyone who performs their work, in any capacity and at any level, for the Company shall not transact any business deal, on their own behalf or on behalf of third parties, which results to be in competition with the Company’s activity, nor disclose any information pertaining to the Company’s organization and production processes, even through personal pages on social networks, or make use of it in a manner that could be detrimental to the latter.

 

5. INFORMATION

The information disclosed by AC75 Company shall be exhaustive, transparent, comprehensible and accurate, so as to allow recipients to make informed decisions about their relationships with the Company.

The Company is committed to clearly and transparently inform all stakeholders about its situation and performance, without favoring any interest groups or individuals, through the corporate functions specifically appointed for this purpose.

All transactions and operations performed shall be adequately recorded so that the related decision-making, authorization and execution processes can be verified. Each transaction shall be backed by adequate documentary support, in order to allow the conduct of random checks aimed at verifying the characteristics and reasons for the transaction and identifying the person who authorized, carried out, recorded, and verified said transaction.

 

5.1. COMMUNICATION

Information pertaining to AC75 Company and its plans and addressed to mass media, may only be disclosed by authorized company functions/roles, in compliance with current protocols and procedures. Should collaborators be asked to provide information or give interviews, they shall inform the company competent function and receive prior and specific authorization. In any case, disclosure of data or information to the public shall be done in a truthful, transparent manner and in line with the image and strategies adopted by the Company.

The protection of information is a founding principle in the Company, therefore it shall be everyone’s duty to adopt careful and responsible behavior in handling company information.

 

6. PUBLIC ADMINISTRATIONS AND AUTHORITIES

The undertaking of commitments to Public Administrations and Public Institutions is reserved exclusively for specifically appointed and duly authorized company functions, in the strictest compliance with any applicable legal and regulatory provisions and shall in no way compromise the integrity and reputation of the Company.

For this reason, it is necessary that documentation regarding contacts with the Public Administration be collected and stored.

The Company, through its employees or representatives, shall not promise or offer money, goods or other benefits of various kinds to public officials, persons in charge of Public Services or any employees of the Public Administration or other Public Institutions, with the aim of promoting and favoring their own interests or the interests of the organization , or even to compensate or repay for an action pertaining to their office or to oblige the performance of an action which is  in conflict to the duties of their office.

Actions of commercial courtesy, such as gifts or forms of hospitality, or any other form of benefits (including donations), are allowed only if they are of modest value and are such as not to compromise the integrity and reputation of the parties and that cannot be interpreted, by a third and impartial observer, as actions aimed at obtaining improper advantages and favors. In any case, such actions shall always be duly authorized and adequately documented.

Any activity, either direct or through intermediaries, aimed at influencing the independence of judgment or at ensuring any advantage for the organization, is strictly prohibited.

 

7. EXTERNAL RELATIONS

AC75 Company is aware of the impact of its activity on the economic and social development and the general well-being of the surrounding community, therefore it pays special attention to balancing their interests, in its daily operations. For this reason, it commits to conduct every activity in the full respect of local and national communities.

The Company believes that dialogue with associations, institutional and scientific partners is of strategic importance for the proper development of its activities and intends to cooperate with them in the full respect of mutual interests. As regards relations with political parties, their representatives or candidates, the organization strictly complies with all applicable regulations.

The Company favorably considers and, where appropriate, provides support to social and cultural initiatives also through contributions to foundations whose activities are aimed at the promotion of the individual and the improvement of the quality of life. These contributions shall be made in a manner which is strictly compliant with applicable laws and provisions and shall be adequately documented.

 

7.1. RELATIONS WITH START- UPS

Start Ups constitute an integral part of AC75’s corporate assets.

The Company maintains relationships with Start Ups that observe the fundamental principles and – taking into account their legal, social, economic and cultural reference system -, the rules of underlying Code. In order to consolidate esteem and, consequently, loyalty of AC75 Start Ups, relationships with the latter shall be established by each Recipient according to legality and morality criteria, in compliance with the principles of professionalism and honorability. For this purpose, Recipients are required to carry out their activities with Start Ups by assuring competence, precision, prudence, wisdom, dedication and efficiency, as well as honesty, loyalty, availability and transparency. In particular, they are required to:

  • observe the procedures established by AC75 regarding relations with Start Ups;
  • provide Start Ups with accurate, precise and comprehensive information concerning the services provided by AC75.
 
7.2. SUPPLIERS

Supplier selection methods shall comply with applicable regulations as well as the company’s internal procedures specifically provided for the purpose. Supplier selection and the purchase of goods and services of any kind, shall be made in accordance with the principles of competition and equality of conditions of offers and on the basis of objective evaluations regarding competitiveness, quality, usefulness and price of the supply, as well as in compliance with the principles of legality.

Under no circumstances may an assignment be entrusted with the intentional purpose of obtaining benefits or advantages, even indirectly, from a public official, a person in charge of a public service or similar subjects.

The Company shall pledge to carry out regular checks, in order to ensure compliance with the Model and the Code of Ethics.

 

7.3. STAKEHOLDERS

The conduct of  AC75 company is based on cooperation and trust towards stakeholders, i.e. all public or private entities, whether individuals, groups or institutions, whose contribution is necessary for the pursuance of the Company mission and/or whose interests are directly or indirectly  affected by the Company’s activity.

 

8. CONTROLS AND REPORTS

8.1. DISCIPLINARY RULES

Observance of the rules of the Code of Ethics must be considered an essential part of the employees’ contractual obligations, as pursuant to and in accordance with Article 2104 of the Italian Civil Code. Violations of the rules of the Code of Ethics may constitute the non-fulfillment of the primary obligations of the employment relationship or be deemed as a disciplinary offence, in compliance with the procedures provided for in Article 7 of the Workers’ Statute, and the Disciplinary Code, with all legal consequences, including the preservation of the employment relationship, and may lead to compensation for damages deriving thereof.

Compliance with the Code must be considered an essential part of the contractual obligations undertaken by non-subordinate collaborators and/or subjects enjoying business relations with the Company. Violation of the rules of the Code of Ethics may constitute a non-fulfillment of contractual obligations, with all legal consequences, including the termination of the contract and/or assignment, and may lead to compensation for damages deriving therefrom.

The Company undertakes to establish and impose sanctions proportionate to the respective violations of the Code in a consistent, impartial and uniform manner, in accordance with current provisions on the regulation governing employment relationships.

 

8.2. CONTROL

Verification of observance and enforcement of the rules contained in underlying Code relies, first of all, on each Organizational Point Head, then to the Board of Directors and, finally, to corporate supervisory functions such as the Board of Statutory Auditors and the Supervisory Body.

 

8.3. REPORTS

Reporting violations of this Code, even though alleged, to the Supervisory Body is both a right and the duty of each person, as well as an essential parameter of diligence, collaboration and loyalty for anyone who performs their work for the Company, in any capacity and/or level, including directors, shareholders, partners and internal and external stakeholders.

 

8.4. WHISTLEBLOWING

The Company complies with the principles on whistleblowing by regulating the reporting management process in the ” Procedure for reporting offences and irregularities ” and by providing an IT channel that ensures the secrecy and confidentiality of both the whistleblower and the content of the report.

 

The Company has identified a Reporting Officer who shall act as an independent third party with respect to the Company itself.

 

9. CONCLUSION

The Board of Directors has hence approved the Code of Ethics and ensures that it will spread, apply, supervise and update the same through the organisational system of the company.