The Long-Run Effects of R&D Subsidies on High-Tech Start-Ups: Insights From Italy

Christoph Koenig, Letizia Borgomeo () and Martina Miotto ()
Additional contact information
Letizia Borgomeo: Research Department, Intesa Sanpaolo
Martina Miotto: DEM, University of Padova, http://www.ceistorvergata.it

No 585, CEIS Research Paper from Tor Vergata University, CEIS

Abstract: We study the impact of a government subsidy program in Italy targeted at R&D-intensive projects presented by high-tech startups in 2009. Using the score assigned by the scientific commission to each project, we employ a Regression Discontinuity Design to study how the subsidy affected successful firms’ innovation activity and performance over more than 10 years. We show that the subsidy led to substantial increases in intangible assets and had a lasting positive effect on various dimensions of firm performance. Innovation as measured by patents did not respond to the subsidy.

Keywords: R&D subsidies; High-tech startups; Innovation policy; Firm performance (search for similar items in EconPapers)
JEL-codes: D22 G38 L52 O31 O34 O38 (search for similar items in EconPapers)
Pages: 19 pages
Date: 2024-10-31, Revised 2024-11-12
New Economics Papers: this item is included in nep-cse, nep-ent, nep-eur, nep-ino, nep-ppm, nep-sbm and nep-tid
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Journal Article: The long-run effects of R&D subsidies on high-tech start-ups: Insights from Italy (2025)
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