The impact of public incentives on the birth of innovative start-ups

Giuseppe Albanese and Raffaello Bronzini

No 915, Questioni di Economia e Finanza (Occasional Papers) from Bank of Italy, Economic Research and International Relations Area

Abstract: We study the impact of a regional policy aimed at increasing the number of innovative start-ups in the second largest Italian region (Lazio). The programme financed the creation of innovative firms, selecting from projects presented in a call for applications open to faculty members, researchers or young graduates. When comparing recipients with similar non-recipient applicants, we find that nearly all the projects funded led to the creation of a new firm, compared with approximatively 50 per cent for non-funded applications. Subsidized firms exhibit a similar survival rate to non-subsidized firms on average but a slower growth in terms of sales, employment and assets. This difference is primarily attributable to a lower incidence of high-growth firms among subsidized projects.

Keywords: start-up; young innovative companies; start-up policies; academic spin-offs; regional policies; innovation policies (search for similar items in EconPapers)
JEL-codes: H2 L5 R0 R3 (search for similar items in EconPapers)
Date: 2025-03
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.bancaditalia.it/pubblicazioni/qef/2025-0915/QEF_915_25.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bdi:opques:qef_915_25

Access Statistics for this paper

More papers in Questioni di Economia e Finanza (Occasional Papers) from Bank of Italy, Economic Research and International Relations Area Contact information at EDIRC.
Bibliographic data for series maintained by ().