The study evaluates the effect of a regional policy implemented in Lazio aimed at promoting the creation of innovative firms through the funding of projects submitted by professors, researchers and young graduates. It examines the policy's impact on the birth of innovative firms as well as the economic performance of the firms financed by the intervention.
The programme has proven effective in fostering the creation of innovative enterprises: among the projects submitted, nearly all of those that received funding resulted in start-ups, whereas only half of the unfunded projects led to firm creation. While start-ups benefiting from the incentives exhibited a survival probability comparable to that of similar enterprises, they experienced slower growth in terms of revenue, employment and total assets, due to a lower proportion of firms achieving a particularly strong performance.
