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Small Business Economics

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01.08.2016

The impact of local knowledge bases on the creation of innovative start-ups in Italy

verfasst von: Alessandra Colombelli

Erschienen in: Small Business Economics | Ausgabe 2/2016

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Abstract

This paper aimed at investigating the relationship between the features of local knowledge bases and the creation of innovative start-ups in Italy. The knowledge spillover theory of entrepreneurship has here been combined with the recombinant knowledge hypothesis in order to derive a theoretical framework that could emphasize the heterogeneous nature of knowledge and identify some key dimensions. The empirical analysis has been focused on the patterns of new firm formation in Italian NUTS 3 regions using data on the creation of innovative start-ups that have followed the implementation of a new Italian regulation. The results of the analysis confirm that not only does the size of the knowledge stock play a key role in shaping the creation of innovative start-ups, but also the characteristics of such knowledge, in terms of variety and similarity.

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By high qualified members, the Law intends all the individuals that either hold a PhD or are PhD candidates at an Italian or foreign university or have conducted research over at least three years. Alternatively, two thirds of the total workforce must hold a Master’s degree.

The actual number of Italian provinces is 110. The Italian NUTS 3 classification changed in the 2005–2009 period, when seven new regions were added. Owing to the lack of information on these new provinces for the whole period covered by the analysis, the sample has been restricted to 103 geographical units. It is worth noting that the total number of innovative start-ups created in the seven new provinces in the aforementioned period is 18 (1 % of the total sample).

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Other works on the same topic use weighted measures of new firms as dependent variables in order to account for variations in the regional size. The number of new firms is generally weighted using the stock of existing firms or the regional workforce. However, weighting the net number of new firms may engender some biases due, for example, to overrepresentation, above all in less developed areas (like Southern Italy). However, it cannot be denied that local markets are not homogenous with respect to size. For this reason, as specified below, a measure of regional size has been introduced among the control variables.

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Titel: The impact of local knowledge bases on the creation of innovative start-ups in Italy
verfasst von: Alessandra Colombelli
Publikationsdatum: 01.08.2016
Verlag: Springer US
Erschienen in: Small Business Economics / Ausgabe 2/2016
Print ISSN: 0921-898X
Elektronische ISSN: 1573-0913
DOI: https://doi.org/10.1007/s11187-016-9722-0

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