Entrepreneurial governance and performance: evidence from Italian innovative startups

Innovative start-ups play a crucial role in fostering innovation and driving economic growth while enhancing technological competitiveness. This study analyzes the factors affecting the financial performance of Italian Innovative start-ups, with a focus on governance aspects and corporate resources, particularly team composition, company size, and the impact of gender diversity. It also investigates how sector and geographic location may influence access to resources, often linked to public policies and local innovation ecosystems. Using the AIDA—Bureau van Dijk database, we studied a sample of 5,669 innovative start-ups across Italy. Through OLS regression models, the article reveals how regional context and policies can serve as either a competitive advantage or a barrier for firms. The findings indicate a positive effect of female leadership on business growth in terms of profitability and sustainability, suggesting that diverse governance and locations within developed entrepreneurial ecosystems can significantly enhance business performance. These insights are valuable for policymakers and entrepreneurs, contributing to a deeper understanding of the economic dynamics of innovative start-ups in Italy. To our knowledge, this is the first attempt to examine regional differences in the performance of Italian start-ups by including all Italian regions.