BEF - BUREAU OF ENTREPRENEURIAL FINANCE

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Project “Digitization and the inclusiveness of entrepreneurial finance”

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Project “Digitization and the inclusiveness of entrepreneurial finance”

Funding agency: MIUR (The Italian Ministry of Education, University and Research)

Principal investigator: Prof. Massimo Colombo

Lead investigators for local units: Prof. Silvio Vismara

Years: 2023-2025

Amount: 228,677 Euros

This project is funded by MIUR under the PRIN program 2022 PNRR. The research project is coordinated by Politecnico di Milano (National coordinator) and involves Università di Bergamo as a local unit. It  investigates how digitization impacts the functioning of entrepreneurial finance ecosystems. It aims to understand whether, to what extent and how digitization makes entrepreneurial finance ecosystems more inclusive, facilitating access to entrepreneurial (both seed and scale-up) finance by female and ethnic entrepreneurs, and entrepreneurs located far from great metropolitan areas. It uses a field experiment (randomized control trial) to compare the investment decisions of “real” crowd and professional investors, and machine learning techniques to map the sequences of digital and traditional financial channels used by different types of entrepreneurs, and their long-term impact.