Biotech Companies in Italy: A Microeconomic Analysis

This paper studies the different kinds of business models within the biotech cluster in Italy. A balance sheet analysis of 88 biotech firms shows the main differences among them: according to the characteristics of the business model, some indexes are better than others in describing the structural characteristics of the biotech firms. As the research firms have a weak financial structure, a public policy supporting access to finance for high-tech firms is requested.