Innovativeness in the economic system: the Italian experience

The innovative potential of modern economic systems has become a fundamental variable. This study examines the profitability of innovative start-ups in the Italian ecosystem, considering the period 2014–2018 period, with a focus on early stages of business. To this end, profitability dynamics are analysed in four cohorts, through statistical methods. The disaggregation into cohorts allows a better understanding of the phenomenon, considering that research has often studied innovativeness in general terms. The results show that the general profitability is characterised by increasing average values, although some fluctuating trends that confirm that in the early stages of development start-ups typically suffer from a strong nonstationary adjustment process towards a potential steady state.