Financing R&D Projects in Southern Italy: The “Technological Vouchers and Cooperative Research” Program


  • Gianpaolo Iazzolino Department of Mechanical, Energy and Management Engineering - University of Calabria - Italy



research and development (r&d), financing r&d projects, regional development, developing areas, european policy for r&d, financial evaluation methods, southern italy.


The paper deals with the evaluation and financing of research and innovation projects. The paper analyzes and discusses the “Technological Vouchers and Cooperative Research” program in the Calabria Region (Southern Italy), as a program for financing R&D projects in a geographical area far behind in development. Three real cases of R&D projects are described. The program was effective as regards the stimulus to realizing R&D activities by Calabrian SMEs and furthermore in relation to the improvement of cooperation between SMEs, research centers, universities and technological laboratories. The weak points of the program mainly regard the evaluation phase that made it impossible to get a feedback useful for policy and for driving future agenda.


Download data is not yet available.


ALTMAN, E.I., Sabato, G. (2007). Modelling credit risk for SMEs: vidence from the U.S. Market. Abacus, 43 (3), 332-357.

ARROW, K.J. (1962). Economic Welfare and the Allocation of Resources for Invention. In: Groves, H.M. (1962). The Rate and Direction of Inventive Activity, Princenton, N.J., Princenton University Press.

CABRITA, M., Bontis, N. (2008). Intellectual capital and business performance in the Portuguese banking industry. International Journal of Technology Management, 43 (1-3), 212-237.

CAMPISI, D., Costa, R (2008). A DEA-based method to enhance Intellectual Capital management. Knowledge and Process Management, 15 (3), 170-183.

CARLSSON, S., Corvello, V., Migliarese, P. (2009). Enabling open innovation: Proposal of a framework supporting ICT and KMS implementation in web-based intermediaries. Paper presented at the 17th European Conference on Information Systems, ECIS 2009.

CARNEVALE, C., Mazzuca, M., Venturini, S. (2012). Corporate Social Reporting in European Banks: The Effects on a Firm’s Market Value. Corporate Social Responsibility and Environmental Management, 19 (3), 159-177.

COHEN, W.M., Levinthal, D.A. (1990). Absorptive Capacity: A New Perspective on Learning and Innovation. Administrative Science Quarterly, 35 (1), Special Issue: Technology, Organizations, and Innovation, 128-152.

COOKE, P., Leydesdorff, L. (2006). Regional Development in the Knowledge-Based Economy: The Construction of Advantage. Journal of Technology Transfer, 31, 5-15.

CORVELLO, V., Iazzolino, G. (2013). Factors Affecting the Practices of External Problem Solvers in Broadcast Search. Journal of Technology Management and Innovation, 8 (2), 166-177.

CORVELLO, V., Iazzolino, G., Ritrovato, V. (2013). Evaluating Technological Innovations: A Method Based on Comparable Transactions. European Journal of Economics, Finance and Administrative Sciences, Issue 56, January, 37-50.

DE CAROLIS, M., Corvello, V. (2006). Multiple competences in distributed communities of practice: The case of a community of financial advisors. Proceedings of the European Conference on Knowledge Management, ECKM, 116-125.

DIEZ, M.A. (2001). The Evaluation of Regional Innovation and Cluster Policies: Towards a Participatory Approach. European Planning Studies, 9 (7), 907-923.

ENCAOUA, D., Laisney, F., Hall, B.H., Mairesse, J. (2000). Economics and Econometrics of Innovation. Amsterdam, Kluwer.

EUROPEAN COMMISSION (2000). Presidency Conclusions: Lisbon European Council, 23 and 24 March 2000. Bruxelles.

HENDERSON, D. (2000). EU Regional Innovation Strategies. Regional experimentalism in practice? European Urban and Regional Studies, 7 (4), 347-358.

IAZZOLINO, G., Fortino, A. (2012). Credit Risk analysis and the KMV-Black and Scholes model: a proposal of correction and an empirical analysis. Investment Management and Financial Innovations, 9 (2), 167-181.

IAZZOLINO, G., Migliano, G., Gregorace, E. (2013a). Evaluating Intellectual Capital for supporting Credit Risk Assessment: an Empirical Study. Investment Management and Financial Innovations, 10 (2), 44-54.

IAZZOLINO, G., Bruni, M.E., Beraldi, P. (2013b). Using DEA and Financial Ratings for Credit Risk Evaluation: an empirical analysis. Applied Economics Letters, 20 (14), 1310-1317.

IAZZOLINO, G., Migliano, G., Forgione, R., Girimonte, M. (2013c). Capital Efficiency and Market Value in Knowledge and Capital Intensive Firms: an Empirical Study. Investment Management and Financial Innovations, 10 (2).

KYRGIAFINI, L., Sefertzi, E. (2003). Changing regional systems of innovation in Greece: The impact of Regional Innovation Strategy initiatives in peripheral areas of Europe. European Planning Studies, 11 (8), 885-910.

LAWRENCE, B.S. (2004). Levels of analysis and the qualitative study of quantitative data. Multi-Level Issues in Organizational Behaviour Processes, 3, 231-250.

LEV, B. (2001). Intangibles: Management, Measurement, and Reporting. Washington D.C., Brookings Institution Press.

MADITINOS, D., Chatzoudes, D., Tsairidis, C., Theriou, G. (2011). The impact of intellectual capital on firms’ market value and financial performance. Journal of Intellectual Capital, 12 (1), 132-151.

MARCH, J.G. (1991). Exploration and Exploitation in Organization Learning. Organization Science, 2 (1), 71-87.

MORGAN, K., Nauwelaers, C. (eds) (2003). Regional Innovation Strategies. The Challenge for Less-Favoured Regions. Routledge. London.

NARULA, R. (2004). R&D collaboration by SMEs: new opportunities and limitations in the face of globalisation. Technovation, 24, 153-161.

NELSON, R.R. (1959). The Simple Economics of Basic Scientific Research. Journal of Political Economy, LXVII (3), 297-306.

NELSON, R.R. (2003). On the Uneven Evolution of Human Know-how. Research Policy, XXXII (6), 909-922.

ORIANI, R. (2004). Innovazione tecnologica, valore economico e mercati finanziari. Il Mulino, Bologna.

SENGE, P.M. (1990). The Fifth Discipline. Doubleday Currency, New York.

TEECE, D. J., Pisano, G., Shuen, A. (1997). Dynamic Capabilities and Strategic Management. Strategic Management Journal, 18 (7), 509-533.

TODTLING, F., Trippl, M. (2005). One size fits all? Towards a differentiated regional innovation policy approach. Research Policy, 34, 1203-1219.

ZABALA-ITURRIAGAGOITIA, J.M., Jimenez-Saez, F., Castro-Martnez, E. (2008). Evaluating European Regional Innovation Strategies. European Planning Studies, 16 (8), 1145-1160.

ZACK, M.H. (1999). Developing a Knowledge Strategy. California Management Review, 16 (3), 125-145.




How to Cite

Iazzolino, G. (2013). Financing R&D Projects in Southern Italy: The “Technological Vouchers and Cooperative Research” Program. Journal of Technology Management & Innovation, 8(3), 13–24.



Research Articles