Innovative milieu, micro firms and local development in Barcelona

Abstract

An entrepreneurial environment is conformed by factors that play a favourable role in the development of entrepreneurship. Economic literature on innovative milieus identifies those elements that are decisive in improving the competitive performance of companies. We analysed whether Barcelona Activa's specific environment promotes the development of an innovative milieu, which favours entrepreneurial attitudes. The results show how the combination of incubation experience, development of ICT-based innovations and cooperation considerably improve the success probability of new firms. Moreover, participation in institutional activities that strengthen commercial and social networks also improves their chances. The local agency seems to be particularly suitable for entrepreneurs with labour experience and it plays a complementary role in the framework of the wide range of university spin-off centres in the metropolitan region.