Artificial intelligence (AI) startups play a crucial role in technological and economic development, yet their financing mechanisms remain underexplored. This study examines the funding of AI startups, analyzing a dataset of 9,000 Italian innovative startups, including 588 AI-focused ventures. Results indicate that AI startups present better financial conditions than their peers, specifically greater liquidity ratio, solvency ratio, current ratio and interest coverage. Further analyses highlight the factors that may influence investment decisions, such as skilled employees, R&D intensity and a management team characterized by a greater presence of young people and a lower presence of women and foreigners.
Artificial Intelligence startups and financial conditions: Evidence from Italy
Giaretta E.
;Zen F.
2026
Abstract
Artificial intelligence (AI) startups play a crucial role in technological and economic development, yet their financing mechanisms remain underexplored. This study examines the funding of AI startups, analyzing a dataset of 9,000 Italian innovative startups, including 588 AI-focused ventures. Results indicate that AI startups present better financial conditions than their peers, specifically greater liquidity ratio, solvency ratio, current ratio and interest coverage. Further analyses highlight the factors that may influence investment decisions, such as skilled employees, R&D intensity and a management team characterized by a greater presence of young people and a lower presence of women and foreigners.
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