The Creation of High-Tech Entrepreneurial Ventures at the Local Level: The Role of Local Competences and Communication Infrastructures

This paper sheds light on the role of human capital for the creation of New Technology-Based Firms (NTBFs) in a geographical area. We relate NTBF creation to the local availability of human capital (local competences) and to the local accessibility of distant competences through communication infrastructures. We argue that local competences and communication infrastructures have a differential impact on NTBF creation in manufacturing and service industries due to the diverse productive characteristics of the sectors. In particular, we claim that local competences have a more positive effect on manufacturing, whereas communication infrastructures affect services more. Findings from the estimations of econometric models on the Italian provinces are in line with these predictions. The moderating effects of local economic and technological development on the inquired relationships are also considered. Whereas economic development seems to weaken the effect of local competences in manufacturing and reinforce that of communication infrastructures in services, technological development has no moderating effects.