Translated title of the contribution: [Autom. eng. transl.] BANKABILITY OF START-UPS

Research output: Contribution to journalArticlepeer-review


[Autom. eng. transl.] In the early years of their life, start-ups are typically debt-free, unable to generate positive cash flows or grant adequate guarantees. The capital raised is therefore attributable to equity, which represents the cash reservoir that allows start-ups to survive until they accrue a surplus of liquidity. When a start-up reaches its maturity and financial break-even, thanks also to the bridging finance of specialized intermediaries (venture capital, private equity, subsidized finance) it can begin to get into debt. This represents an important milestone, reserved for scale-ups that survive the Darwinian selection, crossing the "valley of death" (which involves the elimination of liquidity and equity).
Translated title of the contribution[Autom. eng. transl.] BANKABILITY OF START-UPS
Original languageItalian
Pages (from-to)72-80
Number of pages9
Publication statusPublished - 2021


  • market traction
  • patrimonio netto monetario


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