The Bank of Italy has published a study of the human capital behind projects submitted to three Milano Hub calls for proposals covering artificial intelligence, distributed ledger technology and digital payments. Based on 97 project observations, the study finds that applicants were generally experienced professionals, with average ages ranging from 44 to 52 depending on their role. Science, technology, engineering and mathematics (STEM) education and professional experience were positively associated with project evaluation scores, although the analysis does not establish causation. The applicant pool also showed a substantial gender imbalance, with women accounting for 15% of individuals, and a concentration of economics and STEM backgrounds. STEM qualifications were consistently associated with higher scores, while the analysis found no statistically significant link for economics qualifications. The limited number of projects with female representatives prevented an assessment of gender's relationship with evaluation outcomes. The paper proposes reviewing Milano Hub's operating model to attract a more diverse range of applicants. Options include greater flexibility over projects' development stage and practicability assessment, dedicated diversity initiatives and collaborations with universities to support student-led fintech projects and startups.
Bank of Italy publishes study linking experience and STEM education to stronger Milano Hub project scores
A Bank of Italy study finds that experience and STEM education were positively associated with evaluation scores for projects submitted to Milano Hub's first three calls for proposals. Applicants were predominantly experienced professionals, while women represented only 15% of individuals. The paper suggests changes to attract projects at different development stages and a more diverse applicant pool.