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In theory, public financing aimed at encouraging business innovation is justified, but in practice controversy exists over the evaluation of impacts derived from the use of these resources. The aim of this paper is to analyze the additionality generated by micro- and small enterprises benefiting from public financing for innovation. For this purpose, a questionnaire was applied, and a descriptive analysis of the input additionality, performance and results variables was made. The conclusions show that in half of the sample there is evidence of additionality in funding, whose more visible result is the generation of new products and processes, and the effects on performance are the most significant. Although the sample size and the type of analysis limit the generalization of findings, the evidence presented here of the impact of public financing on innovation in developing economies is relevant because of the scarcity of papers on the subject.

Efectos del financiamiento público a la innovación: perspectiva microeconómica a partir de un estudio en pequeñas empresas