The Diversity and Inclusivity of Lombardy’s Entrepreneurial Ecosystem, using a Bottom-up Founder-Level Empirical Analysis

This report provides a founder-level empirical analysis of Lombardy’s entrepreneurial ecosystem, assessing its diversity, inclusivity, and structural composition. Using archival data from the Lombardy Chamber of Commerce, Crunchbase, and LinkedIn, the study examines founder characteristics, funding access, and institutional affiliations. The key findings reveal that male and youth founders dominate the ecosystem, while female and foreign founders remain underrepresented, facing longer funding delays and weaker institutional support. Youth founders benefit from strong accelerator and incubator affiliations, whereas foreign founders struggle to integrate into local networks. Despite challenges, foreign-led startups outperform in revenue generation, indicating untapped potential. The report underscores the need for inclusive policies, expanded funding mechanisms, and stronger institutional networks to foster a more equitable and high-growth entrepreneurial environment in Lombardy.