This paper seeks to investigate the existence and importance of collective intelligence to reduce information frictions by informing potential early-stage investors about venture quality. My context is an online platform where the community score projects, offering new insights into how the...

This paper seeks to estimate the effect of a European policy that subsidizes innovation investments. By carefully selecting observables, we compare recipients of the program with non-recipient firms to overcome the endogeneity of R&D grants. We conduct a difference-in-differences design on the...