Please see the Guidelines for thesis to express your interest for a thesis opportunity.

Innovation in the life science sector

Innovation is the engine of growth but how does innovation unfold within firms and industries? Innovation often goes hand in hand with technological and demand uncertainty and typically recombines diverse knowledge domains and knowledge bases both of larger and small or young firms.

This project aims to investigate firms’ innovation strategies in the life science sector that best describe innovative activities’ challenges and opportunities. Bringing new drugs to market is in fact a long journey for firms operating in this industry, typically 8 to 10 years. There is therefore a high technological and demand uncertainty, with extensive costs, and risks that complicate even further the chances of translating R&D projects into commercialized drugs. Typically, only 22% of compounds that are tested in clinical trials conclude with a successful market launch (DiMasi et al., 2003) with enormous investments in the late clinical trials phases. On top of this, complementary assets play a key role in this industry, as shown by the recent race for the Covid-19 vaccines. Several heterogeneous parties (e.g., pharmaceutical firms, small biotech startups, and research centers) engage in inter-organizational collaborations through alliances and M&A, which are expected to reach a collective value of more than 200US$ billion in 2023 (Pwc forecasts). The sector is also characterized by strong appropriability regimes that push firms to invest in R&D with blockbuster drugs generating annual sales of more than 1$ billion (e.g., Lecanemab by Biogen and Eisai for Alzheimer). This sector, therefore, enables us to unfold intriguing competitive and collaborative dynamics in pursuing innovation activities among individuals, firms, markets, and institutions.

Students can rely on this empirical context to answer several intriguing research questions. To name a few:

  • Which type of players (e.g., biotech startups, incumbent firms, universities) jump into a race for developing products into highly promising research trajectories?
  • What is the knowledge base of investing firms in a new market? In which market segment do they try to enter? What occurs to possible non-entrants?
  • What are possible factors affecting the firms’ investment timing in new product-markets? And what are possible consequences?
  • What factors affect firms’ decision to rely on external sources (complementary assets and other resource sourcing through alliances or acquisition) versus going solo in developing and/or manufacturing new products?
  • At which stage of the process do firms undertake collaborative agreements (e.g., alliances, joint ventures), and with whom?
  • What are the effects of M&A on scientists and inventors?
  • What are the possible roles of research centers in establishing industry-science collaboration?
  • …..

It is possible to rely on patent, publication, and project-level data to answer these questions. In particular, each firm owns a portfolio of patents – which provides rich information about the technologies these companies work on, the inventors and the countries where the invention is protected. Moreover, it is possible to leverage project-level data tracing over time the development of the product from the early phases to its commercialization, something that is very challenging to do in other industries. Publication data enrich even further the picture since typically scientists tend to publish the results of their research.

The student(s) interested in this project will:

  • Get familiar with the main innovation trends in the life science industry
  • Revise and advance the existing literature on firms’ innovation strategies in this industry
  • Draw from secondary sources to develop a tailor-made database. Students will trace the strategic actions taken by pharmaceutical firms by having the possibility to rely on different data sources together or focusing on one of these sources (e.g., publication data, patent data, and project data from clinical trials)
  • Use statistical and econometric techniques to investigate this topic through descriptives and basic econometric analysis

Supervisor: Daniela Silvestri

Co-supervisors: Fabio Busicchia

European Support Schemes and high-tech SMEs’ development: an empirical comparison with Venture Capital initiatives

European Support Schemes and high-tech SMEs’ development: an empirical comparison with Venture Capital initiatives


High-tech SMEs often suffer from limited resources and legitimacy, while fore-fronting fundamental
uncertainty about the outcome of their innovative activities. Entrepreneurs and their backers therefore
seek ways to either become successfully viable and/or cash-out on their efforts.
Sponsoring organizations, either public or private (e.g., Venture Capital), for-profit or not-for-profit
(e.g., accelerators), can play an essential role in shaping the evolutive patterns of high-tech SMEs.
First, they can improve their bargaining power. Second, they provide new resources or can marshal
additional ones. Finally, sponsoring organizations lend SMEs a certification of quality, which lessens
the effect of information asymmetry for potential acquirers. Therefore, the backing from sponsorship
organization like VCs may play a crucial role in mitigating the hurdles high-tech SMEs face in M&A
markets, for example by improving their valuations or avoiding forced premature sales.
This project aims to empirically investigate the effect of sponsorship from various organizations on
the Italian SMEs’ likelihood of successfully exiting via M&A or IPO. Various forms of sponsorship
are considered, based on the types of organization, the extent and nature of the support provided, and
certification effect.
The student(s) interested in this thesis project will:
• Review the literature on Venture Capital financing and supporting schemes. Explore the
main features of Italian VC organizations, such as their categorization, main trends, and
potential differences relative to the EU markets;
• Contribute to the data collection efforts of an ongoing project, using sources like for
example Lexis Nexis or Crunchbase;
• Use statistical and/or econometric techniques to study the impact of VC
certification/sponsorship role. Prior knowledge is not required.


Type of thesis: Both with and without discussant; joint theses are also available.


Thesis abroad may eventually be organized at the University of Sheffield (this is not a mandatory
activity and it is subject to the availability of the university abroad to host master thesis students.
Eventually refer to the call for the “thesis abroad” in the polimi online service).


Supervisors: Daniela Silvestri, Alessandro Lucini Paioni

How incumbent organizations enter in a nascent industry through platform-based servitization and business model innovation
Incumbent organizations operating in the traditional space industry are sensing new market opportunities in the nascent industry of space economy. The space economy is the commercial extension and the evolution of the traditional (government-based) space industry, which leverages on a combination of space and digital technologies to provide several services for public institutions, and private organizations. To enter such nascent industry, incumbent organizations need to embrace a change at strategic level, moving from offering new products to creating and offering new platform-based services. Despite the relevance and urgency of the problem, few studies investigate how incumbent organization should organize and evolve, what are the successful practices, processes, and decision-making activities to make innovation happen.
Full Thesis
Supervisor: Prof. Angelo Cavallo

Thesis opportunities within the Drones and Advanced Air Mobility Observatory

Starting from February 2025, thesis opportunities will be available within the Drones and Advanced Air Mobility Observatory (Osservatorio Droni e Mobilità Aerea Avanzata):
https://www.osservatori.net/it/ricerche/osservatori-attivi/droni-e-mobilita-aerea-avanzata

These theses will be practice-oriented. The student(s) will work together with a university supervisor, the Observatory, and the companies linked to it. Some examples of currently investigated topics are:
• Analysis of the Italian market
• Firm growth
• Sustainability
• Applications and adoption of drone technologies in different sectors

Theses can be both quantitative and qualitative, analysing either database, case-studies, or interviews. Different thesis formats can be accommodated.

For further information please contact Prof. Alessandro Lucini Paioni (alessandro.lucini@polimi.it).

Gender and inventions: European evidence from a comparison between fields stereotypically associated with men and women

Gender in science matters: many scholars studied this field and observed women are typically disadvantaged, observing that gender affects innovation too. The student should review the literature on gender and innovation, specifically about patent activity. We suggest reviewing the literature by executing a systematic literature review. Our proposal aims to investigate whether gender affects men and women differently (or equally) in fields associated with their gender stereotypes. Moreover, to empirically investigate this issue, we propose to use the European Patent Office; the data are public and available online at https://www.epo.org/en. By the International Patent Classification (IPC), we will choose two or more fields to compare. For instance, the student can compare the field of computing, stereotypically associated with men, to the field of cosmetics, stereotypically associated with women [Computing; calculating or counting – Section G – class 06 – subclass Q; Specific use of cosmetics or similar toiletry preparations – Section A – class 61 – subclass Q].

If you are interested in this thesis proposal, please email Omar Mazzucchelli [omar.mazzucchelli@polimi.it], cc Cristina Rossi-Lamastra [cristina1.rossi@polimi.it], and Daniela Silvestri [daniela.silvestri@polimi.it].

Patenting activity in a given technological area

The student(s) are encouraged to choose a technological area that is undergoing intense development (e.g., generative AI, messengerRNA, battery recycling..) and run a patent search and analysis aimed at identifying general patterns, such as temporal trends, types of assignees involved, geographic distribution, characteristics of the inventor teams. It is mandatory that i) the students have taken or are about to take the course in Patents and Intellectual Property Management and that they have (or at least one of them has) a reasonably good knowledge about the technological area that they aim to investigate.
The topic is ideal for short theses.
Long (research) theses require a more elaborate work of hypotheses construction and testing. Students that have research curiosities or ideas are free to propose them to the professor.

Interested students, please email Chiara Franzoni [chiara.franzoni@polimi.it], and Andola Stanaj [andola.stanaj@polimi.it].

Report on the Participation of Women in European Energy Efficiency Projects in the Building Sector: Analysis and Perspectives for Improvement

The topic of energy efficiency has become of public and political interest in recent years, especially in the context of the transition to a sustainable, low-carbon economy. In this context, the building sector has become the most significant focus, given its high energy consumption and opportunities for improvement through technical innovations and sustainable practices.
However, despite the importance of a rapid evolution towards greener energy practices, one aspect that is often overlooked is gender representation and participation in building and energy efficiency contexts. An analysis of women’s participation in energy reveals not only an issue of gender equality, but also a key opportunity to ensure more inclusive and effective policies.
When we thinks “women”, we rarely associates them with construction or energy. These contexts have always been male-dominated. There are significant barriers that limit their participation, including gender stereotypes, lack of access to professional networks and training opportunities in these areas, often mistaken as a lack of personal predisposition.
But women, even those who take an interest in the sector and succeed in it, are often underrepresented in strategic decisions and technical careers, despite the high skills and bright prospects that can enrich innovation and project effectiveness.
This report aims to provide a comprehensive analysis of the current situation of women’s participation in European projects dedicated to energy efficiency in the building sector by examining data and statistics in this field. Through the use of primary sources, such as Cordis and the reports of the European Institute for Gender Equality, it aims not only to highlight the current state of gender equality in European initiatives, but also to identify specific areas in need of improvement and targeted interventions.
In short, addressing the issue of women’s participation in energy efficiency projects is not only an ethical imperative, but also a key strategy to improve the effectiveness and sustainability of European energy policies, contributing to a more just and prosperous global approach.

Conduct a systematic review of data on women’s participation in European energy efficiency projects, collecting information from primary sources such as Cordis.
Analysing barriers limiting women’s participation in this sector, including cultural, structural and access to resources factors.
Formulate practical recommendations to improve the inclusion of women, identifying best practices from successful projects and how these can be replicated in other contexts.

Methodology:
• Collection and analysis of quantitative and qualitative data from primary sources.
• Interviews
• Workshops and focus groups to gather feedback and perspectives from professionals active in the field

Interested students, please email Valeria Giannella [valeriaamata.giannella@polimi.it].

Exploring the role of PI gender and characteristics on new product development

This thesis proposal investigates the issue of gender gap on new product development in the bio and pharmaceutical industry.
While women’s representation in medicine and STEM fields is growing, gender inequality persists. This proposal aims to better understand the source and impact of the gender inequality looking at the role of gender and other characteristics of the PIs (specialization, generalist, stereotypes) on new developed drugs using data from clinical trials. Clinical trials are essential for healthcare innovation, as they transform scientific discoveries into new technologies and products. However, a high number of trials still fail during the transition from first human testing to market approval.
This research will analyze the influence of the principal investigator’s (PI) gender and his/her characteristics on the performance and characteristics of clinical trials (e.g., success, failure, costs, advancement to the next phase).
It is expected that the student(s) interested in undertaking this research to collect, clean, and integrate clinical trial data and later create indicators for clinical trials performances. In particular, using data from over 8,000 trials available to the research team, this proposal aims to:
• Conduct empirical and quantitative analyses on PI gender and CT outcomes. To this aim a first task is to collect the name of the PI in order to infer the gender through the use of algorithms available online
• Examine characteristics of trials led by women, including costs, risk level, and reward focus
• Analyze and interpret the results based on ad-hoc theories
• Possibly extend the dataset on clinical trials using patents and publications which can help in the identification of novel scientific discoveries and inventions
Some initial readings and information:
• http://journal.openarchivescholar.com/id/eprint/22/1/IJCM_2014122915372964.pdf
• www.clinicaltrials.gov
• Patent families: When do different definitions really matter?
• Wang et al., 2020 JI – Gender biases in patenting process
• Koning et al 2021 Science – Who do we invent for? Patents by women focus more on women’s health, but few women get to invent

If interested contact stefania.manetti@polimi.it (cc daniela.silvestri@polimi.it). Before contacting the lecture, fill in the form available at: https://forms.gle/P3eRwzeDB7JVBfpq7

Supervisors: Stefania Manetti, Cristina R.
Co-supervisor: Daniela Silvestri