Interim evaluation of ADEME's "Programmes d'investissements d'avenir" grants.

Summary Launched in 2010, the Programme d'investissements d'avenir (PIA) aims to stimulate research, development and innovation activities in targeted growth-generating sectors as diverse and varied as higher education and research, the digital economy, health and sustainable development. Nearly €50 billion in funding was committed for the first two parts of the AIPs, which were renewed for the third time in June 2016 with an additional €10 billion. The PIA has thus become a major instrument in France's innovation support policy, alongside the research tax credit (CIR).As with any public aid policy in favor of companies, the question arises as to the impact of this aid on the behavior of companies as well as on their performance. Indeed, in order to judge the relevance and effectiveness of such a policy of support for companies, it is crucial to determine i) whether this aid adds to the R&D expenditure of companies while encouraging them to invest more, or whether on the contrary it replaces it; and ii) whether this aid improves the performance of beneficiary companies and to what extent it affects the performance of non-beneficiary companies. By focusing on the AIP managed by the French Environment and Energy Management Agency (ADEME), which specializes in environmental issues such as energy transition and "green" growth, the objective of this study is to evaluate ex post the effects of the grants awarded by ADEME on beneficiary companies.