Not sure if they still do this, but China had a very interesting methodology for encouraging new businesses.
They have incubation parks, where a new electronics business can live rent-free and have much of the support network provided. For instance, with semiconductor design, one of the biggest costs is licensing of software. This can be 10s of millions a year for even a small group. The goverment becomes a bigger purchaser so can negotiate better pricing.
Once the companies hit a given profitability target, they have to move out of the incubator and support themselves.
At least this is how it was described to me.
I think it is a brilliant idea.
By contrast, the US hands that money over to huge corporations that are already making record profits. Because they of course hand back funds to the politicians that make that happen. very non-brilliant and short sighted