This document analyzes the impact it has on the creation of new companies, private investment in R & D and the costs of opening companies as a proxy variable of the institutional framework. Information corresponding to the 32 states of Mexico is integrated during the years of 2009 and 2014, allowing the estimation of crosssection regressions and merged data through a robust estimation method. The results suggest that both variables are relevant to explain the entrepreneurial activities that result in the creation of companies, however, it is determined that opening costs have a greater impact than investment in R & D according to the magnitude of the estimated elasticities.