New Technology-Based Firms and Venture Capital Policy in Nigeria
AbstractThe development of high growth New Technology-Based Firms (NTBFs) in Silicon Valley, Israel, Bangalore and UK is attributed to Venture Capital. Evidence of Nigeria focused or based Venture Capital investment in new technology based firms (NTBFs) is surveyed. This study attempted defining what NTBFs is with Nigeria in context; utilizing established classification such as OECD in assessing the kinds of technology-based firms (TBFs) around. Despite the importance of NTBFs, government incentives and VC investments to grow them have been minimal in Nigeria. Using open (unstructured) questions interviews of members of the Venture Capital Association of Nigeria (VCAN) and some executives in technology-based firms, their assessment of the Nigerian business environment shows a need for policy changes to encourage an upsurge of VC investment in NTBFs. This paper relied on secondary source material. JEL Codes: G24, G28, O38, O16, O43, O55
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Bibliographic InfoArticle provided by De Boeck Université in its journal Journal of Innovation Economics.
Volume (Year): n°9 (2012)
Issue (Month): 1 ()
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Web page: http://www.cairn.info/revue-journal-of-innovation-economics.htm
New Technology Based Firms (NTBFs); venture capital; policy; development Financial Institutions (DFIs); ICT Sector; Small and Medium Equity Investment Scheme (SMEIS);
Find related papers by JEL classification:
- G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
- G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
- O38 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Government Policy
- O16 - Economic Development, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
- O43 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth
- O55 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Africa
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