Advanced Search
MyIDEAS: Login to save this article or follow this journal

Création et financement des entreprises technologiques : les leçons du modèle israélien

Contents:

Author Info

  • Carpentier, Cécile

    (École de comptabilité)

  • Suret, Jean-Marc

    (École de comptabilité)

Registered author(s):

    Abstract

    In just several years, Israel developed a strong venture capital industry that places it among the top countries in terms of capital-GDP ratio. The strategy of the Israeli government was twofold. First, the government strongly stimulated the demand for venture capital, using R&D grants, technology incubators, close working relationships with universities and academic programs for high tech managers. Second, the Israeli government used hybrid funds to facilitate the emergence, in ten years, of an entire venture capital industry. Government intervention in the supply of capital was short-lived, but efficient. Israel’s venture capital industry is now self sufficient and able to attract private and foreign funds. The Israeli model differs in many ways from various initiatives implemented in other countries. The study of this model can provide important insights for the revision of Quebec’s policies and institutions. Israël a développé, en quelques années, une industrie du capital de risque qui place ce pays parmi les premiers en termes de capital rapporté au produit intérieur brut. La stratégie d’intervention du gouvernement israélien ne se limite pas à l’offre de capital : axée vers la recherche, elle favorise la création d’entreprises technologiques. Elle comprend la mise en place d’incubateurs fortement arrimés aux universités et de programmes de formation de gestionnaires d’entreprises technologiques. L’octroi de subventions liées à des redevances est préféré aux mesures fiscales. Une action forte a donc été menée pour stimuler la demande de capital de risque. L’implication du gouvernement dans l’offre de capital a été temporaire, mais efficace. Au moyen de fonds mixtes, elle a permis, en 10 ans, le démarrage d’une industrie autonome, capable d’attirer des financements privés locaux et étrangers importants. Sous plusieurs aspects, le modèle israélien de développement du capital de risque diffère très largement de plusieurs initiatives d’autres juridictions. Son étude devrait guider la réflexion qui doit entourer la révision des programmes et organismes québécois.

    Download Info

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
    File URL: http://id.erudit.org/iderudit/014921ar
    Download Restriction: no

    Bibliographic Info

    Article provided by Société Canadienne de Science Economique in its journal L'Actualité économique.

    Volume (Year): 82 (2006)
    Issue (Month): 3 (septembre)
    Pages: 419-438

    as in new window
    Handle: RePEc:ris:actuec:v:82:y:2006:i:3:p:419-438

    Contact details of provider:
    Email:
    Web page: http://www.scse.ca/
    More information through EDIRC

    Related research

    Keywords:

    References

    References listed on IDEAS
    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
    as in new window
    1. Mayer, Colin & Schoors, Koen & Yafeh, Yishay, 2002. "Sources of Funds and Investment Activities of Venture Capital Funds: Evidence from Germany, Israel, Japan and the UK," CEPR Discussion Papers 3340, C.E.P.R. Discussion Papers.
    2. Manuel Trajtenberg, 2000. "R&D Policy in Israel: An Overview and Reassessment," NBER Working Papers 7930, National Bureau of Economic Research, Inc.
    3. Eckstein, Z. & Weiss, Y., 1999. "The Integration of Immigrants from the Former Soviet Union in the Israeli Labor Market," Papers 33-99, Tel Aviv.
    4. Cumming, Douglas J. & MacIntosh, Jeffrey G., 2006. "Crowding out private equity: Canadian evidence," Journal of Business Venturing, Elsevier, vol. 21(5), pages 569-609, September.
    Full references (including those not matched with items on IDEAS)

    Citations

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:ris:actuec:v:82:y:2006:i:3:p:419-438. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Bruce Shearer).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.