IDEAS home Printed from https://ideas.repec.org/a/taf/veecee/v3y2001i2p151-168.html
   My bibliography  Save this article

Early stage financing of NTBFs: An analysis of contributions from support actors

Author

Listed:
  • Goran Lindstrom
  • Christer Olofsson

Abstract

This paper is based on a survey of 150 firms about the main problems faced in the early stages by NTBFs with different roots, and the contributions of different actors in the early development of technology-based firms. In the analysis the different generic problems of the young firms are put in relation to contributions not only in terms of finance but also in terms of their support in finding the market niche and developing an early product concept into market-viable applications. Our analysis shows that firms in the technology forefront experience greater problems in fundraising as compared to firms of lesser technological sophistication. The same holds for high-growth firms as opposed to low-growth firms. The typical high growth firm operates in an environment characterized by new technology and an emerging market. This implies extreme levels of uncertainty and may explain the greater difficulties these firms experience in financing, especially in the early stages of development. Moreover, firms with the highest levels of technology more often originate from university or research related environments than firms with less novel technology. The analysis also shows that in all (problem) dimensions, business angels are considered to be the most important actor group by the firms in the study. It also turns out that the most growth-oriented firms are the ones most favoured by business angels and venture capital.

Suggested Citation

  • Goran Lindstrom & Christer Olofsson, 2001. "Early stage financing of NTBFs: An analysis of contributions from support actors," Venture Capital, Taylor & Francis Journals, vol. 3(2), pages 151-168, April.
    • Handle: RePEc:taf:veecee:v:3:y:2001:i:2:p:151-168
    DOI: 10.1080/13691060110042754
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/13691060110042754
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/13691060110042754?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Thanh Huynh, 2016. "Early-stage fundraising of university spin-offs: a study through demand-site perspectives," Venture Capital, Taylor & Francis Journals, vol. 18(4), pages 345-367, October.
    2. Dafna Schwartz & Raphael Bar-El, 2006. "Venture Investments in Israel - A Regional Perspective Dafna Schwartz and Raphael Bar-El Ben-Gurion University, School of Management, Israel," ERSA conference papers ersa06p868, European Regional Science Association.
    3. Fernández-López, Sara & Rodríguez-Gulías, María Jesús & Dios-Vicente, Adrián & Rodeiro-Pazos, David, 2020. "Individual and joint effect of patenting and exporting on the university spin-offs’ survival," Technology in Society, Elsevier, vol. 62(C).
    4. Colin Mason & Richard Harrison, 2003. "Closing the Regional Equity Gap? A Critique of the Department of Trade and Industry's Regional Venture Capital Funds Initiative," Regional Studies, Taylor & Francis Journals, vol. 37(8), pages 855-868.
    5. repec:wsi:acsxxx:v:21:y:2019:i:08:n:s1363919619500105 is not listed on IDEAS
    6. Sara Fernández‐López & David Rodeiro‐Pazos & María Jesús Rodríguez‐Gulías & Manuel Anxo Nogueira‐Moreiras, 2022. "Sustainable university entrepreneurship: Revisiting firm growth patterns," Business Strategy and the Environment, Wiley Blackwell, vol. 31(4), pages 1334-1346, May.
    7. Petra Moog & Christian Soost, 2022. "Does team diversity really matter? The connection between networks, access to financial resources, and performance in the context of university spin-offs," Small Business Economics, Springer, vol. 58(1), pages 323-351, January.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:veecee:v:3:y:2001:i:2:p:151-168. See general information about how to correct material in RePEc.

    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.

    We have no bibliographic references for this item. You can help adding them by using 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/TVEC20 .

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

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.