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Venture Capital Industries and Policies: Some Cross-Country Comparisons Author info | Abstract | Publisher info | Download info | Related research | Statistics Morris Teubal
Terttu Luukkonen
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ABSTRACT : The paper summarizes the findings obtained during the first year of the Venture Fun project, carried out in an EU Network of Excellence PRIME and funded from the Sixth Framework Programme. The paper defines the central concepts of the project, identifies questions for further elaboration and study, and finally provides a rough idea of the different profiles that the studied countries (Finland, Israel, France, Italy, and the UK) evidence in the organization of their VC industries. One of the conclusions of the paper is that Israel, and to a lesser extent, Finland, has succeeded in developing a specialized, independent VC industry oriented to the early phase finance and support of ICT start-ups. By contrast, though the UK has a strong Private Equity industry, it is, however, not focusing on early-stage or high tech areas. Italy and France showed a significant presence of Venture Capital and Private Equity industries (public/private organisations), but in Italy an early phase VC industry has almost disappeared after 2001. The paper further summarises factors that have influenced the development of VC industries in the studied countries.
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Paper provided by The Research Institute of the Finnish Economy in its series Discussion Papers with number
1006.
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Length: 23 pages
Date of creation: 01 Mar 2006Date of revision:
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Keywords: venture capital ; industry emergence ; start-ups ; venture capital -directed policy ; innovation policy ; Other versions of this item:
Find related papers by JEL classification: O16 - Economic Development, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment O38 - Economic Development, Technological Change, and Growth - - Technological Change - - - Government Policy
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