The Effectiveness of the Finnish Pre-Seed and Seed Policy Schemes to Promote Innovative High-Growth Entrepreneurial Ventures
AbstractThis report assesses the effectiveness of the supply and demand side policy initiatives in Finland targeted at pre-seed and seed stage businesses, particularly from the viewpoint of high-growth ventures. In order to obtain a yardstick by which to judge the current policy mix in Finland, this study focuses on systemic functions which these policies can be expected to fulfil to promote a viable high-growth entrepreneurial eco-system. When considering the features of major policy initiatives the study draws on analysis of venture capital policies and especially of typical failures in policy initiatives, as presented by Lerner (2009). The study assesses existing pre-seed and seed stage policy schemes and even though the present policy mix has successful elements, it also exhibits serious flaws in programme design and implementation, which may be counteractive to the achievement of the policy objectives. There is also a need to improve overall policy coordination and strategic leadership in the promotion of high-growth ventures.
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Bibliographic InfoPaper provided by The Research Institute of the Finnish Economy in its series Discussion Papers with number 1221.
Length: 25 pages
Date of creation: 2010
Date of revision:
Find related papers by JEL classification:
- G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
- O38 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Government Policy
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- Avnimelech, Gil & Teubal, Morris, 2006. "Creating venture capital industries that co-evolve with high tech: Insights from an extended industry life cycle perspective of the Israeli experience," Research Policy, Elsevier, vol. 35(10), pages 1477-1498, December.
- Gordon Murray & Ari Hyytinen & Markku Maula, 2009. "Growth Entrepreneurship and Finance," Chapters, in: The Evaluation of the Finnish National Innovation System, pages 147-202 The Research Institute of the Finnish Economy.
- Charles Edquist & Terttu Luukkonen & Markku Sotarauta, 2009. "Broad-Based Innovation Policy," Chapters, in: The Evaluation of the Finnish National Innovation System, pages 11-70 The Research Institute of the Finnish Economy.
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