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Government policy on venture capital support in France

Author

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  • Emmanuelle Dubocage
  • Dorothée Rivaud-Danset

Abstract

After a difficult beginning, a series of fiscal and legislative measures is helping to encourage venture capital investment and the appearance of new and innovative enterprises. A feature of the French venture capital world is the key role played by public bodies. These are multi-role organizations seeking to connect up the core players. The key factors for success can be described as a concern that all the stages in financing innovative new companies should join up smoothly, and action by public bodies generating the leverage effects. This present paper aims to show that leverage is not only a financial mechanism just as gap between venture capital and entrepreneur is not simply a financial phenomenon. The public policy can be qualified as an effective one. However, it does have negative side-effects such as escalating demands from investors and a complicated system in France. Analysis of public practices highlights problems which are not specific to France. The lack of skills favours long-established investment teams and a trend towards 'megafunds' and 'megaprojects'.

Suggested Citation

  • Emmanuelle Dubocage & Dorothée Rivaud-Danset, 2002. "Government policy on venture capital support in France," Venture Capital, Taylor & Francis Journals, vol. 4(1), pages 25-43, January.
    • Handle: RePEc:taf:veecee:v:4:y:2002:i:1:p:25-43
    DOI: 10.1080/13691060110091237
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    Citations

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    Cited by:

    1. Motavaseli Mahmood & Shojaei Saeed & Bitaab Ali & Hasti Chitsazan & Ghanbar Mohammadi Elyasi, 2018. "Institutional Barriers to Financing Technology-based Small Firms through Venture Capital Mechanism: A Study to Explore the Incentives for Investment in Iran," International Journal of Economics and Financial Issues, Econjournals, vol. 8(1), pages 184-195.
    2. Valérie Revest & Alessandro Sapio, 2012. "Financing technology-based small firms in Europe: what do we know?," Small Business Economics, Springer, vol. 39(1), pages 179-205, July.
    3. Iman Seoudi, 2015. "Public Policy For Venture Capital: An Integrated Framework," Global Journal of Business Research, The Institute for Business and Finance Research, vol. 9(4), pages 31-51.
    4. Jonathan Labbé, 2020. "Study of the relations between public and private capital-investors in France: a qualitative approach [Étude des relations entre capital-investisseurs publics et privés en France : une approche qua," Post-Print hal-03000096, HAL.
    5. Sam B.A. Tende, 2014. "Government Initiatives Toward Entrepreneurship Development In Nigeria," Global Journal of Business Research, The Institute for Business and Finance Research, vol. 8(1), pages 109-120.
    6. David Mcglue, 2002. "The funding of venture capital in Europe: Issues for public policy," Venture Capital, Taylor & Francis Journals, vol. 4(1), pages 45-58, January.
    7. Jonathan Labbe, 2021. "Study of The Relationship Between Public and Private Venture Capitalists in France: A Qualitative Approach," Post-Print hal-03381477, HAL.
    8. David Citron & Robert Cressy & Xavier Gerard, 2008. "Prospectus forecast publication and forecast errors: the role of venture capitalist certification," Venture Capital, Taylor & Francis Journals, vol. 11(2), pages 87-105, August.
    9. Jonathan Labbe, 2021. "Study of The Relationship Between Public and Private Venture Capitalists in France: A Qualitative Approach," Papers 2110.09098, arXiv.org.

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