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Venture capital in Australia

  • Dominic Regan

    (Treasury, Government of Australia)

  • Gene Tunny

    (Treasury, Government of Australia)

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    Venture capital is an important vehicle for financing new and innovative high-risk ventures. While its size relative to the economy is typical for an OECD country, Australia’s total venture capital investment is relatively smaller than that of the United States. The US, however, has a number of regions or ‘clusters’ with very high levels of venture capital activity, such as Silicon Valley and Boston, which benefit from a combination of hard-to-define favourable circumstances and historical developments. While a range of economic and geographic precursors are necessary for the development of successful clusters, they do not appear to be sufficient in themselves. There appears to be no right way to develop a cluster and no magic formula.

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    Article provided by The Treasury, Australian Government in its journal Economic Roundup.

    Volume (Year): (2008)
    Issue (Month): 1 (March)
    Pages: 1-13

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    Handle: RePEc:tsy:journl:journl_tsy_er_2008_1_1
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    1. Da Rin, Marco & Nicodano, Giovanna & Sembenelli, Alessandro, 2005. "Public policy and the creation of active venture capital markets," Working Paper Series 0430, European Central Bank.
    2. Graeme Davis & Gene Tunny, 2005. "International comparisons of research and development," Economic Roundup, The Treasury, Australian Government, issue 4, pages 63-82, December.
    3. John Armour & Douglas Cumming, 2006. "The legislative road to Silicon Valley," Oxford Economic Papers, Oxford University Press, vol. 58(4), pages 596-635, October.
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