Governmental venture capital for innovative young firms

Massimo Colombo, Douglas Cumming and Silvio Vismara ()

The Journal of Technology Transfer, 2016, vol. 41, issue 1, 10-24

Abstract: Governments around the world have set up governmental venture capital (GVC) funds, and are increasingly doing so, with the aims of fostering the development of a private venture capital industry and to alleviate the equity capital gap of young innovative firms. The rationale and the appropriateness of these programs is controversial. In this paper, we borrow from the recent literature on entrepreneurial finance to document the evolution and to compare the effects of the different types of governmental support. In contrast with a lack of success in some countries, there have been successful GVC initiatives, such as the Australian Innovation Investment Fund. Consequently, the proper design of the investment processes of GVC funds is an urgent topic for scholars and policy makers. Copyright Springer Science+Business Media New York 2016

Keywords: Entrepreneurial finance; Venture capital; GVC; IPOs; M&As; G30 (search for similar items in EconPapers)
Date: 2016
References: Add references at CitEc
Citations: View citations in EconPapers (97)

Downloads: (external link)
http://hdl.handle.net/10.1007/s10961-014-9380-9 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:kap:jtecht:v:41:y:2016:i:1:p:10-24

Ordering information: This journal article can be ordered from
http://www.springer. ... nt/journal/10961/PS2

DOI: 10.1007/s10961-014-9380-9

Access Statistics for this article

The Journal of Technology Transfer is currently edited by Albert N. Link, Donald S. Siegel, Barry Bozeman and Simon Mosey

More articles in The Journal of Technology Transfer from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().