The Effectiveness of Public Venture Capital in Supporting the Investments of European Young High-Tech Companies

2012 ◽  
Author(s):  
Fabio Bertoni ◽  
Annalisa Croce ◽  
Massimiliano Guerini
Keyword(s):  
Venture Capital ◽  
High Tech ◽  
Public Venture Capital

Venture capital and high-tech start-ups

2010 ◽  
Vol 12 (4) ◽  
pp. 261-266 ◽  
Author(s):  
Massimo G. Colombo ◽  
Terttu Luukkonen ◽  
Philippe Mustar ◽  
Mike Wright
Keyword(s):  
Venture Capital ◽  
High Tech ◽  
Start Ups

scholarly journals The Silicon Valley Syndrome

2019 ◽  
Author(s):  
Olav Sorenson ◽  
Doris Kwon
Keyword(s):  
Income Inequality ◽  
Venture Capital ◽  
Silicon Valley ◽  
High Tech ◽  
High Tech Sector ◽  
Tradable Sector

How does expansion in the high-tech sector influence the broader economy of a region? We demonstrate that an infusion of venture capital in a region appears associated with: (i) a decline in entrepreneurship, employment, and average incomes in other industries in the tradable sector; (ii) an increase in entrepreneurship and employment in the non-tradable sector; and (iii) an increase in income inequality in the non-tradable sector. An expansion in the high-tech sector therefore appears to lead to a less diverse tradable sector and to increasing inequality in the region.

scholarly journals Public Venture Capital in a Regional Economy: The Welsh Development Agency, 1976–1994

2019 ◽  
Vol 20 (4) ◽  
pp. 978-1006 ◽  
Author(s):  
LEON GOOBERMAN ◽  
TREVOR BOYNS
Keyword(s):  
Venture Capital ◽  
Financial Performance ◽  
Market Failure ◽  
Regional Economy ◽  
Commercial Activity ◽  
Development Agency ◽  
Equity Investments ◽  
The Uk ◽  
Public Venture Capital

Between 1976 and 1994 the UK Government’s Welsh Development Agency made 2,304 loan and equity investments totaling £117.8 million. The agency aimed to address difficulties faced by firms in obtaining finance, and such intervention was justified by the market failure and spillover hypotheses. This article assesses the agency’s investment activities against both justifications. It finds that while some investments succeeded, the portfolio’s financial performance was poor, and the agency did not address widespread market failure. Evidence of spillover returns existed, but cannot be quantified accurately across the portfolio. The article argues that the agency’s two venture capital objectives, to assemble a profitable portfolio and to grow employment levels through boosting commercial activity, were incompatible within a poorly performing regional economy. Although spillovers can justify public venture capital in such economies, expectations as to financial performance should be realistic in the absence of an ecosystem that facilitates demand for capital.

Taiwan's Experience in Switching Its Engines of Growth

2002 ◽  
Vol 1 (3) ◽  
pp. 1-23 ◽  
Author(s):  
Sheng-Cheng Hu ◽  
Vei-Lin Chan
Keyword(s):  
Human Capital ◽  
Research And Development ◽  
Venture Capital ◽  
Communication Technology ◽  
Financial Liberalization ◽  
Information Communication Technology ◽  
Computer Hardware ◽  
High Tech ◽  
Information Communication ◽  
Capital Intensive

Taiwan became a leading worldwide manufacturer of computer hardware in the 1990s. The purpose of this paper is to review the process that led to the birth and growth of Taiwan's information-communication technology (ICT) industries. We further discuss such factors as research and development, high-tech human capital, venture capital, financial liberalization, and telecommunications liberalization, which have contributed to the success of the ICT industries and the shift in the economy from labor-intensive to capital-intensive and technology-intensive production.

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