During the growth phase of every venture capita (VC) business cycle, it seems as though both local and national governments in various countries initiate policies aimed at establishing VC industries as part of a high-technology economic development strategy. It is remarkable how each time there...

The paper argues that existing turbulent environments and Radical Uncertainty compell policy makers to be adaptive (Metcalfe 1995; Metcalfe and Gherghiou 1998); and that this implies the need of having a Strategic Level of Innovation Policy (broadly defined) which operates side by side with...

The paper summarizes the findings obtained during the first year of the Venture Fun project, carried out in an EU Network of Excellence PRIME and funded from the Sixth Framework Programme. The paper defines the central concepts of the project, identifies questions for further elaboration and...

Venture capitalism can be understood as a new mechanism for the governance of technological knowledge that is the result of a system dynamics where a variety of complementary and localized innovations introduced by heterogeneous agents aligned and converged towards a collective platform. The new...