Changes in the macroeconomy, combined with changes in bank lending practices, have created a more difficult financing environment for small businesses in the UK in the 1990s. Notes increasing encouragement for small businesses to seek venture capital as an alternative, but points out evidence...

Relatively little attention has been given to the role of entrepreneurial dynamics in the origin and growth of technology clusters. To the extent that the role of entrepreneurship is considered at all, the emphasis is on the locally embedded nature of the process and on the characteristics of...

<title/> The nature and extent of complementarities between the informal and formal venture capital markets has been the subject of limited research. This paper explores systematically the nature and extent of complementarities between the formal and informal venture capital markets in the UK, and...

Business angels play a critical role in the creation of an entrepreneurial climate. However, measuring business angel investment activity on either a cross-sectional or time series basis is extremely problematic. This paper reviews various approaches to measuring business angel investment...

Access to finance has been identified as a significant constraint on the development of technology-based businesses. Although important, institutional venture capital and business angel finance are used by only a small proportion of new and growing ventures. The role of bootstrapping -- defined...

The existence of an equity gap in the provision of venture capital has prompted a range of initiatives by public sector bodies to stimulate the venture capital market. This paper reviews the rationale for public sponsorship of venture capital and summarizes the four papers which comprise this...