Venture capital (VC) and growth are examined both empirically and theoretically. Empirically, VC-backed startups have higher early growth rates and initial patent quality than non-VC-backed ones. VC backing increases a startup's likelihood of reaching the right tails of the firm size and...

A fundamental problem in the scientific field of technical change and technological forecasting is to detect the driving technical characteristics of new technology in order to predict evolutionary pathways. The vast literature in economics of innovation has analyzed many aspects of technical...