We use competing risks methods to investigate the causal link between venture capital (VC) investments supported by the EIF and the exit prospects and patenting activity of young and innovative firms. Using a novel dataset covering European start-ups receiving VC financing in the years 2007 to...

The purpose of this study is to present a unique database on commercialized patents and to illustrate how it can be used to analyze the commercialization process of patents. The dataset is based on a survey of Swedish patents owned by inventors and small firms with a remarkably high response...

This paper attempts to evaluate the macroeconomic impact of venture capital (VC). We test the assumption that VC is similar in several respects to business R&D performed by large firms and therefore contributes to economic growth through two main channels: innovation and absorptive capacity. The...

This study focused on two primary areas: 1. To determine what can be learned from biotech and drug development companies that suffered from financial problems and ultimately failed at the beginning of the 21st century. 2. To determine how intellectual capital developed in accordance with such...

This paper proposes and empirically tests a theory of entrepreneurial innovation to explain its high degree of concentration in space and time. In the model, a successful entrepreneurial project is the result of a search and matching process between entrepreneurs looking for funds and...

European nations substitute between employment protection regulations and labor market expenditures (e.g., unemployment insurance benefits) for providing worker insurance. Employment regulations more directly tax firms making frequent labor adjustments than other labor market insurance...

Venture capital and private equity financing has become an important mechanism for the development and radical transformation of companies worldwide in recent decades. Nevertheless, the venture capital and private equity sector covers only a relatively small proportion of economic activity...

This paper reviews the literature on the role of public equity markets in the innovation ecosystem. The review highlights the importance of public equity markets in funding the research and development activities of young and high growth firms. It also illustrates the dependence of venture...

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...