Bridging the equity gap for innovative SMEs
Palgrave Macmillan, Nov 15, 2008 - Business & Economics - 196 pages
There is an increasing perception that Europe's growth problems, in the present competitive environment, may be caused not so much by rigidities in labour markets, as by weaknesses in capital markets, and in particular in the access to risk capital. This book addresses the evaluation of the financial needs and constraints faced by start-up firms and the means for bridging their financing and equity gaps during the firm's most crucial growth phases. The role of public sector intervention is analysed, focusing on international best practices and the creation of public-private partnerships aiming at developing a private venture capital market for these innovative firms.
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Innovation and Economic Growth
Access to Finance of Innovative SMEs
The financing menu of innovative firms
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alternative markets analysis assessment assets auction average banks Borsa Italiana business angels cent context continuous trading costs current debts cycle early stage economic growth enterprises entrepreneur equity gap equity markets equity requirement Euronext Europe European Commission European Investment Bank EVCA Expandi financial debt financial markets financing gap firm's Germany high-tech HM Treasury incentives incubators information asymmetry innovative firms institutional investors involved ISMEs Italian leverage liquidity listed main markets market capitalisation market failures market makers measures ment micro million OECD Order-driven organisational particular potential private equity private investors problem programme projects public intervention quote-driven risk capital investment role sample sector segment self-financing shares small and medium small caps small companies small firms SMEs sources of financing start-up stock exchanges strategy structure studies supply side Table venture capital venture capital funds venture capital industry venture capitalists