VENTURE CAPITAL ROLE IN FINANCING INNOVATION

Аннотация

Venture capital is associated with some of the world's fastest growing and most influential firms. Scientists and practitioners have effectively articulated the strengths of the venture model. At the same time, venture funding also has real limitations in its ability to drive significant technological change. Three issues especially relate to the very narrow range of technological innovation that meets the requirements of institutional venture capital investors, and the relatively small number of venture capital investors who own and channel a significant portion of the capital that goes to finance radical technological innovation. changes and weakening in recent years of the increased focus of venture capital firms on corporate governance. While our ability to measure the social welfare impact of venture capital is still in its infancy, we hope this article will stimulate discussion and research on these issues.