Clusters and benchmarks on the dynamics of nanoscience and nanotechnology
  • Français
  • English
Menu principal
Accueil
Nous contacter
Plan du site
Rechercher
Nuage de mots clés
Recherches
Nanotechnologies
Industrie et recherche
Le coin des cartes
Ressources
Glossaires
Bibliographie
Fiches de lecture
Info nano
Liens
 
 
Creating venture capital industries that co-evolve with high tech: Insights from an extended industry life cycle perspective of the Israeli experience

Book or journal references : Research Policy, vol. 35, pp. 1477-1498 (2006).

Author(s) : Avnimelech , G. and Teubal , M.

Abstract :

This paper presents an industry life cycle model of venture capital (VC) and associated startup-intensive high-tech clusters based on the Israeli experience of the last 35 years. Throughout, VC is considered as a new industry, which, when successful, traverses five phases: background conditions, pre-emergence, emergence, restructuring and consolidation. Each phase comprises a number of events and processes, including policy ones. A central process is VC emergence-a cumulative, self-reinforcing process involving a number of interrelated sub-processes. A central sub-process in the Israeli case was VC-startup co-evolution, which was the critical link between the VC emergence and the transformation of the high-tech cluster into a startup-intensive configuration. Our analysis suggests that, provided appropriate background conditions prevail, VC could be central vector in the transformation of existing high-tech clusters. (c) 2006 Elsevier B.V. All rights reserved.


Keywords :

venture capitals; startup; industry life cycled; high-tech cluster; emergence INITIAL PUBLIC OFFERINGS; INNOVATION; FIRMS; COMPETITION; COMPANIES

©2006 - 2010 Clusters and benchmarks on the dynamics of nanoscience and nanotechnology