Policy Lessons from Financing Innovative Firms
40 Pages Posted: 5 Jul 2015 Last revised: 6 Jul 2015
Date Written: June 24, 2015
There has been increasing global concern from policy makers over the lack of access to finance for young innovative firms. As a result, governments in many OECD countries have sought to address the financing gap and perceived market failures by supporting the seed and early stage market. This paper seeks to summarise the lessons learned in seed and early stage finance based on OECD work focused on policies related to financing high growth firms, including angel investment and venture capital. Growth in seed and early stage finance policies highlights the role that financial development and other policies play in firm dynamics and job creation.
Keywords: finance, high growth firms, venture capital, angel investment, entrepreneurial finance, entrepreneurship policy, seed and early stage finance
JEL Classification: F3, G1, G2, G24, G23, G28, M13
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