Abstract
We empirically compare the contributions of venture capital (VC) and private equity backed firms, including those backed by government subsidized innovation investment funds (IIFs), in the Australian economy by analyzing employment, R&D, patents, time to IPO, and market capitalization from market inception to August 2012. Overall, the data highlight a central role for VC and IIF investment in facilitating R&D, innovation, and economic growth. Our IIF findings highlight the success of government sponsorship of VC under the Australian program design, which is sharply in contrast with the lack of success of government venture programs in other countries.
| Original language | English |
|---|---|
| Pages (from-to) | 25-59 |
| Number of pages | 35 |
| Journal | Journal of Technology Transfer |
| Volume | 41 |
| Issue number | 1 |
| DOIs | |
| State | Published - 1 Feb 2016 |
UN SDGs
This output contributes to the following UN Sustainable Development Goals (SDGs)
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SDG 8 Decent Work and Economic Growth
Keywords
- Government policy
- Market capitalization
- Patents
- Private equity
- R&D
- Venture capital
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