In this paper we try to present the role of one of the Venture Capital financing solutions - the Spin – off organizations, which are a very interesting way of acquiring the financial means for the new established innovative companies – clients of the Science and Technology Parks.

There has been an explosion of innovation backed by venture capital since late 1970’s. Nonetheless, a great deal of innovation still occurs within large companies. In this paper, I investigate the factors that determine when innovation is performed by venture-backed firms and when by large...

The objective of this paper is to examine and analyze the differences between Venture Capital development in Macedonia and several Central and Eastern Europe countries, to determine the reasons, and hence extract certain conclusions that will serve as a guideline in Macedonia’s venture capital...

The aim of this paper is to assess which factors impact the development of early-stage venture capital in South Africa. Factors identified for other markets and countries are explored and their relative importance in South Africa determined from the perspective of market participants. These...

Employing a large dataset regarding venture capital investments in US Internet firms, we analyze the effect of the current financial crisis on the venture capital market. Using regression analysis, we find that the financial crisis led to a 20% decrease in the average amount of funds raised per...

The venture capital (VC) industry supports innovation in an economy, and has seen much success over the last few years. However, with the inherent risk in any start-up business, the venture capitalist is bound to see some failures. This paper explores the effects of corporate and personal...

If control of their firms allows entrepreneurs to derive private benefits, it also allows other controlling parties. Private benefits are especially relevant for venture capitalists, who typically get considerable control in their portfolio firms, but not for banks, which are passive loan...

This paper reports on the findings of interviews conducted with Hungarian firms on their overall business and innovation strategies and innovation activities to pursue three interconnected aims: a) better understand firm behaviour by analysing qualitative features of innovation processes...