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The value of innovation for EIF-backed startups
Signore, Simone; Torfs, Wouter - 2017
The creation of value through innovation is among the defining traits of new technology-driven ventures. In this paper …. On average, for every Euro of EIF-supported VC financing, start-ups generated 2.74 Euro of private innovation value. …
Persistent link: https://www.econbiz.de/10011859809
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The impact of VC on the exit and innovation outcomes of EIF-backed start-ups
Pavlova, Elitsa; Signore, Simone - 2021
We use competing risks methods to investigate the causal link between venture capital (VC) investments supported by the EIF and the exit prospects and patenting activity of young and innovative firms. Using a novel dataset covering European start-ups receiving VC financing in the years 2007 to...
Persistent link: https://www.econbiz.de/10012436188
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Evidence on the Impact of Education on Innovation and Productivity
Junge, Martin; Severgnini, Battista; Sørensen, Anders - 2012
being involved in innovation activities. We distinguish between four types of innovation: product, process, organisational …, and marketing innovation. Moreover, we consider three di erent types of education for employees with at least 16 years of … innovation activities on rm productivity. Using a rotating panel data sample of Danish rms, we nd that di erent types of …
Persistent link: https://www.econbiz.de/10012142371
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Financing ventures
Greenwood, Jeremy; Han, Pengfei; Sanchez, Juan M. - 2017
The relationship between venture capital and growth is examined using an endogenous growth model incorporating dynamic contracts between entrepreneurs and venture capitalists. At each stage of financing, venture capitalists evaluate the viability of startups. If viable, venture capitalists...
Persistent link: https://www.econbiz.de/10011782639
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Syndication networks and company survival: evidence from European venture-capital deals
Christopoulos, Dimitris; Köppl, Stefan; Köppl-Turyna, … - 2020
We look at syndication in the venture capital industry. Investments conducted by syndicates are believed to have better chances of being successful, measured by the survival probability of portfolio companies or by successful exits. Using a novel and large dataset, covering several countries,...
Persistent link: https://www.econbiz.de/10012268276
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Liquidity events and returns of EIF-backed VC investments
Prencipe, Dario - 2017
Despite the sometimes intensive media coverage and exuberant storytelling around the industry, venture capital (VC) investors tend to operate in highly opaque markets. On this premise, this work contributes to the literature via a hand-collected dataset of about 3,600 EIF-backed VC investments...
Persistent link: https://www.econbiz.de/10011863286
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Growth patterns of EIF-backed startups
Signore, Simone - 2016
Start-up growth is often treated as a stylised fact, despite an extensive research body composed of divergent theories and empirical findings. Against this background, this work contributes to the literature by analysing a hand-collected dataset of 2,951 EIF-backed VC start-ups. Section 2...
Persistent link: https://www.econbiz.de/10011863300
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The business angel portfolio under the European Angels Fund : an empirical analysis
Gvetadze, Salome; Pal, Kristian; Torfs, Wouter - 2020
This paper analyses the Business Angel (BA) portfolio of the European Angels Fund (EAF), an initiative of the European Investment Fund, which engages in co-investment relationships with experienced business angels across Europe. It uses EIF’s proprietary database to shed light on a specific...
Persistent link: https://www.econbiz.de/10012156137
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The economic impact of VC investments supported by the EIF
Pavlova, Elitsa; Signore, Simone - 2019
This paper examines the impact of venture capital (VC) investments supported by the EIF on the financial growth and performance of young and innovative firms. Using a novel dataset covering European start-ups supported by VC in the years 2007 to 2014, we generate a counterfactual group of...
Persistent link: https://www.econbiz.de/10011995881
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Business angels in Germany : EIF's initiative to support the non-institutional financing market
Kraemer-Eis, Helmut; Schillo, Markus - 2011
Business Angels (BAs) are an important financing source for SMEs, and seed and start-up companies in particular. BAs are even more important in countries and regions lacking an institutionalised VC infrastructure, often being the only major source of equity finance for young innovative SMEs. An...
Persistent link: https://www.econbiz.de/10011862423