Economic theory suggests that financing constraints may occur due to capital market imperfections. These particularly affect investments in innovation projects as such projects are typically characterized by a high degree of uncertainty, complexity and specificity. Financing innovation...

Subsidising research networks has become a popular instrument in technology policies, driven mainly by expected positive spillovers. In particular, the stimulation of Ramp;D co-operation between scientific institutions and industry is considered as most promising. In the context of policy...