The government has an important role to play in financing each stage of development of startups. Most of the financing for startups is provided by non-reimbursable public grants and lending, the latter supported by government guarantees. The role of venture capital is much smaller. However, the...

Venture capital and private equity financing has become an important mechanism for the development and radical transformation of companies worldwide in recent decades. Nevertheless, the venture capital and private equity sector covers only a relatively small proportion of economic activity...