New Technology Based Firms in the New Millennium

A collection of the best papers presented at the High Technology Small Firm (HTSF) Conference held in the UK at Manchester Business School in June 2007.

Author: Ray Oakey

Publisher: Emerald Group Publishing

ISBN: 9780857243744

Category: Business & Economics

Page: 250

View: 186

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A collection of the best papers presented at the High Technology Small Firm (HTSF) Conference held in the UK at Manchester Business School in June 2007. It includes chapters that are devoted to the critical problems of HTSF financing, comprising two contributions from the UK and from Sweden, the Irish Republic, Italy, and Belgium.
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Venture Capital and New Technology Based Firms

The aim of this study is to investigate in the role of Venture Capital in the development of New Technology Based Firms in two countries: USA and Germany.

Author: Oliver Pfirrmann

Publisher: Springer Science & Business Media

ISBN: 9783642486838

Category: Science

Page: 154

View: 602

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The aim of this study is to investigate in the role of Venture Capital in the development of New Technology Based Firms in two countries: USA and Germany. Based on literature review and empirical work issues concerning the extent and stage of financing, the nature of oversight provided by Venture Capitalists and the framework conditions for Venture Capital are subject of investigation. The results have been reflected in a workshop with experts from research, industry and policy.
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Technology Entrepreneurship

This collection of expert articles explores the development drivers of new technology-based firms and projects.

Author: André Presse

Publisher: Springer

ISBN: 9783319735092

Category: Business & Economics

Page: 300

View: 786

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This collection of expert articles explores the development drivers of new technology-based firms and projects. It provides perspectives for an in-depth understanding of how technological inventions lead to the creation of new and sustainable companies or business units. The authors address methods and concepts that help technology-based start-ups and entrepreneurial projects successfully develop innovative products and services.
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Technology Based Firms in the Innovation Process

Their development is impeded by a difficult access to capital, high R&D costs and management deficits. The book analyses their chances and risks in the innovation process.

Author: Knut Koschatzky

Publisher: Springer Science & Business Media

ISBN: 9783642521355

Category: Science

Page: 290

View: 851

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Technology-based firms contribute to dynamic competition, ensure product variety, close market gaps and promote job creation. Their development is impeded by a difficult access to capital, high R&D costs and management deficits. The book analyses their chances and risks in the innovation process. Topics deal with the management of technology-based firms, different aspects on their financing, the spectrum of public promotion programmes and the venture capital market in Germany. Finally, the book centres on regional technology and economic promotion and the creation of regional networks for technology-based firms. The reader documents research of Fraunhofer-ISI on technology-based firms and their environment and aims at a better understanding of specific chances and risks in the development process of such firms.
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New Technology based Firms in the New Millennium

Based on the formation and growth problems of High Technology Small Firms (HTSFs) begun in 1993, this body of work maps the evolution of research in this area through academic research and government policy towards a sector that is the key ...

Author: Ray Oakey

Publisher: Emerald Group Publishing

ISBN: 9781781903162

Category: Business & Economics

Page: 250

View: 446

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Based on the formation and growth problems of High Technology Small Firms (HTSFs) begun in 1993, this body of work maps the evolution of research in this area through academic research and government policy towards a sector that is the key to future prosperity of developed and developing notational economies throughout the world.
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New Technology Based Firms in the New Millennium

B VCA private equity and venture capital report on investment activity 2007. London: The British Private Equity ... Strategic alliances as a source of early-stage seed capital in new technology-based firms. T echnovation, 20, 603-615.

Author: Ray Oakey

Publisher: Emerald Group Publishing

ISBN: 9781781903155

Category: Business & Economics

Page: 238

View: 611

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This volume is the latest edition of an international edited book series based on the formation and growth problems of High Technology Small Firms (HTSFs) begun in 1993. This body of work is unique, and maps the evolution of research in this area through almost two decades of academic research and government policy towards a sector that is the key to future prosperity of developed and developing notational economies throughout the world.
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Early Stage Investments in New Technology Based Firms Analyzing the Changing German Landscape of Venture Capital Finance in the Light of Capital Market Theory and New Institutional Economics

Early stage investments in new technology-based firm are a subset of venture capital investments. Venture Capital has been an often heard term in public discussion, however for lack of a common definition is often misunderstood.

Author: Fritz Holger Ludewig

Publisher: GRIN Verlag

ISBN: 9783656997993

Category: Business & Economics

Page: 184

View: 208

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Diploma Thesis from the year 1998 in the subject Economics - Finance, grade: 2, University of Paderborn, language: English, abstract: Gegenstand der Arbeit ist die Untersuchung der jüngsten Veränderungen in der institutionellen Mikrostruktur des deutschen Kapitalmarktes, die geeignet sind die Bedingungen für die Versorgung junger Technologieunternehmen mit Eigenkapital zu verbessern. Behandelt werden insbesondere die Funktionsweise und zunehmende Bedeutung professioneller Venture Capital-Intermediäre und die hierzu komplementäre Rolle des “Neuen Marktes” in Deutschland. Der Autor zeigt, wie die Finanzierung junger Technologieunternehmen durch strukturelle Imperfektionen des Kapitalmarktes in besonderem Maße beeinträchtigt wird. Unter Berücksichtigung der fundamentalen Aussagen der neoklassischen Kapitalmarkttheorie und der Neuen Institutionenökonomik wird die Hypothese entwickelt, daß die durch die Unvollkommenheit der Märkte bedingten Risikoprämien und Transaktionskosten im Falle von Frühphaseninvestitionen in innovativen Unternehmen besonders hoch sind. Somit besteht im Falle dieser Investitionen eine erhebliche Spanne zwischen den vom Unternehmer zu tragenden Kapitalkosten und den vom Financier empfangenen Nettoerträgen. Bestimmte Institutionen des Kapitalmarktes, d. h. spezialisierte Intermediäre und regulierte Marktsegmente sind geeignet diese Spanne zwischen Kapitalkosten und Nettoerträgen zu vermindern, indem nicht-projektinhärente Risiken oder Transaktionskosten reduziert werden. Das für die Investitionsentscheidung maßgebliche Risiko-Rendite-Verhältnis einer Investition wird somit durch institutionelle Rahmenbedingungen erheblich beeinflußt. Der Autor diskutiert vor diesem theoretischen Hintergrund umfassend die konkreten Veränderungen des deutschen Venture-Capital-Marktes in der jüngsten Zeit und entwirft verschiedene Szenarien für dessen zukünftige Entwicklung. Keywords: Venture Capital, Neuer Markt, Unternehmensgründung, Innovationsmanagement
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Early Stage Investments in New Technology Based Firms

Inhaltsangabe:Abstract: In recent years the issue of early stage investment in new technology based firms has drawn considerable attention.

Author: Holger Ludewig

Publisher: diplom.de

ISBN: 9783832412142

Category: Business & Economics

Page: 188

View: 152

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Inhaltsangabe:Abstract: In recent years the issue of early stage investment in new technology based firms has drawn considerable attention. Its relevance emerges from the rise of high technology industries in the global economy. As competition in established, mature industries all over the world is ever increasing, the importance of keeping up and increasing the speed of innovation to ensure competitiveness of companies and national wealth is widely recognized. Innovation may concern products or processes. It refers to the development of new proprietary knowledge, i. e. technology, which is embodied in marketable products or services. In as far as the added private knowledge increases the utility of a product to the customers, it adds value. Unless the new features of a product are matched by competitors, a company may earn innovation rents. Thus proprietary knowledge attained through innovation is an important source of strategic advantage. In a competitive, dynamic market, however innovation rents are not sustainable. Competitors will attempt to match and exceed the innovation advantage. This may be achieved by imitation or by adding other or more innovative features. Whereas following the product life cycle model initial growth may be steep and rents may be high for the first mover, imitators competing on price and other rivals competing on innovations, may inflate the monopolistic power of the proprietary knowledge. Striving to maintain and increase market shares and profitability, companies thus have a strong incentive to keep innovating. For new technology-based firms the importance of proprietary knowledge is particularly pronounced. These start-ups operate in a hostile competitive environment, characterized by high uncertainty, offering the potential for rapid growth and high profits on the upside, but also the substantial threat of incurring deep losses on the downside. Whereas large companies generally possess a diversified product portfolio and a host of strategic assets, small companies will need to compete on a single new product or service and the determination of its management team. Politicians, worried by high unemployment and budget deficits, lately fell in love with the high-technology start-ups for their ability to create jobs and ensure future tax revenues. New technology-based firms are drivers of structural change in the economy in that they are among the first to enter new high growth potential industries. For [...]
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Value Added by Venture Capital Firms

2 Fundamentals of Venture Capital Financing In the first part of this chapter, the fundamental concepts of venture capital financing are reviewed. To begin with, new technology-based firms are characterized and the growth and finance ...

Author: Jens Ortgiese

Publisher: Josef Eul Verlag GmbH

ISBN: 9783899366211

Category: Venture capital

Page: 328

View: 731

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New Technology based Firms in Britain and Germany

This sequel to an earlier Anglo-German project examines the dramatic increase in the number of new technology-based firms in Britain and Germany in the last ten years.

Author: Anglo-German Foundation for the Study of Industrial Society

Publisher:

ISBN: NYPL:33433064678612

Category: High technology industries

Page: 186

View: 238

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This sequel to an earlier Anglo-German project examines the dramatic increase in the number of new technology-based firms in Britain and Germany in the last ten years. It focuses on key issues affecting their future growth, financial issues and recent developments.
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