The geography of technology-intensive start-ups and venture capital: European evidence

Massimiliano Guerini; Francesca Tenca

doi:10.1007/s40812-018-0098-9

The geography of technology-intensive start-ups and venture capital: European evidence

Research output: Contribution to journal › Article › peer-review

Abstract

This paper aims at providing novel evidence about the geographical concentration of venture capital (VC) activity in seven European countries. Drawing upon a unique dataset, VICO 2.0, we describe the geographical distribution of VC investments and VC-backed technology-intensive start-ups and analyse the regional and country-level factors associated to the regional concentration in VC activity. Results from econometric estimates suggest that regional VC activity is positively associated to the level of regional knowledge intensity, the level of regional human capital, the local supply of VC investors and a more favourable country’s legal and institutional environment.

Original language	English
Pages (from-to)	361-386
Number of pages	26
Journal	Journal of Industrial and Business Economics
Volume	45
Issue number	3
DOIs	https://doi.org/10.1007/s40812-018-0098-9
Publication status	Published - 1 Sept 2018
Externally published	Yes

Keywords

Europe
Geography
Technology-intensive start-ups
Venture capital

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10.1007/s40812-018-0098-9

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title = "The geography of technology-intensive start-ups and venture capital: European evidence",

abstract = "This paper aims at providing novel evidence about the geographical concentration of venture capital (VC) activity in seven European countries. Drawing upon a unique dataset, VICO 2.0, we describe the geographical distribution of VC investments and VC-backed technology-intensive start-ups and analyse the regional and country-level factors associated to the regional concentration in VC activity. Results from econometric estimates suggest that regional VC activity is positively associated to the level of regional knowledge intensity, the level of regional human capital, the local supply of VC investors and a more favourable country{\textquoteright}s legal and institutional environment.",

keywords = "Europe, Geography, Technology-intensive start-ups, Venture capital",

author = "Massimiliano Guerini and Francesca Tenca",

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year = "2018",

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doi = "10.1007/s40812-018-0098-9",

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AU - Tenca, Francesca

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N2 - This paper aims at providing novel evidence about the geographical concentration of venture capital (VC) activity in seven European countries. Drawing upon a unique dataset, VICO 2.0, we describe the geographical distribution of VC investments and VC-backed technology-intensive start-ups and analyse the regional and country-level factors associated to the regional concentration in VC activity. Results from econometric estimates suggest that regional VC activity is positively associated to the level of regional knowledge intensity, the level of regional human capital, the local supply of VC investors and a more favourable country’s legal and institutional environment.

AB - This paper aims at providing novel evidence about the geographical concentration of venture capital (VC) activity in seven European countries. Drawing upon a unique dataset, VICO 2.0, we describe the geographical distribution of VC investments and VC-backed technology-intensive start-ups and analyse the regional and country-level factors associated to the regional concentration in VC activity. Results from econometric estimates suggest that regional VC activity is positively associated to the level of regional knowledge intensity, the level of regional human capital, the local supply of VC investors and a more favourable country’s legal and institutional environment.

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KW - Geography

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JF - Journal of Industrial and Business Economics

IS - 3

ER -

The geography of technology-intensive start-ups and venture capital: European evidence

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Keywords

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