The corporation has been able for a large part of the twentieth century to fulfil the pivotal role
of intermediary between finance and innovation. Yet the discontinuities brought about by the …

Venture capitalism is an outcome of the ICT Revolution, which made its appearance first in
the US during the late 1970s and early 1980s and then in other countries including Israel …

This paper explores the new market-mediating mechanisms linking SU invention on the one
hand and economic growth on the other. Two such mechanisms come to our mind under …

Venture capitalism can be understood as a new mechanism for the governance of
technological knowledge that is the result of a system dynamics where a variety of …

New dedicated capital markets specialized in the public transactions of the stocks of 'science-
based companies' emerged in the USA during the 1970s. These new financial markets …

Economic development and financial development are inextricably intertwined. Originating
from Schumpeter's “Theory of Economic Development,” 1 finance and growth literature …

Massimo G. Colomboa*, Terttu Luukkonenb, Philippe Mustarc and Mike Wrightd
aPolitecnico di Milano, Milan, Italy; bThe Research Institute of the Finnish Economy (ETLA) …

The innovation economy begins with discovery and culminates in speculation. Over some
250 years, economic growth has been driven by successive processes of trial and error …

The funding of innovative projects that are fundamentally ambiguous often leads to
situations where decision-making is difficult. However, decision-making can be improved by …

Venture capitalism is a major institutional innovation based on identifying economies of
scope in transactions of technological knowledge, bundled with managerial competence …