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Innovative and sustainable energy technologies: the role of venture capital

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  • Bill Moore
  • Rolf Wüstenhagen

Abstract

This paper provides an overview of a multi‐year research project being conducted at the University of St. Gallen, Switzerland. The objective of the research is to evaluate the role of financial structure in promoting the development of innovative and sustainable energy technologies and its current relationship to innovation and entrepreneurial activity in this important economic sector. In this paper, emphasis is placed on the venture capital segment of the capital market and the electricity segment of the energy industry. We first provide a short overview of the electricity sector. We then briefly discuss the concept of innovation and entrepreneurship and its relationship to our research effort. Finally, the bulk of the paper outlines the conceptual framework for the venture capital element of the research project. We conclude the paper with a summary of our preliminary observations. Copyright © 2004 John Wiley & Sons, Ltd and ERP Environment.

Suggested Citation

  • Bill Moore & Rolf Wüstenhagen, 2004. "Innovative and sustainable energy technologies: the role of venture capital," Business Strategy and the Environment, Wiley Blackwell, vol. 13(4), pages 235-245, July.
    • Handle: RePEc:bla:bstrat:v:13:y:2004:i:4:p:235-245
    DOI: 10.1002/bse.413
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    References listed on IDEAS

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    1. Samuel Kortum & Josh Lerner, 2000. "Assessing the Contribution of Venture Capital to Innovation," RAND Journal of Economics, The RAND Corporation, vol. 31(4), pages 674-692, Winter.
    2. Hellmann, Thomas & Puri, Manju, 2000. "The Interaction between Product Market and Financing Strategy: The Role of Venture Capital," The Review of Financial Studies, Society for Financial Studies, vol. 13(4), pages 959-984.
    3. Steven Kaplan & Antoinette Schoar, 2003. "Private Equity Performance: Returns, Persistence and Capital," NBER Working Papers 9807, National Bureau of Economic Research, Inc.
    4. Jeng, Leslie A. & Wells, Philippe C., 2000. "The determinants of venture capital funding: evidence across countries," Journal of Corporate Finance, Elsevier, vol. 6(3), pages 241-289, September.
    5. Samuel Kortum & Josh Lerner, 1998. "Does Venture Capital Spur Innovation?," NBER Working Papers 6846, National Bureau of Economic Research, Inc.
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    Cited by:

    1. Jip Leendertse & Frank J. van Rijnsoever & Chris P. Eveleens, 2021. "The sustainable start‐up paradox: Predicting the business and climate performance of start‐ups," Business Strategy and the Environment, Wiley Blackwell, vol. 30(2), pages 1019-1036, February.
    2. Harilal Krishna & Yash Kashyap & Dwarkeshwar Dutt & Ambuj D. Sagar & Abhishek Malhotra, 2023. "Understanding India’s low-carbon energy technology startup landscape," Nature Energy, Nature, vol. 8(1), pages 94-105, January.
    3. Maiti, Moinak, 2022. "Does development in venture capital investments influence green growth?," Technological Forecasting and Social Change, Elsevier, vol. 182(C).
    4. Werner Bönte & Christian Dienes, 2013. "Environmental Innovations and Strategies for the Development of New Production Technologies: Empirical Evidence from Europe," Business Strategy and the Environment, Wiley Blackwell, vol. 22(8), pages 501-516, December.
    5. Kolte, Ashutosh & Festa, Giuseppe & Ciampi, Francesco & Meissner, Dirk & Rossi, Matteo, 2023. "Exploring corporate venture capital investments in clean energy—a focus on the Asia-Pacific region," Applied Energy, Elsevier, vol. 334(C).

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