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Venture capital and technology commercialization: evidence from China

Author

Listed:
  • Yongjie Zhang

    (Tianjin University)

  • Qiaoran Meng

    (Tianjin University)

  • Dayong Liu

    (Tianjin University)

Abstract

Although the importance of venture capital has been recognized in innovation literature, we know relatively little about how and to what extent it influences regional technology commercialization. Using a city-level data set that includes 225 cities in China, we identify the possible economic channels through which regional venture capital development affects technology commercialization. Our findings indicate that cities with better developed venture capital market exhibit higher technology commercialization performance. Furthermore, enhancing technology search efficiency, strengthening collaboration between universities and businesses, and providing sufficient funding are three possible channels that allow venture capital to promote technology commercialization. Our results offer new insights into the effects of venture capital development on technology innovation, especially complementing the literature on innovation from the perspective of technology commercialization.

Suggested Citation

  • Yongjie Zhang & Qiaoran Meng & Dayong Liu, 2024. "Venture capital and technology commercialization: evidence from China," The Journal of Technology Transfer, Springer, vol. 49(6), pages 2336-2388, December.
    • Handle: RePEc:kap:jtecht:v:49:y:2024:i:6:d:10.1007_s10961-024-10063-z
    DOI: 10.1007/s10961-024-10063-z
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    More about this item

    Keywords

    Venture capital; Technology commercialization; Innovation; Cooperation;
    All these keywords.

    JEL classification:

    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
    • O18 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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