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Venture capital programmes in the UK and Germany: In what sense regional policies?

Author

Listed:
  • Peter Sunley
  • Britta Klagge
  • Christian Berndt
  • Ron Martin

Abstract

Sunley P., Klagge B., Berndt C. and Martin R. (2005) Venture capital programmes in the UK and Germany: in what sense regional policies?, Regional Studies 39 , 255-273. The paper considers how far and in what ways venture capital policies in the UK and Germany have been constructed as regional policy interventions. It begins by explaining two justifications for adding a regional dimension to venture capital policy and outlines the development of such policy in the two states. It explains the contrasting policy regimes and the means of intervention employed. Despite their marked differences, venture capital policies in both states are regionalized to only a limited degree. However, the uneven regional operations and effects of such policies are likely to produce an unintended regionalization of outcomes that may contradict the aims of closing regional disparities in risk finance and entrepreneurialism.

Suggested Citation

  • Peter Sunley & Britta Klagge & Christian Berndt & Ron Martin, 2005. "Venture capital programmes in the UK and Germany: In what sense regional policies?," Regional Studies, Taylor & Francis Journals, vol. 39(2), pages 255-273.
    • Handle: RePEc:taf:regstd:v:39:y:2005:i:2:p:255-273
    DOI: 10.1080/0034340052000321913
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    References listed on IDEAS

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    1. Ron Martin & Peter Sunley, 2002. "Taking risks in regions: the geographical anatomy of Europe's emerging venture capital market," Journal of Economic Geography, Oxford University Press, vol. 2(2), pages 121-150, April.
    2. Josh Lerner, 2002. "When Bureaucrats Meet Entrepreneurs: The Design of Effective "Public Venture Capital" Programmes," Economic Journal, Royal Economic Society, vol. 112(477), pages 73-84, February.
    3. Schertler, Andrea, 2002. "Comparative Advantages of Public Loan and Public Equity Schemes in Venture Capital Markets," Kiel Working Papers 1118, Kiel Institute for the World Economy (IfW Kiel).
    4. Colin Mason & Richard Harrison, 2003. "Closing the Regional Equity Gap? A Critique of the Department of Trade and Industry's Regional Venture Capital Funds Initiative," Regional Studies, Taylor & Francis Journals, vol. 37(8), pages 855-868.
    5. R.Martin & P.Sunley & D.Turner, 2001. "Taking Risks in the Geographical Anatomy of Europe's Emerging Venture Capital Market," Working Papers wp202, Centre for Business Research, University of Cambridge.
    6. Coopey, Richard & Clarke, Donald, 1995. "3i: Fifty Years Investing in Industry," OUP Catalogue, Oxford University Press, number 9780198289449.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Venture capital; Policy; Regions; Britain; Germany; Capital-risque; Politique; Regions; Grande-Bretagne; Allemagne; Riskokapital; Politik; Regionen; Grossbritannien; Deutschland; Politicas de capital de riesgo; Regiones; Reino Unido; Alemania; JEL classifications: G24; R58;
    All these keywords.

    JEL classification:

    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
    • R58 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Regional Development Planning and Policy

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