IDEAS home Printed from https://ideas.repec.org/a/wsi/jdexxx/v12y2007i02ns1084946707000605.html
   My bibliography  Save this article

An Empirical Analysis: Venture Capital Clusters And Firm Migration

Author

Listed:
  • ROBERT PLANT

    (Department of Computer Information Systems, University of Miami, Coral Gables, FL 33124, USA)

Abstract

Regions and states utilize venture capital forums to raise the profiles of youthful, potentially high-growth firms located within their boundaries. They aim to help organizations raise capital, to widen professional networks and to stimulate regional development. As a contribution toward determining the success of the forum concept, the Florida venture forum was studied. This paper follows those companies who received funding subsequent to participating in the forum during the period 1997–2003; data is drawn from the forum and public records. Funding profiles are built up for successful participants and the funding entities. A secondary profile, post-funding, is developed that examines the role the funding agent plays in determining whether the funded company remains or migrates from its original location. The finding of this paper is that a significant number of funded entities are located within venture capital cores or clusters. The paper shows that funded companies are younger than non-funded companies, more likely to be acquired and move from their original location. The paper also shows that the participant companies that were acquired achieve an exit strategy by migrating out of the state of Florida.

Suggested Citation

  • Robert Plant, 2007. "An Empirical Analysis: Venture Capital Clusters And Firm Migration," Journal of Developmental Entrepreneurship (JDE), World Scientific Publishing Co. Pte. Ltd., vol. 12(02), pages 139-163.
    • Handle: RePEc:wsi:jdexxx:v:12:y:2007:i:02:n:s1084946707000605
    DOI: 10.1142/S1084946707000605
    as

    Download full text from publisher

    File URL: http://www.worldscientific.com/doi/abs/10.1142/S1084946707000605
    Download Restriction: Access to full text is restricted to subscribers
    File URL: https://libkey.io/10.1142/S1084946707000605?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Charlie Karlsson & Börje Johansson & Roger R. Stough (ed.), 2005. "Industrial Clusters and Inter-Firm Networks," Books, Edward Elgar Publishing, number 3577.
    2. Richard E. Caves, 1997. "Industrial Organization and New Findings on the Turnover and Mobility of Firms," Harvard Institute of Economic Research Working Papers 1808, Harvard - Institute of Economic Research.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Patricia Jardim Da Palma & Miguel Pereira Lopes & Telmo Ferreira Alves, 2018. "Entrepreneurship as a Calling: A Pilot Study with Aspiring Entrepreneurs," Journal of Entrepreneurship and Innovation in Emerging Economies, Entrepreneurship Development Institute of India, vol. 27(2), pages 277-300, September.
    2. Kolympiris, Christos & Kalaitzandonakes, Nicholas & Miller, Douglas, 2011. "Spatial collocation and venture capital in the US biotechnology industry," Research Policy, Elsevier, vol. 40(9), pages 1188-1199.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Thi Xuan Thu Nguyen & Javier Revilla Diez, 2017. "Multinational enterprises and industrial spatial concentration patterns in the Red River Delta and Southeast Vietnam," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 59(1), pages 101-138, July.
    2. Max-Peter Menzel, 2010. "Sources of ‘Second Generation Growth’: Spin-off Processes in the Emerging Biochip Industries in Jena and Berlin," Chapters, in: Dirk Fornahl & Sebastian Henn & Max-Peter Menzel (ed.), Emerging Clusters, chapter 10, Edward Elgar Publishing.
    3. Biggiero, Lucio & Angelini, Pier Paolo, 2015. "Hunting scale-free properties in R&D collaboration networks: Self-organization, power-law and policy issues in the European aerospace research area," Technological Forecasting and Social Change, Elsevier, vol. 94(C), pages 21-43.
    4. Edward Bergman, 2009. "Embedding network analysis in spatial studies of innovation," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 43(3), pages 559-565, September.
    5. Adriana Kocornik‐Mina, 2009. "Spatial econometrics of multiregional growth: The case of India," Papers in Regional Science, Wiley Blackwell, vol. 88(2), pages 279-300, June.
    6. McCann, Philip & Arita, Tomokazu, 2006. "Clusters and regional development: Some cautionary observations from the semiconductor industry," Information Economics and Policy, Elsevier, vol. 18(2), pages 157-180, June.
    7. Zoltan Acs, 2012. "Public Policy in an Entrepreneurial Society," Chapters, in: Michael Dietrich & Jackie Krafft (ed.), Handbook on the Economics and Theory of the Firm, chapter 36, Edward Elgar Publishing.
    8. Robert J. Stimson, 2014. "Proximity and endogenous regional development," Chapters, in: André Torre & Frédéric Wallet (ed.), Regional Development and Proximity Relations, chapter 1, pages 47-93, Edward Elgar Publishing.
    9. Mirko Titze & Matthias Brachert & Alexander Kubis, 2011. "Local and regional knowledge sources of industrial clusters - methodical aspects in a multidimensional framework for cluster identification," ERSA conference papers ersa10p709, European Regional Science Association.
    10. Dieter F. Kogler & Jürgen Essletzbichler & David L. Rigby, 2017. "The evolution of specialization in the EU15 knowledge space," Journal of Economic Geography, Oxford University Press, vol. 17(2), pages 345-373.
    11. Jong Hwa Park, 2009. "Locational Environment, Obstacles, and Policy Demands in an Emerging Cluster: The Case of a Medical Cluster in Daegu," International Review of Public Administration, Taylor & Francis Journals, vol. 13(3), pages 107-125, January.
    12. John Haltiwanger, 2002. "Understanding aggregate growth: The need for microeconomic evidence," New Zealand Economic Papers, Taylor & Francis Journals, vol. 36(1), pages 33-58.
    13. Charlie Karlsson, 2011. "Clusters, Networks and Creativity," Chapters, in: David Emanuel Andersson & Åke E. Andersson & Charlotta Mellander (ed.), Handbook of Creative Cities, chapter 5, Edward Elgar Publishing.
    14. Agnetis, Alessandro & Chen, Bo & Nicosia, Gaia & Pacifici, Andrea, 2019. "Price of fairness in two-agent single-machine scheduling problems," European Journal of Operational Research, Elsevier, vol. 276(1), pages 79-87.
    15. Jarle Bastesen & Eirik Vatne, 2014. "Rapid-growth firms: exploring the role and location of entrepreneurial ventures," Chapters, in: Charlie Karlsson & Börje Johansson & Roger R. Stough (ed.), Agglomeration, Clusters and Entrepreneurship, chapter 8, pages 159-198, Edward Elgar Publishing.
    16. Björn Frank, 2008. "Location decisions in a changing labour market environment," Review of Regional Research: Jahrbuch für Regionalwissenschaft, Springer;Gesellschaft für Regionalforschung (GfR), vol. 28(1), pages 31-42, February.
    17. Dhawan, Rajeev, 2001. "Firm size and productivity differential: theory and evidence from a panel of US firms," Journal of Economic Behavior & Organization, Elsevier, vol. 44(3), pages 269-293, March.
    18. Iammarino, Simona & McCann, Philip, 2006. "The structure and evolution of industrial clusters: Transactions, technology and knowledge spillovers," Research Policy, Elsevier, vol. 35(7), pages 1018-1036, September.
    19. Michaela Trippl & Joshua von Gabain & Franz Tödtling, 2006. "Policy agents as catalysts of knowledge links in the biotechnology sector," SRE-Disc sre-disc-2006_01, Institute for Multilevel Governance and Development, Department of Socioeconomics, Vienna University of Economics and Business.
    20. P. Geroski, 1998. "An Applied Econometrician's View of Large Company Performance," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 13(3), pages 271-294, June.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wsi:jdexxx:v:12:y:2007:i:02:n:s1084946707000605. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Tai Tone Lim (email available below). General contact details of provider: http://www.worldscinet.com/jde/jde.shtml .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.