Development of a Venture Capital Market: A European Overview
Development of a Venture Capital Market: A European Overview

Summary/Abstract: Despite the long established traditions lasting since the fifteen century and since industrial revolution, Europe lost the initiative of providing a strong financial support to new technologies and endeavors. United States has become in the past 20 years the most attractive market for raising capital for new businesses and innovations, with a strong impact on the economic competitiveness and resistance to crises. After an initial catching up during late 1990s, Europe still struggles to improve its attractiveness for venture capital, falling behind Asian and Middle East countries. The interest of academic and governmental research on the causes of underdevelopment of European venture capital market increased in the past 10 years. Several studies have been identified on the topic, with the most comprehensive being the ones led by Professor Stefano Caselli and Professor Greg N. Gregoriou. Also the analysis of industry associations’ data is useful in identifying the differences in development of venture equity market across European countries.

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