The evolution of Venture Capital and Private Equity Investment Models for the development: Europe, USA, and Israel Markets. ''Start Ups Boom'' starting to boostrap High Tech in the Universities

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15 and address the sector to finance. In many European countries, the governments directly intervened to encourage the setting-up of entrepreneurial initiatives, with variable effectiveness. In terms of dimension, the main example is France, which in the second trimester of 2010 generated 21% investments of whole Europe (in extra-continental Europe the record belongs to the United Kingdom with 32%), invested 221 million Euros and created 74 deals. One of the main vectors is CDC Enterprises, a sovereign fund of funds specialized in private equity operations. The continental model will be explored starting from the Italian context and cultural situation, from which my study starts to move then to the most successful models. b- Hybrid model: a strategy based on structures of venture capital financed through public-private coinvestment, such as Israel with Yozma Group, and a unique methodology of investment. The story of the Israeli model is frequently mentioned in the literature, considered the noteworthy impact of public policies: through Yozma Venture Fund, they passed from one VC fund in 1992 to 10 funds and 122 listed companies in a few years time. In this case, we witnessed the convergence of several factors: cultural, geopolitical and related to effective government regulation. c- The Silicon Valley model: an ecosystem of private subjects, funds and universities in the USA, which employs liquidity collected through pension funds, university endowments and individuals. The major investors and a large amount of venture backed companies polarized within a territorially delimited area, through the activation of relevant network effects. Among the fundamental element of this network there are research universities, such as the Stanford University, almost completely devoted to Venture backed, generating a constant flow of human capital and ideas potentially transferrable to the market. This model of development had an initial input from military research, but with the passing of time broke away from public spending and since a few decades stands on private investments. Therefore, we will analyze the geographical areas in the world in which the venture capital is more widespread and involved in social fabric, in terms of dimension of capitals, subjects connected to such processes and complexity of investment methodology. Later on, I will draw up a comparison of the evaluation of investments and the different procedure of growth of the start-ups, and their transfer of technology from universities to the market. The present analysis is structured following a scale through a bottom-up approach with two conclusive models of operative proposals in order not to lose the future in our country. This study aims at demonstrating that Venture Capital is not intended the same everywhere in the world, but there is empiric evidence, a multiple different idea and implementation of stakeholders in the venture financial world about how to build a sustainable business, how to approach and rate a determined “deal” and its potentialities, how to create innovation and how to encourage young fervent rich in new ideas brains upon which

Anteprima della Tesi di Diego Tha

Anteprima della tesi: The evolution of Venture Capital and Private Equity Investment Models for the development: Europe, USA, and Israel Markets. ''Start Ups Boom'' starting to boostrap High Tech in the Universities, Pagina 6

Laurea liv.II (specialistica)

Facoltà: Economia

Autore: Diego Tha Contatta »

Composta da 210 pagine.

 

Questa tesi ha raggiunto 273 click dal 10/06/2011.

 

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