This study investigates the variance of state-backed venture capital (VC) policy designs aimed at creating domestic VC industries. Building upon historical institutionalist and neo-development literatures, the project examines small states that have permeable borders between government and industry, and those states characterised by a Weberian bureaucracy, to analyse the mediating role of institutions on VC policy design (and as a result, policy outputs). Tripartite institutional arrangements between the state and both technology and capital sectors are expected to create VC programmes that encourage early-stage investment, provate participation in the VC industry, and elicit international capital. VC industry outputs (VC deal volume, investment-stage focus, presence of foreign capital and private investor participation) are used as supporting evidence of the variance of design. To test the hypothesis, three comparative cases of small states that employed supply-side VC policies in the 1990s, with similar policy objectives, are examined: Singapore, Israel and Finland. This project provides empirical exploration of public sector VC efforts by investigating the role of institutions, and contributes to the states versus markets debate by analysing the constraining or enabling character of this new industrial policy tool (VC policy) in states' policy choice sets.Â
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Robyn Klingler-Vidra, International Political Economy (IPE) MPhil/PhD candidate, London School of Economics (LSE)
- Thursday, 31 March 2011
- 5.15 p.m. - 6.30 p.m.
Seminar Room 3-4
Level 3, Manasseh Meyer
Lee Kuan Yew School of Public Policy
469C Bukit Timah Road