The capital gap for small technology companies in Spain: public venture capital to the rescue?

• Autores: Itxaso del Palacio Aguirre
• Directores de la Tesis: Francesc Solé Parellada (dir. tes.)
• Lectura: En la Universitat Politècnica de Catalunya (UPC) ( España ) en 2010
• Idioma: español
• Tribunal Calificador de la Tesis: Josep Coll Bertrán (presid.), Jaume Valls Passola (secret.), Marina Ranga (voc.), Martí Parellada i Sabata (voc.), Domingo Enrique Ribeiro Soriano (voc.)
• Materias:
  • Ciencias económicas
    • Economía del cambio tecnológico
      • Innovación tecnológica
    • Organización y dirección de empresas
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• Resumen

  • The field of entrepreneurship has become a major area of research. The number of relevant publications in this field has grown significantly in the past several years (summarized in Chapter I).

    Its importance derives from the positive relationship existing among entrepreneurial activity, regional development and economic growth. The fact that the entrepreneurial process creates new jobs, opens up chances for upward social mobility, fosters economic flexibility, and contributes to competition and economic efficiency has been supported by authors such as Schumpeter (1934), Hagen (1962), Kilby (1971) and Baumol (1968) for many years. In general, countries with high entrepreneurial rates show rapid development and economic growth ratios. In some environments, entrepreneurial activity has been shown to be especially high. These environments, or Clusters of Innovation (COI), are characterized by having mobile resources, using new firms as rapid and frequent mechanisms for innovation, consisting of born global companies, and aligning incentives and goals among the individuals in the COI (Engel and del-Palacio, 2009).

    Much has been written about these active entrepreneurial environments, especially about Route 128 in New England and Silicon Valley in California.