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Finance for High-tech Sectors: State led support for Start-ups and Spin-offs

Mastroeni, M

International Journal of Entrepreneurship and Innovation Management, Vol. 4, #2/34   14 (2/3) 176-189

May 2011

This paper investigates what the main sources of finance are for start-up and spin-off firms in the information and communications technology (ICT) sector. Using interview data, it shows that government capital plays a predominant role in economies looking to establish a competitive ICT sector. It also shows how non-market incentives, not usually captured by literature on finance, play an important role in financing small innovative firms.