Understanding patterns and investments in new firms in emerging science and technology-based industries in the UK

Tianjiau Xia, Tim Minshall

Research output: Chapter in Book/Report/Conference proceedingChapter

Abstract

A key element in the development of a technology, a company or an industry is the availability of finance. While much effort has been directed at understanding the roles of venture capital, angel investment and public investment, there does not appear to be much analysis of the industry-level effects as a new industry is emerging. In this chapter, we investigate the patterns of public and private investments and the role of government in support of financing the emergence of science and technology industries. We also examine the criteria used by venture capitalists in their assessment of investment opportunities regarding new technology-based ventures. We focus on the analysis of investment at stage between prototyping and commercialisation of a new technology. This stage has been labelled as the 'valley of death' from an investor perspective, which reflects greater risks for investors due to the high level of both technology and market uncertainty.
Original languageEnglish
Title of host publicationNew Technology-Based Firms in the New Millennium, Volume X
EditorsR. Oakey, A. Groen, G. Cook, P. Van Der Sijde
Place of PublicationBingley, U. K.
PublisherEmerald Group Publishing Ltd.
Pages7-32
Number of pages26
ISBN (Electronic)9781781903162
ISBN (Print)9781781903155
DOIs
Publication statusPublished - 2013

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    Xia, T., & Minshall, T. (2013). Understanding patterns and investments in new firms in emerging science and technology-based industries in the UK. In R. Oakey, A. Groen, G. Cook, & P. Van Der Sijde (Eds.), New Technology-Based Firms in the New Millennium, Volume X (pp. 7-32). Emerald Group Publishing Ltd.. https://doi.org/10.1108/S1876-0228(2013)0000010004