From Start-up to Scale-up: Examining Public Policies for the Financing of High-Growth Ventures

Duruflé, Gilles, Hellmann, Thomas and Wilson, Karen (2018) From Start-up to Scale-up: Examining Public Policies for the Financing of High-Growth Ventures. In: Mayer, Colin, Micossi, Stefano, Onado, Marco, Pagano, Marco and Polo, Andrea, (eds.) Finance and Investment: The European Case. Oxford University Press, Oxford, pp. 179-219. ISBN 9780198815822

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Abstract

This chapter examines the challenge for entrepreneurial companies of going beyond the start-up phase and growing into large successful companies. We examine the long-term financing of these so-called scale-up companies, focusing on the United States, Europe, and Canada. The chapter first provides a conceptual framework for understanding the challenges of financing scale-ups. It emphasizes the need for investors with deep pockets, for smart money, for investor networks, and for patient money. It then shows some data about the various aspects of financing scale-ups in the United States, Europe, and Canada, showing how Europe and Canada are lagging behind the US relatively more at the scale-up than the start-up stage. Finally, the chapter raises the question of long-term public policies for supporting the creation of a better scale-up environment.

Item Type: Book Section
Keywords: entrepreneurs, scale-up companies, long-term financing, start-ups, scale-up, financing, finance
Subject(s): Finance
Date Deposited: 12 Jun 2018 13:17
Last Modified: 26 Sep 2018 15:49
Funders: N/A
URI: http://eureka.sbs.ox.ac.uk/id/eprint/6849

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