Venture Capital and the Financing of Innovation
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- ISBN 9781786300690
- Weight: 454g
- Dimensions: 160 x 236mm
- Publication Date: 14 Feb 2020
- Publisher: ISTE Ltd and John Wiley & Sons Inc
- Publication City/Country: GB
- Product Form: Hardback
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The funding of innovative projects that are fundamentally ambiguous often leads to situations where decision-making is difficult. However, decision-making can be improved by practices such as syndication and step-by-step funding. The dynamic of this industry requires us to consider the economic and institutional variables that make this system coherent in English-speaking countries, but conversely reduce it to a privileged niche by the leading authorities in Europe and France.
This book proposes two guiding ideas. The first idea presents innovation as a very uncertain process. This modifies the decision-making in the entrepreneurial ecosystem, with intervention upstream in regards to stronger foundations, evaluations and selection of projects. The second idea is that the actors hold onto partial knowledge in a context where their attention span is limited. These cognitive limitations need the formation of networks, and lead to mutual and complementary dependency relations.
Bernard Guilhon is Emeritus Professor at Aix-Marseille University, as well as a Professor at SKEMA Business School, France. He has written numerous books and articles on the knowledge economy and innovation.
