1. Glenda Napier Glenda.napier@iked.org
Global Venture Capital Markets and the Policy Challenges IKED/INSME International Roundtable, February 26, 2004
Previous presentations have spoken a little about why should government/the public sector intervene/act, why is there a need for public intervention / intermediary organizations -> POLICY RATIONALE (market failures, Government/policy failure, Systemic failure)
I would like to speak here briefly about the importance of linking local measures / services to national programmes…
Intro (advantages and shortcomings of local, regional, national level of policy-making)
Example: Sweden’s national incubator programme
Glenda Napier

2. R&D Expenditures
Source: EUROSTAT (2004)

3. U.S. U.K. Switzerland Sweden Spain Portugal Norway Netherlands
Luxembourg
Japan
Italy
Ireland
Iceland
Greece
Germany
France
Finland
Belgium
Denmark
Austria 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15
Start-up Rates,
GDP Growth,
Source: OECD (2000)

4. The Importance of Venture Capital
Company Growth in the Absence of Venture Capital
Source: EVCA (2002)

5. Sufficient Access to Funding ?
Access to finance a major business constraint - % of total SME, 1999
Source: EIB (2003)

6. Global VC Market
US and European Venture Capital Investments (amount invested $M)
Source: Ernst and Young, VentureOne (2002)

7. Global Falling Seed InvestmentsUS UK
Sweden
Denmark
Czech Republic
Hungary
EU15
Poland
Source: EUROSTAT (2004)

8. Global Investment and Funds Raised
US$B
Source: Ernst & Young and VentureOne (2002)

9. Designing Global Venture Capital Policy 1
INTERMEDIATION
VENTURE CAPITAL ACTIVITY
SUPPLY: Investors
DEMAND: SMEs
Source: IKED (2004), The Global Venture Capital Market (Forthcoming)

10. Designing Global Venture Capital Policy 2
REGIONAL STRUCTURE
DOMESTIC STRUCTURE
GLOBAL STRUCTURE
Source: IKED (2004), The Global Venture Capital Market (Forthcoming)

11. IKED’s Activities in Venture Capital
Adressing policy related issues in domestic and cross-country structures
Supply and demand oriented approach
TWG
Forthcoming Venture Capital Publication (2004)
Policy Reviews
IKED attempts to work with both framework conditions and local policy level.
Regional competence development project: selected regions undergoing far-reaching restructuring processes in Sweden