Edited by Hans Landström
In today’s modern economy a country’s or region’s competitiveness lies in its capability to innovate. Whilst earlier old and established companies were reliable producers of innovation as well as jobs, that is changing. The big corporations are outsourcing and downsizing, and the new technologies are emerging from companies that did not exist 20 years ago. Governments have come to realize that in order to sustain economic growth and create jobs they must have a policy that facilitates entrepreneurship. One of the important components in this policy is the supply of venture capital. Nowadays there are few fastgrowing high technology companies that have not been ﬁnanced by venture capital at some stage. If they haven’t obtained venture capital, they probably tried to obtain it. Governments all around the world are creating schemes and policies that will facilitate the supply of venture capital. The increased attention given to venture capital from policy makers is also evident within the research. The amount of research and literature on venture capital is enormous. There are several academic journals devoted solely to venture capital, and venture capital research is occurring in a large number of journals; numerous books on venture capital are published yearly. Though the venture capital phenomenon is not new, it generates an increasingly large amount of research. We are at a stage when it is suitable to synthesize the research ﬁndings and see what we know and what we do not know about venture capital. This volume presents the state of the art...