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RISIS policymakers sessions: Exploring Venture Capital concentration London's sovereignty

Guerini, Massimiliano; Colombo, Massimo G.; Tenca, Francesca; Kraemer-Eis, Helmut; Signore, Simone


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{
  "publisher": "Zenodo", 
  "DOI": "10.5281/zenodo.4734270", 
  "language": "eng", 
  "title": "RISIS policymakers sessions: Exploring Venture Capital concentration London's sovereignty", 
  "issued": {
    "date-parts": [
      [
        2021, 
        5, 
        3
      ]
    ]
  }, 
  "abstract": "<p>The<strong> 7th RISIS Policymakers Session</strong> took place on the 30th April in an online format (2 pm &ndash; 4 pm) with a presentation of <strong>Massimiliano Guerini, Massimo Colombo, and Francesca Enrica Tenca (POLIMI)</strong>, entitled <strong>Democratising access to smart money in EU, evidence form the VICO-DATASET </strong>aiming to illustrate the geographical distribution of VC activity in Europe and Israel over the 2010-2018 period.<br>\n&nbsp;<br>\n<strong>Venture Capital</strong> (VC)&nbsp;is an important source of finance for the growth of innovative startups, which contribute significantly to a <strong>country&rsquo;s international competitiveness</strong>, as they are essential drivers of innovation, job creation, and economic development. Using the <strong>RISIS VICO-DATASET</strong> the research describes the agglomeration <strong>patterns of VC activity at the regional, metropolitan, and industry level</strong>.<br>\n&nbsp;<br>\nThe study illustrated some crucial evidence: <strong>the UK and France are the most relevant VC markets</strong> in terms of the number of VC deals, while Eastern European countries and Israel show the highest incidence rates (VC deals / GDP). Moreover, <strong>VC activity is mostly concentrated in large metropolitan areas</strong>, with increased concentration levels from 2010 to 2018. However, there is a non-negligible share of VC activity in more peripheral areas. In details, <strong>London</strong>, which represents by far the top VC hub, <strong>experienced a +50% in VC activity growth from 2010 to 2018</strong>, compared to a modest +6% of Paris (the 2nd VC hub) and Tel Aviv (+23%), ranked 3rd in terms of VC activity. &nbsp;Some smaller areas in terms of VC activities registered remarkable growth rates from 2010 to 2018, such as Budapest (+167%), Milan (+62%), and Tallinn (+124%).<br>\n&nbsp;<br>\nLast but not least, <strong>important differences emerged across sectors</strong>. The life science sector exhibits higher dispersion of VC deals outside the main VC hubs, mainly in areas with relevant knowledge creation activity. Conversely, <strong>VC activity in the Software, Internet &amp; TLC, and R&amp;D &amp; engineering sectors is concentrating in large metropolitan areas</strong>.</p>\n\n<p>The findings have important policy implications for democratizing access to VC in more peripheral areas and for the development of entrepreneurial ecosystems. <strong>Helmut Kraemer-Eis and Simone Signore (EIF, European Investment Fund) </strong>provided their valuable contribution describing the <strong>European ecosystem in which start-up&rsquo;s activities</strong> <strong>are registering</strong> - because of the complexity of the period mainly determined by the pandemic emergency &nbsp;- <strong>ongoing and challenges transformation</strong>s.</p>", 
  "author": [
    {
      "family": "Guerini, Massimiliano"
    }, 
    {
      "family": "Colombo, Massimo G."
    }, 
    {
      "family": "Tenca, Francesca"
    }, 
    {
      "family": "Kraemer-Eis, Helmut"
    }, 
    {
      "family": "Signore, Simone"
    }
  ], 
  "version": "1", 
  "type": "speech", 
  "id": "4734270"
}
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