The Public Venture Capital Challenge: The Australian Case
40 Pages Posted: 7 Nov 2007
Date Written: June 30, 2007
Abstract
The appropriate role of the public sector in fomenting venture capital activity remains highly controversial. While dynamic new venture markets in such nations as Israel and India have been catalyzed by public interventions, there are also many examples world-wide of failed public sector efforts to promote venture capital activity. This paper describes one effort to avoid the pitfalls of the past, and design a thoughtful set of policies to encourage venture capital activity.
In particular, this paper describes the experience of the Australian government between 2004 and 2006 in studying its venture capital market and how to promote it. After reviewing the more general case for a public role in promoting venture activity and the possible pitfalls that may result, we turn to understanding the market as it existed in Australia in 2004. We then outline the key policies that were discussed and adopted.
Keywords: private equity, entrepreneurship, public policy
JEL Classification: G24, H23
Suggested Citation: Suggested Citation
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- Citations
- Policy Citations: 2
- Citation Indexes: 4
- Usage
- Abstract Views: 2860
- Downloads: 602
- Captures
- Readers: 6
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