Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/44592 
Year of Publication: 
2010
Series/Report no.: 
ETLA Discussion Papers No. 1221
Publisher: 
The Research Institute of the Finnish Economy (ETLA), Helsinki
Abstract: 
This report assesses the effectiveness of the supply and demand side policy initiatives in Finland targeted at pre-seed and seed stage businesses, particularly from the viewpoint of high-growth ventures. In order to obtain a yardstick by which to judge the current policy mix in Finland, this study focuses on systemic functions which these policies can be expected to fulfil to promote a viable high-growth entrepreneurial eco-system. When considering the features of major policy initiatives the study draws on analysis of venture capital policies and especially of typical failures in policy initiatives, as presented by Lerner (2009). The study assesses existing pre-seed and seed stage policy schemes and even though the present policy mix has successful elements, it also exhibits serious flaws in programme design and implementation, which may be counteractive to the achievement of the policy objectives. There is also a need to improve overall policy coordination and strategic leadership in the promotion of high-growth ventures.
Subjects: 
venture capital-directed policy
seed stage initiatives
policy design
JEL: 
G24
O38
Document Type: 
Working Paper

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