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An assessment of government funding of business angel networks in Flanders

Eine Bewertung der staatlichen Finanzierung von Business-Angel-Netzwerken in Flandern
[journal article]

Collewaert, Veroniek; Manigart, Sophie; Aernoudt, Rudy

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Abstract We evaluate whether government intervention through the subsidization of business angel networks enhances regional economic growth. We show that, firstly, BANs reduce the information and financing problems entrepreneurial companies face. Secondly, these companies contribute to economic development and growth. Thirdly, there are positive indicators of future potential, such as an upward evolution in value creation and ability to raise follow-on financing. Finally, the programme has many positive indirect effects. This leads us to tentatively conclude that public BAN support is warranted. However, to make this conclusion more robust requires a longer-term evaluation.
Keywords venture capital; politics; economic development (on national level)
Classification Political Economy; Economic Policy
Free Keywords risk capital; business angels; policy; economic development; market failure; Business Angels; Scheitern auf dem Markt
Document language English
Publication Year 2010
Page/Pages p. 119-130
Journal Regional Studies, 44 (2010) 1
Status Postprint; peer reviewed
Licence PEER Licence Agreement (applicable only to documents from PEER project)