Financing Innovation in Enterprise: Beyond Venture Capital

摘要

Innovation in enterprise is essential to the faster paced environment in which product lifecycles are shorter, production technologies change almost overnight, and overall markets change completely. Financing is essential to the ongoing process of adaptation and development that characterizes a state's industrial base. The paper examines the important role that capital markets play in enabling innovation in the enterprises that compose a state's industry and argues that state government can play a critical role in helping to overcome obstacles to the efficiency of capital markets that may affect the revitalization of the economy.