OECD Science, Technology and Industry Working Papers

The OECD Directorate for Science, Technology and Innovation (STI) leads OECD research on the contribution of science, technology and industry to well-being and economic growth. STI Working Papers cover a broad range of topics including definition and measurement of science and technology indicators, global value chains, and research on policies to promote innovation. These technical or analytical working papers are prepared by staff or outside consultants to share early insights and elicit feedback.


Venture Capital Policy Review

United Kingdom

Despite high levels of private equity financing in the United Kingdom, relatively little funding is reaching small, technology-based companies. Institutional investors, both domestic and foreign, remain focused on later-stage deals. The United Kingdom has implemented several policy initiatives to improve the access of small firms to equity financing, including generous tax incentives and support for business angel networks. However, problems persist in targeting financing to smaller enterprises, start-ups and outlying regions. A new policy approach, which follows the example of the United States, has recently been introduced. This combines government equity with private sector management to leverage private financing for small deal sizes and also eases rules on institutional investors. This paper analyses trends in UK venture capital markets and makes policy recommendations which have been developed through an OECD peer review process ...


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