This paper evaluates the importance of some key elements in the process leading to the birth and start-up of a new firm. We focus on a sample of recently founded and innovative European firms in technological fields characterised by strong innovative and competitive dynamics in the last 15 years. Emphasis is placed both on the role of the founder and on the assets exploited and developed in the new ventures early stages. The analysis of the questionnaire confirms the importance of the intellectual capital of the founder and of the scientific and technological knowledge acquired during advanced studies or previous work experiences. It further confirms the importance of the human and financial capital particularly, access to external funds) necessary to the start of entrepreneurial activity, of intellectual property rights and of the network of relationships with actors having complementary knowledge and assets (other firms, universities and public research centres, parent organisation). The analysis finally highlights interesting differences both at the geographical and sectoral level. Differences across geographical regions include the degree of development of financial markets and the opportunities to access external financial resources, but also and mostly the functions performed and the effectiveness of the university system. On the other side, differences across sectors include the assets exploited in founding the new venture and the key competences that allow it to survive and eventually grow.
|Translated title of the contribution||[Autom. eng. transl.] Entrepreneurship and the birth of new innovative companies in Europe: an analysis of the determinants in some high-tech sectors|
|Number of pages||26|
|Journal||Economia e Politica Industriale|
|Publication status||Published - 2009|