{"id":118066,"date":"2024-01-22T20:53:33","date_gmt":"2024-01-22T19:53:33","guid":{"rendered":"https:\/\/www.wifo.ac.at\/publication\/118066\/"},"modified":"2024-11-07T04:52:40","modified_gmt":"2024-11-07T03:52:40","slug":"von-den-trockenen-taelern-der-risiko-und-wachstumsfinanzierung-2","status":"publish","type":"publication","link":"https:\/\/www.wifo.ac.at\/en\/publication\/118066\/","title":{"rendered":"On the \"Valley of Death\" of Venture Capital Finance"},"content":{"rendered":"","protected":false},"featured_media":0,"template":"","class_list":["post-118066","publication","type-publication","status-publish","hentry"],"acf":{"subtitle":"","text":"Many innovation projects are abandoned before the idea is developed into a marketable product. This failure is sometimes called the \"valley of death\" and is most pronounced for technology-based entrepreneurial ventures, since the disadvantage of being small and new weighs all the more in the case of financing innovation. Due to the complex nature of most innovation projects, screening and monitoring is very costly and requires expensive expert knowledge, while entrepreneurs may be particularly reluctant to disclose information out of concern of imitation.","onlinedate":"2013-08-23 12:00:00","lang":"German","publication_series":"","publication_date":"20130801","publication_date_year":"","publication_date_full":false,"publication_num_pages":"","keywords":"[]","jelcodes":"[]","related_publications":"[]","pdf":349087,"zip":null,"link":"","monthly_report":true,"monthly_report_main":false,"monthly_report_volume":"86","monthly_report_pages":"637-648","monthly_report_pages_sort":"637","issue":"8","journal":"WIFO-Monatsberichte","publisher":"","invisible":false,"external":false,"embargo_date":"2013-08-23 12:00:00","types":[44312],"research_groups":[3491],"collaboration":"","persons":[3776],"persons_data":"[{\"personId\":3776,\"personName\":\"Michael Peneder\",\"organisationNames\":[]}]","clients":[],"subclients":[],"partners":[],"topics":[54345],"host_publication_title":"","host_publication_subtitle":"","place_of_publication":"","host_publication_editors":"[]","type_description":"","output_media":"","chapter":"","article_number":"","citations":"{\"apa\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_apa rendering_contributiontoperiodical rendering_apa rendering_contributiontoperiodical_apa\\\"><span>Peneder, M.<\\\/span> (2013). <span>Von den \\\"trockenen T\u00e4lern\\\" der Risiko- und Wachstumsfinanzierung<\\\/span>. <span><em>WIFO-Monatsberichte<\\\/em><\\\/span>, <em>86<\\\/em>(8), 637-648. <a onclick=\\\"window.open(this.href, '_blank','noopener,noreferrer'); return false;\\\" href=\\\"https:\\\/\\\/www.wifo.ac.at\\\/wwa\\\/pubid\\\/46911\\\" class=\\\"link\\\"><span>https:\\\/\\\/www.wifo.ac.at\\\/wwa\\\/pubid\\\/46911<\\\/span><\\\/a><\\\/div>\",\"vancouver\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_vancouver rendering_contributiontoperiodical rendering_vancouver rendering_contributiontoperiodical_vancouver\\\"><span>Peneder M<\\\/span>. <span class=\\\"title\\\"><span>Von den \\\"trockenen T\u00e4lern\\\" der Risiko- und Wachstumsfinanzierung<\\\/span><\\\/span>. <span>WIFO-Monatsberichte<\\\/span>. 2013 Aug;86(8):637-648.<\\\/div>\",\"bibtex\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_bibtex rendering_contributiontoperiodical rendering_bibtex rendering_contributiontoperiodical_bibtex\\\"><div>@misc{c09dfa71fa4a49e7a2f2267091861544,<\\\/div><div>  title    = \\\"Von den {\\\"}trockenen T{\\\\\\\"a}lern{\\\"} der Risiko- und Wachstumsfinanzierung\\\",<\\\/div><div>  abstract = \\\"Dieser einleitende Beitrag zum Schwerpunkt {\\\"}Risikokapital in {\\\\\\\"O}sterreich{\\\"} behandelt den in der Literatur als {\\\"}valley of death{\\\"} bezeichneten kritischen {\\\\\\\"U}bergang von der {\\\\\\\"o}ffentlichen Forschungs- zur privaten Wachstumsfinanzierung. Die Analyse identifiziert die Ursachen von Finanzierungsl{\\\\\\\"u}cken sowie die besonderen Eigenschaften der betroffenen Unternehmen und er{\\\\\\\"o}rtert die wirtschaftspolitischen Handlungsm{\\\\\\\"o}glichkeiten. In einer Zusammenfassung der einzelnen Artikel dieses Heftes steckt der Beitrag den thematischen Rahmen dieses Schwerpunktheftes der WIFO-Monatsberichte ab. Besonderes Augenmerk wird auf den Gegensatz zwischen den in {\\\\\\\"O}sterreich einerseits guten allgemeinen Finanzierungsbedingungen f{\\\\\\\"u}r kleine und mittlere Unternehmen und dem andererseits sehr schwach entwickelten Markt f{\\\\\\\"u}r Risikokapital gelegt.\\\",<\\\/div><div>  keywords = \\\"Unternehmen Wachstumsfinanzierung Venture Capital Private Equity\\\",<\\\/div><div>  author   = \\\"Michael Peneder\\\",<\\\/div><div>  note     = \\\"Risikokapital: valley of death\\\",<\\\/div><div>  year     = \\\"2013\\\",<\\\/div><div>  month    = aug,<\\\/div><div>  language = \\\"Deutsch\\\",<\\\/div><div>  volume   = \\\"86\\\",<\\\/div><div>  pages    = \\\"637--648\\\",<\\\/div><div>  journal  = \\\"WIFO-Monatsberichte\\\",<\\\/div><p>}<\\\/p><\\\/div>\",\"ris\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_ris rendering_contributiontoperiodical rendering_ris rendering_contributiontoperiodical_ris\\\"><p>TY  - GEN<\\\/p><p>T1  - Von den \\\"trockenen T\u00e4lern\\\" der Risiko- und Wachstumsfinanzierung<\\\/p><p>AU  - Peneder, Michael<\\\/p><p>N1  - Risikokapital: valley of death<\\\/p><p>PY  - 2013\\\/8<\\\/p><p>Y1  - 2013\\\/8<\\\/p><p>N2  - Dieser einleitende Beitrag zum Schwerpunkt \\\"Risikokapital in \u00d6sterreich\\\" behandelt den in der Literatur als \\\"valley of death\\\" bezeichneten kritischen \u00dcbergang von der \u00f6ffentlichen Forschungs- zur privaten Wachstumsfinanzierung. Die Analyse identifiziert die Ursachen von Finanzierungsl\u00fccken sowie die besonderen Eigenschaften der betroffenen Unternehmen und er\u00f6rtert die wirtschaftspolitischen Handlungsm\u00f6glichkeiten. In einer Zusammenfassung der einzelnen Artikel dieses Heftes steckt der Beitrag den thematischen Rahmen dieses Schwerpunktheftes der WIFO-Monatsberichte ab. Besonderes Augenmerk wird auf den Gegensatz zwischen den in \u00d6sterreich einerseits guten allgemeinen Finanzierungsbedingungen f\u00fcr kleine und mittlere Unternehmen und dem andererseits sehr schwach entwickelten Markt f\u00fcr Risikokapital gelegt.<\\\/p><p>AB  - Dieser einleitende Beitrag zum Schwerpunkt \\\"Risikokapital in \u00d6sterreich\\\" behandelt den in der Literatur als \\\"valley of death\\\" bezeichneten kritischen \u00dcbergang von der \u00f6ffentlichen Forschungs- zur privaten Wachstumsfinanzierung. Die Analyse identifiziert die Ursachen von Finanzierungsl\u00fccken sowie die besonderen Eigenschaften der betroffenen Unternehmen und er\u00f6rtert die wirtschaftspolitischen Handlungsm\u00f6glichkeiten. In einer Zusammenfassung der einzelnen Artikel dieses Heftes steckt der Beitrag den thematischen Rahmen dieses Schwerpunktheftes der WIFO-Monatsberichte ab. Besonderes Augenmerk wird auf den Gegensatz zwischen den in \u00d6sterreich einerseits guten allgemeinen Finanzierungsbedingungen f\u00fcr kleine und mittlere Unternehmen und dem andererseits sehr schwach entwickelten Markt f\u00fcr Risikokapital gelegt.<\\\/p><p>KW  - Unternehmen Wachstumsfinanzierung Venture Capital Private Equity<\\\/p><p>M3  - WIFO-Schriftenreihen<\\\/p><p>VL  - 86<\\\/p><p>SP  - 637<\\\/p><p>EP  - 648<\\\/p><p>JO  - WIFO-Monatsberichte<\\\/p><p>JF  - WIFO-Monatsberichte<\\\/p><p>ER  - <\\\/p><\\\/div>\"}","scientific_assistance":"[]","scientific_review":"[]","version":"","release_date":null,"expiration_date":null,"surveyor":"","research_assistance":"","edv":"","additional_info_de":"","additional_info_en":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>On the &quot;Valley of Death&quot; of Venture Capital Finance - WIFO<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.wifo.ac.at\/en\/publication\/118066\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"On the &quot;Valley of Death&quot; of Venture Capital Finance\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.wifo.ac.at\/en\/publication\/118066\/\" \/>\n<meta property=\"og:site_name\" content=\"WIFO\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/WIFOat\/\" \/>\n<meta property=\"article:modified_time\" content=\"2024-11-07T03:52:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.wifo.ac.at\/wp-content\/uploads\/2024\/05\/WIFO-Gebaeude-FotoAlexanderMueller-www.alexandermueller.at-IMG_6326-Bearbeitet-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1280\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:site\" content=\"@WIFOat\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.wifo.ac.at\\\/en\\\/publication\\\/118066\\\/\",\"url\":\"https:\\\/\\\/www.wifo.ac.at\\\/en\\\/publication\\\/118066\\\/\",\"name\":\"On the \\\"Valley of Death\\\" of Venture Capital Finance - 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