Venture capital programmes in the UK and Germany: In what sense regional policies?

Sunley P., Klagge B., Berndt C. and Martin R. (2005) Venture capital programmes in the UK and Germany: in what sense regional policies?, Regional Studies 39 , 255–273. The paper considers how far and in what ways venture capital policies in the UK and Germany have been constructed as regional policy interventions. It begins by explaining two justifications for adding a regional dimension to venture capital policy and outlines the development of such policy in the two states. It explains the contrasting policy regimes and the means of intervention employed. Despite their marked differences, venture capital policies in both states are regionalized to only a limited degree. However, the uneven regional operations and effects of such policies are likely to produce an unintended regionalization of outcomes that may contradict the aims of closing regional disparities in risk finance and entrepreneurialism.