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An assessment of the business impacts of the UK’s Enterprise Capital Funds

Robert Baldock

Environment and Planning C: politics and space2016https://doi.org/10.1177/0263774x15625995article
AJG 3ABDC B
Weight
0.72

Abstract

Recent European studies present persistently critical views of the under performance of government-backed venture capital (GVC) schemes when compared to their private sector counterparts. However, they assess the performance of outmoded funding models and fail to contextualise the economic development role of these schemes. This paper provides a contemporary assessment of the business impacts of the UK government’s flagship Enterprise Capital Funds VC scheme in addressing the sub-£2 m equity finance gap facing young potential high-growth businesses requiring investments. Supply and demand-side evidence is presented from interviews with ECF fund managers, alternative private VCs, industry experts and surveys of successful and unsuccessful scheme applicants. We find that, despite the limitations of mid-scheme evaluation, Enterprise Capital Funds are addressing the UK equity gap and delivering business employment, revenue and innovation impacts. However, further progress is required in order to achieve optimal business exits and sustainable early stage private VC system impacts.

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https://doi.org/https://doi.org/10.1177/0263774x15625995

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@article{robert2016,
  title        = {{An assessment of the business impacts of the UK’s Enterprise Capital Funds}},
  author       = {Robert Baldock},
  journal      = {Environment and Planning C: politics and space},
  year         = {2016},
  doi          = {https://doi.org/https://doi.org/10.1177/0263774x15625995},
}

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An assessment of the business impacts of the UK’s Enterprise Capital Funds

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Evidence weight

0.72

Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40

F · citation impact0.97 × 0.4 = 0.39
M · momentum0.72 × 0.15 = 0.11
V · venue signal0.50 × 0.05 = 0.03
R · text relevance †0.50 × 0.4 = 0.20

† Text relevance is estimated at 0.50 on the detail page — for your query’s actual relevance score, open this paper from a search result.