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From Start-Up to Scale-Up
Report

From Start-Up to Scale-Up

Examining Public Policies for the Financing of High-Growth Ventures

Gilles Duruflé, Thomas Hellman and Karen Wilson
Bruegel, 2017
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Editorial Rating

8

Qualities

  • Comprehensive
  • Well Structured
  • Background

Recommendation

High-growth companies, particularly in technology, the life sciences and biotech, have driven American innovation and economic dynamism for several decades. More recently, Canada and Europe have come to match the United States in the number of start-ups. But experts Gilles Duruflé, Thomas Hellmann and Karen Wilson look beyond the start-up phase to analyze the structural differences among the “scale-up ecosystems” of the United States, Canada and Europe. getAbstract recommends this comprehensive and accessible report to entrepreneurs, investors, policy makers and financiers for its blueprint on preparing the next generation of tech giants.

Take-Aways

  • Once start-ups successfully establish a market presence and experience rapid growth, they become “scale-ups.”
  • Scale-ups wanting to remain independent typically seek funding from “venture equity” sources that have “deep pockets, smart money, networks” and “patient money.”
  • In the United States in 2014, just 20% of scale-ups opted for IPOs. Scale-ups most frequently look for acquirers to purchase their businesses.

About the Authors

Gilles Duruflé heads the QCC Public Policy Forum on Venture Capital and Innovation. Thomas Hellmann is a professor at the University of Oxford. Karen Wilson is a senior fellow at Bruegel.

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