Rizikos kapitalo vaidmuo inovacijų vystyme

Abstract

The development of the active and efficient venture capital sector, which finance companies in early stages and especially high-tech sectors, is becoming one of the main themes in public policy formation. Venture capital is important ensuring sustainable growth and the increase of employment. Considering the impact venture capital could make on the long-term economic growth, most of the European countries have pointed the development of venture capital as one of the major priorities. Also, one of the most important elements for development of economics, competitiveness and value-added issues is innovation. Without innovations, knowledge creation it is impossible to reach new results, create new advanced technologies, renew and enlarge the potential of entrepreneurship. Research and development, innovative activities help progressive economy, ensure dynamism of economical structure, stimulate and show all potential of human capital, increase the productivity. The main purpose of this paper is to present the relationship between innovations and venture capital and their importance to the countries development, to analyze innovation performance results in EU countries and provide initial insights with regard to public initiatives for the venture capital sector creation and development The research shows, that the EU innovation performance is not dynamic enough and its necessary to push forward knowledge creation, develop human resources, create innovations in order to maintain and improve the living standards in EU countries. There is a need understand young, innovative enterprises needs and stimulate countries to promote innovations as demand of venture capital sector. The means and instruments of public policy for venture capital sector development are not efficient, especially employing instruments only for venture capital supply. Public policy must be orientated to innovation promotion, the creation and stimulation of innovation system in countries, because the development of innovative activities and new technologies fosters potentially profitable entrepreneurial companies birth and expansion. These entrepreneurial companies are the main target for venture capital investors. The investment to research and development, not direct investments into venture capital funds, stimulate innovative ideas creation and innovative projects implementation and abilities to take entrepreneurial opportunities. By this direction, existing potential of innovative companies in the country would stimulate the demand of venture capital and naturally raise new pools of money for venture capital funds, increasing the supply of venture capital.