Venture Capital as the important element of an effective economic policy of the State and the specificity of the Russia

From XIII Triple Helix Conference 2015

Venture Capital as the important element of an effective economic policy of the State and the specificity of the Russia

Elena Liserva, Professor, Head, the Department of Oriental Studies, Tomsk State University, Tomsk, Russia 

Keywords: venture capital, State policy, business angels

Business venture and its regulation are the important elements of an effective economic policy of the State in the age of global technological and financial space.  In modern terms, the cost-effectiveness and the ability of the adequately ensuring its citizens by the necessary conditions for a decent life, development and prosperity are the important identifiers of the country input into the global system. The venture market originated in the United States (the late 50-ies), and rapidly conquered all advanced countries in the field of high-tech products, participating in the global division of labor. The venture capital acquired different forms in different countries, depending on the speed of development, as well as the characteristics of the economic structure of the country. However, in any State at all stages of development the main objective of venture capital is to achieve profits through the venture capital investing into the innovative product or process.  Smooth and precise of the investment mechanism depend on such factors as legislation, taxation, financing, education, intellectual property protection, domestic demand, and infrastructure. Venture capital and venture business, in general, are regarded as the main engines of the modern development of high-tech business.  Despite the specificity of the economic development of different countries, it is necessary to study the venture sector in terms of the government regulation, as well as the combined contribution into the venture capital on a global scale.

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