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Comparing catalysts of change: evolution and institutional differences in the venture capital industries in the US, Japan and Germany

How have the venture capital industries evolved in the US, Germany and Japan? Walter Kuemmerle, a Harvard Business School professor, compares their development and explains how other countries can learn from the US model.

Private initiatives, a competitive science infrastructure and a favourable legal environment lay the foundations for the US model. Meanwhile, in Germany and Japan, the industry development was held up by regulatory barriers. By the time these had been removed, venture capital in the US had become fully established and had matured significantly.

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© Copyright 2002 Walter Kuemmerle. All rights reserved.

For more information please contact, Walter Kuemmerle, 001 617 495 63653