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Issues and policy framework for the development of self-sustainable venture capital markets in Europe

This study by Graham Cope of the Luxembourg School of Finance asserts the need to recognise that the goal for national and EC policy makers should now be that of the creation of a fully self-sustainable venture capital market across Europe.

Secondly, this study provides a method of assessment of the current status of each country relative to each other and against the context of the ultimate goal. This then leads to a discussion of closely related issues before proposing a way forward for developing healthy and sustainable Venture Capital markets across Europe.

In historical terms, this could be expressed in terms of defining what more could the Spanish Monarchy have done to ensure that their investment in Columbus would be profitable. As the role of the state is increasingly under review in this area, this study is intended to stimulate discussions within and between European countries and with European Commission officials.

The need for concerted and concentrated action in this field is paramount as Europe struggles with itself in meeting its own targets as set out in the Lisbon Agenda in 2000 and reinforced at the recent European Council meeting in Brussels in March 2005.

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