Cambridge Project leader: Andrea Mina
Other Principal Investigators: Alan Hughes and Stan Metcalfe
Research Fellow: Jocelyn Probert, Samantha Sharpe
Collaborating Institutions: The Open University (UK), Sant'Anna School of Advanced Studies (Italy), Polytechnic of University of Marche (Italy), Economics Institute (Czech Republic), University of Bordeaux (France), University of Sussex (UK)
Project dates: 2009-2011
Funding: European Commission, FP7
Aims and Objectives
The CBR is leading the EC FP7 FINNOV consortium activities on 'Capital Markets and Innovation: Financing Business Experimentation in Europe' (WP 3). This work package aims to understand the interactions between innovation and innovation financing and the ways in which innovation finance policy instruments can match the needs of heterogeneous economic and business contexts. Andrea Mina and Samantha Sharpe completed reviews of the literatures and data on venture capital and corporate venture capital. Hughes (with Desyllas of Manchester Business School) explored the links between takeovers and private and public quoted company innovation performance. Jocelyn Probert is developing an in-depth study of the corporate venturing process and its relationship with firm (investor and investee) behaviours. Targets include Unilever, BASF, Dow, Novartis, Siemens and Intel. Recruitment is ongoing for a new Research Fellow to join the CBR team and contribute to the quantitative part of our research programme.
The key themes that will be explored across 7 empirical Work Packages (WP) are:
CBR papers were presented at the 2010 FINNOV Conference organised by Prof. Mariana Mazzucato and Prof. Giovanni Dosi at the Sant'Anna School of Advanced Studies (13-14 May, Pisa). Among the follow-up initiatives, after his participation at the EC FP7 FINESS (Financial Systems, Efficiency and Stimulation of Sustainable Growth) Workshop held at the Berlin-Brandenburg Academy of Sciences in 2009, Andrea Mina was invited external discussant at EC FP7 VICO Conference held at Politecnico di Milano on 8 July 2010. In June 2010 FINNOV was one of very few EC projects to be invited to the EC 2020 Meeting (Brussels) to discuss the implementation strategy of the new EC policy agenda.
The FINNOV Final Conference: Financing Innovation and Growth: Reforming a Dysfunctional System of the FP7 FINNOV project (Finance, Innovation & Growth, www.finnov-fp7.eu) took place on 1st and 2nd February 2012 in the House of Commons (Day 1) and the Italian Cultural Institute (Day 2) in London. The conference focused on the need for finance to be reformed so that it serves innovation and value creation - rather than innovation serving finance and too much value destruction. Our motto is: finance for creative destruction not destructive creation. Further details here.
For further details contact Andrea Mina or visit the