La conférence « Financing and Governance of Innovative Companies » s’est déroulée comme prévu le 30 mars 2017 à l’IAE de Dijon. Elle était co-organisée par le RITM et le CREGO. Au total, une dizaine d’articles de recherche (en anglais ou en français) ont été présentés. Un numéro spécial de la revue de l’entrepreneuriat (rang 2 FNEGE) fera suite à cette conférence. Les rédacteurs invités étaient Philippe DESBRIERES et Emmanuelle DUBOCAGE.
Fatima SHUWAIKH, doctorante du RITM, a participé à ce colloque en présentant son papier “Fund Size, Duration, Valuation, Performance and Innovation: what differences between Corporate and Independent Venture Capital-Backed Start-Ups?
The recent researches have inspected the value added to the portfolio companies which is provided by their venture capitalists. In the last recent years, corporate venture capitalists play a significant and important force affecting the venture capital world in the advanced strategic agendas which are different from those of independent venture capitalists. The framework in this paper is to study the impact of being funded by CVC or IVC and to compare the fund size, duration, valuation and performance for start-ups backed by corporate venture capital and independent venture capital in a systematic analysis. Moreover, we analyze how CVCs differ from IVCs in nurturing innovation in the start-ups which are backed by them. The availability of CVC funding leads the start-ups to a higher level of innovation (measured by their patenting), to receive larger fund size, to stand up for a longer duration before exiting and more frequently to a successful exit route in a highly portfolio performance.