Emergence Of Cleantech As An Investment Category Public Discourse And Venture Capital Investment
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Emergence Of Cleantech As An Investment Category Public Discourse And Venture Capital Investment
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Author : Michael Migendt
language : en
Publisher:
Release Date : 2019
Emergence Of Cleantech As An Investment Category Public Discourse And Venture Capital Investment written by Michael Migendt and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with categories.
In our paper we observe with an extensive database of press articles about venture capital the emergence and following evolution of the topic clean technology investing. We match our software-based analysis of the press discourse with investment data and observe high synchronicity of the developments of the two datasets. We demonstrate that historical textual information holds as a viable proxy for analyzing circumstances with a lack of rich data. An industry life cycle model can be applied to the development of this investment category. Additionally we develop an understanding of the role of public discourse in the venture capital industry and look at consequences of tone and sentiment in the media data.
Venture Capital And Cleantech
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Author : Benjamin Gaddy
language : en
Publisher:
Release Date : 2016
Venture Capital And Cleantech written by Benjamin Gaddy and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.
Venture capital (VC) firms spent over $25 billion funding clean energy technology (cleantech) start-ups from 2006 to 2011. Less than half of that capital was returned; as a result, funding has dried up in the cleantech sector. But as the International Energy Agency warns, without new energy technologies, the world cannot cost-effectively confront climate change. In this article, we present the most comprehensive account to date of the cleantech VC boom and bust, aggregating hundreds of investments to calculate the risk and return profile of cleantech, compared with those of medical and software technology investments. Cleantech posed high risks and yielded low returns to VCs. We conclude that “deep technology” investments -- in companies developing new hardware, materials, chemistries, or processes that never achieved manufacturing scale -- drove the poor performance of the cleantech sector. We propose that broader support from policymakers, corporations, and investors is needed to underpin new innovation pathways for cleantech. Public policy can directly support emerging technologies by providing easier access to testing and demonstration facilities and expanding access to non-dilutive research, development, demonstration, and deployment (RDD&D) funding. The public sector can also encourage new investors and corporations to invest in cleantech innovation. Corporate strategic investment in emerging technologies coupled with deep sector-specific expertise can accelerate scale-up and provide access to markets. And non-VC investors willing to supply substantial capital for a decade or more are more likely to reap satisfying returns in the long run, if they work with those partners to help develop and de-risk technology.
Accelerating Green Innovation
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Author : Michael Migendt
language : en
Publisher: Springer
Release Date : 2017-02-03
Accelerating Green Innovation written by Michael Migendt and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-02-03 with Business & Economics categories.
Michael Migendt explains the role of alternative investments in supporting the growth of a sustainable economy and recognizes levers that policy makers, managers and entrepreneurs could use for further accelerating green innovation through finance. He focuses on specific examples of alternative investments into green industries, companies, projects, and infrastructure, covering the developments along the innovation chain. Especially the acceleration of green technologies and the in this context occurring interrelations between the three areas of finance, innovation, and policy are key to this work.
The Role Of Venture Capital And Governments In Clean Energy Lessons From The First Cleantech Bubble
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Author : Matthias van den Heuvel
language : en
Publisher:
Release Date : 2022
The Role Of Venture Capital And Governments In Clean Energy Lessons From The First Cleantech Bubble written by Matthias van den Heuvel and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022 with categories.
After a boom and bust cycle in the early 2010s, venture capital (VC) investments are, once again, flowing towards green businesses. In this paper, we use Crunchbase data on 150,000 US startups founded between 2000 and 2020 to better understand why VC initially did not prove successful in funding new clean energy technologies. Both lackluster demand and a lower potential for outsized returns make clean energy firms less attractive to VC than startups in ICT or biotech. However, we find no clear evidence that characteristics such as high-capital intensity or long development timeframe are behind the lack of success of VC in clean energy. In addition, our results show that while public sector investments can help attract VC investment, the ultimate success rate of firms receiving public funding remains small. Thus, stimulating demand will have a greater impact on clean energy innovation than investing in startups that will then struggle through the “valley of death”. Only with demand-side policies in place should governments try to plug funding gaps by targeting clean energy startups with low potential for outsized returns that will continue to find it hard to attract private capital.
Cleantech Venture Capital Around The World
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Author : Douglas J. Cumming
language : en
Publisher:
Release Date : 2016
Cleantech Venture Capital Around The World written by Douglas J. Cumming and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.
Cleantech venture capital investment differs from the typical venture capital investment in that it tends to be very capital intensive and faces greater technology risks associated with the functioning of the technology, scalability and exit requirements than the typical venture capital investment. Moreover, unlike the typical venture capital investment, the benefits arising from cleantech cannot be totally captured by the venture capitalist as many of its benefits accrue to society via reduced environmental degradation and better health and quality of life outcomes. The public goods literature posits that such externalities reduce investment in cleantech below the socially optimal level. We seek to determine whether there are countervailing factors which may incite greater cleantech investment. We argue that oil prices, increased stakeholder attention, as well as the impact of various formal and informal institutions are such factors. This paper provides a cross-country analysis of the determinants of cleantech venture capital investment with a unique worldwide dataset of 31 countries spanning 1996-2010. The data show consistent evidence of a pronounced role for oil prices in driving cleantech venture capital deals, which is more important than other economic, legal or institutional variables. Cleantech media coverage is likewise a statistically significant determinant of cleantech venture capital investment and as economically significant as other country level legal, governance, and cultural variables. Uncertainty avoidance has a negative impact on cleantech venture capital investment, as well as a moderating effect on other variables.
The Role Of Venture Capital And Governments In Clean Energy
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Author : Matthias van den Heuvel
language : en
Publisher:
Release Date : 2022
The Role Of Venture Capital And Governments In Clean Energy written by Matthias van den Heuvel and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022 with categories.
After a boom and bust cycle in the early 2010s, venture capital (VC) investments are, once again, flowing towards green businesses. In this paper, we use Crunchbase data on 150,000 US startups founded between 2000 and 2020 to better understand why VC initially did not prove successful in funding new clean energy technologies. Both lackluster demand and a lower potential for outsized returns make clean energy firms less attractive to VC than startups in ICT or biotech. However, we find no clear evidence that characteristics such as high-capital intensity or long development timeframe are behind the lack of success of VC in clean energy. In addition, our results show that while public sector investments can help attract VC investment, the ultimate success rate of firms receiving public funding remains small. Thus, stimulating demand will have a greater impact on clean energy innovation than investing in startups that will then struggle through the "valley of death". Rather than investing themselves in startups bound to struggle through the valleys of death, governments wishing to support clean energy startups can first implement demand-side policies that make investing in clean energy more viable.
Venture Capital And Clean Technology Investment And Innovation
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Author : Daniel Silla
language : en
Publisher:
Release Date : 2013
Venture Capital And Clean Technology Investment And Innovation written by Daniel Silla and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with categories.
This paper examines venture capital investment into clean technologies. The determinants examined are government policies, venture capital trends, energy prices, and other macroeconomic variables. The history of cleantech investment is examined, and econometric methods are used to examine cleantech venture capital's relationships with energy prices, aggregate venture capital investment, and macroeconomic variables. This paper finds that government policy, oil prices, the economic outlook, and trends in venture capital investment are very important determinants of venture capital investment into cleantech. The findings suggest direct relationships between government support of cleantech, higher oil prices, and positive economic outlooks with investment into cleantech. Also, this paper finds growing trends in venture capital investment and that capital inflows into the venture capital industry has a large effect in boosting venture capital investment into cleantech.
Are You Scared Of Cleantech
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Author : Charlotte Ledgaard Steffensen
language : en
Publisher:
Release Date : 2009
Are You Scared Of Cleantech written by Charlotte Ledgaard Steffensen and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with categories.
Problem is not perceived as being as risky as before. There is an indication towards that the clean energy sector is not constrained by lack of government R&D to the same degree as it was. This could be subject for further investigation. Further, the study revealed that regulatory risk is still perceived as a problem for venture capital investment in clean energy. Regulation and government intervention can work in aid of clean energy but might also influence it in a negative direction. Moreover, an interesting finding is that the research is indicated that an exit route through a trade sale has become less of a problem for venture capital investors in cleantech. Next, this research also came to a conclusion on product market risk, which was that that the same indication applies for product market risk as for exit risk. The results of the analysis and the discussion indicate that the clean energy sector is not constrained by the fact that individuals are not willing to pay for social benefits making it difficult to gain financial value from clean energy technologies. Furthermore, the market seems to view new energy technologies with less scepticism than 6 years ago. The research has developed an increased understanding of venture capitalists' perception of the clean energy, ICT and life sciences sectors, but in particular of the clean energy sector, which this research set out to investigate.
Planetary Improvement
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Author : Jesse Goldstein
language : en
Publisher: MIT Press
Release Date : 2018-03-16
Planetary Improvement written by Jesse Goldstein and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-03-16 with Political Science categories.
An examination of clean technology entrepreneurship finds that “green capitalism” is more capitalist than green. Entrepreneurs and investors in the green economy have encouraged a vision of addressing climate change with new technologies. In Planetary Improvement, Jesse Goldstein examines the cleantech entrepreneurial community in order to understand the limitations of environmental transformation within a capitalist system. Reporting on a series of investment pitches by cleantech entrepreneurs in New York City, Goldstein describes investor-friendly visions of incremental improvements to the industrial status quo that are hardly transformational. He explores a new “green spirit of capitalism,” a discourse of planetary improvement, that aims to “save the planet” by looking for “non-disruptive disruptions,” technologies that deliver “solutions” without changing much of what causes the underlying problems in the first place. Goldstein charts the rise of business environmentalism over the last half of the twentieth century and examines cleantech's unspoken assumptions of continuing cheap and abundant energy. Recounting the sometimes conflicting motivations of cleantech entrepreneurs and investors, he argues that the cleantech innovation ecosystem and its Schumpetarian dynamic of creative destruction are built around attempts to control creativity by demanding that transformational aspirations give way to short-term financial concerns. As a result, capitalist imperatives capture and stifle visions of sociotechnical possibility and transformation. Finally, he calls for a green spirit that goes beyond capitalism, in which sociotechnical experimentation is able to break free from the narrow bonds and relative privilege of cleantech entrepreneurs and the investors that control their fate.
The Venture Capital Cycle
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Author : Paul Alan Gompers
language : en
Publisher: MIT Press
Release Date : 2004
The Venture Capital Cycle written by Paul Alan Gompers and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Business & Economics categories.
An analysis of the venture capital process, from fund-raising through investing to exiting investments; a new edition with major revisions and six new chapters that reflect the latest research.