| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w29919 |
| 来源ID | Working Paper 29919 |
| The role of Venture Capital and Governments in Clean Energy: Lessons from the First Cleantech Bubble | |
| Matthias van den Heuvel; David Popp | |
| 发表日期 | 2022-04-11 |
| 出版年 | 2022 |
| 语种 | 英语 |
| 摘要 | 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. |
| 主题 | Financial Economics ; Financial Institutions ; Environmental and Resource Economics ; Energy ; Environment |
| URL | https://www.nber.org/papers/w29919 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/587592 |
| 推荐引用方式 GB/T 7714 | Matthias van den Heuvel,David Popp. The role of Venture Capital and Governments in Clean Energy: Lessons from the First Cleantech Bubble. 2022. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w29919.pdf（722KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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