Purpose

The purpose of the study is to review and understand firm selection mechanism involved in government venture capital (GVC) funding and identify key factors influencing selection of tech-based firms for GVC funding.

Design/methodology/approach

This paper is based on real-time methodology. The data was generated from interviews of 60 young applicants, who applied for startup funding, and analyzed using statistical techniques to draw the results.

Findings

This review identifies financial viability, market viability and technological innovation to have the strongest predictive ability in firm selection process of the GVC funding program for tech-based youth-owned startups in the first round of interview. This review also highlighted that social impact is not a statistically significant variable in firm selection process in GVC funding.

Originality/value

This study tests the validity of the theory of GVC based on quantitative analysis of field data and identifies key factors with strong predictive abilities for GVC funding, more particularly for the youth-owned tech-based startups. This study brings to light the mechanism adopted for GVC funding and addresses gaps in the literature relevant to firm selection mechanism in GVC programs. This study would help GVC Fund Managers to review their own GVC programs in terms of selection mechanism and help them in appropriate designing of such programs.

中文翻译：

---

政府选择为青年科技初创企业提供风险投资资金的公司

目的

本研究的目的是回顾和理解政府风险投资 (GVC) 融资中涉及的公司选择机制，并确定影响 GVC 融资的科技公司选择的关键因素。

设计/方法论/途径

本文基于实时方法。这些数据是通过对 60 名申请启动资金的年轻申请者进行采访而生成的，并使用统计技术进行分析以得出结果。

发现

本次审查确定了在第一轮面试中针对科技型青年创业公司的全球价值链资助计划的公司选择过程中，财务可行性、市场可行性和技术创新能力具有最强的预测能力。本次审查还强调，在全球价值链融资的公司选择过程中，社会影响并不是一个统计上显着的变量。

原创性/价值

本研究基于现场数据的定量分析检验了全球价值链理论的有效性，并确定了对全球价值链融资具有较强预测能力的关键因素，特别是对于年轻人拥有的科技初创企业。这项研究揭示了全球价值链资助所采用的机制，并解决了与全球价值链项目中的公司选择机制相关的文献中的空白。本研究将帮助全球价值链基金管理人从选择机制方面审视自己的全球价值链项目，并帮助他们适当设计此类项目。