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JOURNAL OF MANAGEMENT POLICY AND PRACTICE
A Conceptual Model for Developing Venture Capital in Emerging Economies
Author(s): Olutoye Oluwatimilehin Ayodeji
Citation: Olutoye Oluwatimilehin Ayodeji, (2012) "A Conceptual Model for Developing Venture Capital in Emerging Economies," Journal of Management Policy and Practice, Vol. 13, Iss. 2, pp. 101 - 111
Article Type: Research paper
Publisher: North American Business Press
Abstract:
Innovation, new ventures and entrepreneurship fuel the engine of the modern economy. Venture capital
(VC) has had tremendous impact on the world’s economy since the end of the Second World War. It plays
a pivotal role in the entrepreneurial process. It creates value by stimulating innovation in new ventures,
and sustains economic growth. This paper identifies the importance of venture capital in
entrepreneurship development, as a catalyst for innovation, technological and economic development.
The study uses an exploratory approach to gain insight into the activities of venture capitalists in
emerging economies and concludes by proposing a conceptual model for accelerating the development of
their VC industry through commercialisation of patents and intellectual property (IP).
