Comment on 'Venture capital in Europe and the financing of innovative companies'

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Innovation across Europe: how important are institutional differences? (2011, background): “…subject matter coverage or available scope, improving enforcement) unambiguously results in an increase in patenting and also in the use of patents as a tool of firm strategy; (2) an increase in innovation due to patents is likely to be centered in some industries, namely pharmaceutical,…”
What is the effect of the financial crisis on venture capital financing? Empirical evidence from US Internet start-ups (2009, background): “VC funding has a strong positive impact on firm growth, technological development, and the evolution of innovative industries (cf. Audretsch and Thurik 2001; Bottazzi et al. 2002; Florida and Kenney 1988; Keuschnigg 2004; Kortum and Lerner 2000; Timmons and Bygrave 1986).”
Dynamics of Science-based entrepreneurship (2010, result): “In contrast, Burgel et al. (2000) find that VC backing has no impact on the growth of firms in Germany and the UK. Other studies of the growth of VC and non-VC backed firms that went to IPO also show mixed results, with Jain and Kini (1995) and Audretsch and Lehmann (2004) finding positive effects o”