The current unsustainable practices in production and energy consumption have given rise to a thriving market in clean technology, which revolves around technological innovation and enhanced environmental sustainability. Clean technology encompasses products, services, and processes that provide value while minimizing resource usage and reducing pollution levels compared to existing standards. These emerging technologies offer both unique opportunities and challenges for investors. Clean technology projects are typically seen as contributing to the public good by promoting a cleaner environment and generating positive externalities. Cleantech investments are known for their capital-intensive nature and the significant technological risks involved. During this risky phase of cleantech ventures, venture capital (VC) investments become a crucial source of funding. This paper aims to provide a comprehensive understanding of the cleantech sector, its importance, and the driving forces behind its rapid growth. It will also delve into the key characteristics of cleantech investments, the evaluation criteria used by venture capitalists when selecting firms for investment, and, most importantly, the impact of VC investments on cleantech companies. Existing literature has already highlighted the compelling finding that VC-backed cleantech firms tend to experience faster growth compared to those that do not receive VC backing. This phenomenon will be further explored and validated through linear regression analysis in this study
Le attuali pratiche insostenibili nella produzione e nel consumo di energia hanno dato vita a un fiorente mercato della tecnologia pulita, che ruota attorno all'innovazione tecnologica e a una maggiore sostenibilità ambientale. La tecnologia pulita comprende prodotti, servizi e processi che forniscono valore minimizzando l'uso delle risorse e riducendo i livelli di inquinamento rispetto agli standard esistenti. Queste tecnologie emergenti offrono opportunità e sfide uniche per gli investitori. I progetti di tecnologia pulita sono generalmente considerati un contributo al bene pubblico, in quanto promuovono un ambiente più pulito e generano esternalità positive. Gli investimenti cleantech sono noti per la loro natura ad alta intensità di capitale e per i notevoli rischi tecnologici che comportano. In questa fase di rischio, gli investimenti in venture capital (VC) diventano una fonte di finanziamento fondamentale. Il presente documento si propone di fornire una comprensione completa del settore cleantech, della sua importanza e delle forze trainanti della sua rapida crescita. Approfondirà inoltre le caratteristiche principali degli investimenti cleantech, i criteri di valutazione utilizzati dai VC per selezionare le aziende su cui investire e, soprattutto, l'impatto degli investimenti di VC sulle aziende cleantech. La letteratura esistente ha già evidenziato l'interessante risultato che le imprese cleantech sostenute da VC tendono a crescere più rapidamente rispetto a quelle che non ricevono il sostegno di VC. Questo fenomeno sarà ulteriormente esplorato e convalidato attraverso un’analisi di regressione lineare in questo studio.
The role of venture capitalists in financing cleantech firms. A cross-sectional study on growth perspectives
Milillo, Alessandra
2022/2023
Abstract
The current unsustainable practices in production and energy consumption have given rise to a thriving market in clean technology, which revolves around technological innovation and enhanced environmental sustainability. Clean technology encompasses products, services, and processes that provide value while minimizing resource usage and reducing pollution levels compared to existing standards. These emerging technologies offer both unique opportunities and challenges for investors. Clean technology projects are typically seen as contributing to the public good by promoting a cleaner environment and generating positive externalities. Cleantech investments are known for their capital-intensive nature and the significant technological risks involved. During this risky phase of cleantech ventures, venture capital (VC) investments become a crucial source of funding. This paper aims to provide a comprehensive understanding of the cleantech sector, its importance, and the driving forces behind its rapid growth. It will also delve into the key characteristics of cleantech investments, the evaluation criteria used by venture capitalists when selecting firms for investment, and, most importantly, the impact of VC investments on cleantech companies. Existing literature has already highlighted the compelling finding that VC-backed cleantech firms tend to experience faster growth compared to those that do not receive VC backing. This phenomenon will be further explored and validated through linear regression analysis in this studyFile | Dimensione | Formato | |
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2023_10_MILILLO_01.pdf
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Descrizione: Thesis
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2023_10_MILILLO_02.pdf
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Descrizione: Executive Summary
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https://hdl.handle.net/10589/211127