Estado e capital de risco: o caso de Israel

Abstract

News media specialized in economics show a growing interest in entrepreneurship and innovation activities as a way of breaking through the stagnation cycle of the global economy since the 2008 crisis. The “capital for risky ventures”, term for which became known the venture capital in Brazil, is seen as one of the most efficient financing instruments to promote those activities. In Israel, country which presented an accelerated growth in recent decades, venture capital has been a major factor among those used to boost the local economy. The purpose of this graduation thesis is to offer a general overview about the development of the venture capital market in Israel, the focus being on the government role, which benefits came with this development and what was the strategy used by the public sector to promote the venture capital industry. Besides that, this paper sought to demonstrate why the venture capital is seen as one of the best instruments to promote technological innovations on start ups and small enterprises. As final considerations arises that the government was essential to the development of the venture capital market in Israel and that local policy makers from other countries should try to replicate these achievements as a way of promoting economic growth.