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Entrepreneurship Centre

From Start-up to Scale-up - OXEPR 2015

OXEPR 2015

The 'Financing of Scale-up’ Project at Oxford Saïd is led by Professor Thomas Hellmann, the Academic Director of the Entrepreneurship Centre. It consists of several interrelated research initiatives that analyse the financial obstacles faced by growing start-ups at the important ‘scale-up’ stage.

The project looks at the origins of the scale-up problem, the challenges with the current financial architecture, and potential solutions to helping companies achieve their full growth potential, and the potential role of governments and public policies.

The research was based in part on the 1st Oxford Entrepreneurship Policy Roundtable, which took place in May 2015, under the topic of “From Start-up to Scale-up: Financing Growth”.

Take a look at the Programme and the Slide Deck for this event.

Below are the published papers relating to discussions at the Roundtable event. Click on each title to view and download the PDF file.
Globalization of Alternative Investments - WEF 2010 WEF (2010), The Global Economic Impact of Private Equity Report 2010 - World Economic Forum
Globalization of Angel Investments Lerner, J., Schoar, A., Sokolinski, S. and Wilson, K. (2015).
Financing High Growth Firms OECD (2011), Financing High-Growth Firms: The Role of Angel Investors, OECD Publishing
Financing Innovative Firms Wilson, K. E. (2015), “Policy Lessons from Financing Innovative Firms”, OECD Science, Technology and Industry Policy Papers, No. 24, OECD Publishing, Paris
The Effect of Government-Sponsored Venture Capital Brander, J.A., Du, Q., and Hellmann, T., Review of Finance (2015) 19: pp. 571–618
List of Unicorn Investors 2015 CB Insight 2015
List of 'Unicorn Investments'  CB Insight 2015
Policies for Seed and Early Stage Finance Wilson, K. and F. Silva (2013), “Policies for Seed and Early Stage Finance: Findings from the 2012 OECD Financing Questionnaire”, OECD Science, Technology and Industry Policy Papers, No. 9, OECD Publishing.
High Impact Firms: Accelerating Canadian Competitiveness  2015 Business Development Bank of Canada
High Growth Enterprises: what governments can do to make a difference OECD (2010), High-Growth Enterprises: What Governments Can Do to Make a Difference, OECD Studies on SMEs and Entrepreneurship, OECD Publishing
The Scale-up Challenge - a report by Deloitte Deloitte, November 2014
The Scale-up Report on UK Economic Growth Coutu, S., November 2014
Développer des entreprises indépendantes dans le secteur des sciences de la vie et des technologies médicales
au Québec
Duruflé, G., September 2014, Montréal InVivo Ministère de l’Économie, de l’Innovation et des Exportations Industrie Canada
European Venture Capital: Myths and Facts Working Paper, Axelson, U. and Martinovic, M., London School of Economics, November 2014
Firm Commitment: Why the corporation is failing us and how to restore trust in it Reproduced from Colin Mayer “Firm Commitment: Why the Corporation is Failing Us and How to Restore Trust in It”, Oxford University Press, 2013, pages 127-141.
Institutional Non-Bank Lending and the Role of Debt Funds Working Paper 2014/25 from EIF Research & Market Analysis
Restarting European Long-Term Investment Finance Green Paper from the Centre for Economic Policy Research (CEPR) , January 2015, CEPR Press and Assonime