11.07.2015 Views

pobierz - Wydział Nauk Ekonomicznych SGGW w Warszawie

pobierz - Wydział Nauk Ekonomicznych SGGW w Warszawie

pobierz - Wydział Nauk Ekonomicznych SGGW w Warszawie

SHOW MORE
SHOW LESS

Create successful ePaper yourself

Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.

Table no. 3 Overview of suitable financing stages, investment period andgeographicaleligibility within the Venture Capital FundsVenture capital fundsStart-upCapitalFundRegionalStart-upCapitalfundsINTEGFundSISMEFundSeedCapitalFundSlovakStart-upFundSlovakDevelopmentFundSuitablefinancingstagesInvestmentperiod inyearsGeographicaleligibilityseed, start seed, startup, up,development developmentflexibile1- 5SlovakRepublicflexibile1- 5SR – BanskaBystrica,Zilina,Presov andKosiceregionsseed, startupflexibile1- 5SR –BratislavaandTrnavaregionsSource: “Fond fondov, s.r.o.” own elaborationseed, startupmaximum1 - 5SlovakRepublicseed1 - 5SlovakRepublicstart up,developmentflexibile1- 4SlovakRepublicstart up,developmentMid-termhorizont2 - 5The seat andcore businessof thecompanymust be inSRTable no. 3 contains overview of suitable stages, investment period andgeographical eligibility within the individual venture capital funds existing in the Slovakrepublic. The most suitable financing area is start up financing area and investmentperiod is in the range 1 – 5 years. Geographical eligibility within the venture capitalfunds is all area of the Slovak republic with the exception of Regional Start-up Capitalfunds, INTEG Fund and Slovak Development Fund with geographical eligibility inselected regions of the Slovak Republic.The venture capital can be formal, i.e. venture capital funds come from institutionalinvestors or informal, i.e. venture capital funds come from companies and privatepersons 6 . Venture capital funds in the competence of the National Agency forDevelopment of Small and Medium Enterprises are not the only venture capital funds inthe Slovak republic. In addition to these funds, private funds as Slovak-AmericanEnterprise Fund – SAEF, VenCorp Slovakia and Genesis Capital there exist. Thesefunds also provide the venture capital investments for small and medium enterprises.Slovak-American Enterprise Fund (SAEF) is successor of the Czech and SlovakAmerican Enterprise Fund. These funds strengthen development of enterprises generallyin three main areas:6 SPIŠÁKOVÁ, E.: Rizikový kapitál - inovatívny finančný nástroj, Financial markets,journal for theory and practice of financial markets, 2010, Available online, [cited 2011-03-08]202

Hooray! Your file is uploaded and ready to be published.

Saved successfully!

Ooh no, something went wrong!