Policymakers have become increasingly involved in fostering entrepreneurial activity, especially in science-based sectors. The many studies on policy measures and initiatives implemented to support science-based entrepreneurship constitute several lines of research that have not yet been integrated. Drawing primarily upon refereed articles on entrepreneurship, entrepreneurial finance, and management, our review covers four areas: (i) factors fostering the establishment of science-based entrepreneurial firms; (ii) policies fostering the establishment of science-based entrepreneurial firms; (iii) the financing of science-based entrepreneurial firms; and (iv) policies fostering the provision of finance to science-based entrepreneurial firms. This literature review describes the scope of scholarly inquiry into these topics by providing a systematic overview of the most relevant research findings and then identifies lines for future investigation.
The objective of Policies for the Provision of Finance to Science-Based Entrepreneurship is to survey the policies implemented to foster the establishment of science-based firms and finance their growth. First, the authors examine the literature on science-based entrepreneurial firms. Second, they describe policies for fostering the establishment of science-based entrepreneurial firms. Third, the authors move to the financing problems of science-based entrepreneurial firms and review the literature on how these firms can manage to overcome their financial constraints. Fourth, they conclude by discussing the policies aimed at fostering the provision of finance to science-based entrepreneurial firms. Finally, a brief section concludes the review by discussing the main recent political developments, namely “Trumpism” and Brexit, and their impact on the global market.