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L'entrepreneur et l'investisseur en capital dans les systèmes territoriaux d'innovation : Recherche appliquée aux pôles de compétitivité de Lyon, Grenoble et chambéry.

Abstract : In a context where new firms, innovation and the development of innovative region are a main concern of both national and regional public policies, the question of their articulation remains in debate. In the literature, many papers study either the contribution of venture capital to the emergence of clusters and their development or the contribution of the entrepreneur to the economic development of a territory. The relationship between these actors associated with innovation and the territory is rarely studied. The main objective of this thesis is to show that the venture capitalist and the entrepreneur are two essential elements of the functioning of innovative territories; and that there is a two-way relationship between these actors and the territory. Namely, innovative territories are favorable to the presence of entrepreneurs and venture capitalists and to the well-functioning of their relationship. In return, entrepreneurs associated with venture capitalists in a duo generate positive externalities for the territory and enrich the knowledge base of the territory. In this thesis, we study the venture capitalist-entrepreneur relationship from the point of view of a duo that produces resources for the territory, called the "venture capitalist-entrepreneur duo" that we define as the set of interactions, networking and mutual learning between venture capitalists and entrepreneurs. To go beyond the duo's contribution to economic development in term of firms' creation. We analyse the duo's contribution to territorial knowledge capital, which is defined as the knowledge base produced, possessed and used by the set of local enterprises and institutions. The approaches mobilized to build the theoretical framework of the thesis are integrated in the economic and managerial theories of the entrepreneur, the innovation and the territory. The empirical analysis is based on the competitiveness clusters of Lyon Grenoble Chambéry (LGC). The choice of the competitiveness clusters has been justified by a statistical analysis. A quantitative database has been built for this purpose. It brings together consolidated information on 172 new firms in the seven clusters concerned, on the innovation processes and on the venture capital financing of these firms. The analysis is also based on the completion of two qualitative surveys within 15 entrepreneurs and 12 venture capitalists. The quantitative analysis shows that the process of transforming knowledge into firms by entrepreneurs works within LGC's competitiveness clusters. Venture capitalists are very active among entrepreneurs in the clusters and enable the transformation of knowledge into new firms. The clusters promote the linking of entrepreneurs and venture capitalists. The relastionship between entrepreneur and venture capitalist is based on the financial interest, the trust, and the search for the success of the firms. It bases its functioning on networking, learning and interactions. Entrepreneurs and venture capitalists share knowledge. Entrepreneurs and VCs produce codified scientific and technical knowledge as measured by patents and tacit knowledge that provides a local knowledge base on venture capital and creates tools to improve the relationship functioning. The thesis shows the advantage that venture capitalists may have in syndicating formally and informally, and the importance of creating local synergies between entrepreneurs. With regard to public policies, the thesis shows the interest for public actors to promote all the actions allowing the connections and the collaborations between venture capitalists and entrepreneurs in the clusters of competitiveness with a view to fulfill the objective of not only producing knowledges but also products.
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Submitted on : Monday, April 29, 2019 - 2:35:09 PM
Last modification on : Friday, October 23, 2020 - 4:58:15 PM


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  • HAL Id : tel-02114215, version 1



Hélène Perrin Boulonne. L'entrepreneur et l'investisseur en capital dans les systèmes territoriaux d'innovation : Recherche appliquée aux pôles de compétitivité de Lyon, Grenoble et chambéry.. Economies et finances. Université du Littoral Côte d'Opale, 2018. Français. ⟨NNT : 2018DUNK0493⟩. ⟨tel-02114215⟩



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