21 START-UP CAPITAL (1/2) Technology commercialization process is in emergence phase, usually need investment that is difficult to be given by a bank loan, because: –Innovation products still dont have reliable markets ( innovation based) –Investment is needed in the long run –New company usually doesnt have track record (not solid business road map) and minimal business system development (lack of qualified management to develop business plan), as well as less physical asset for collateral To develop technology-based industry in emergence phase - need early- stage financing to help new industry: –To prove concept and develop business plan –To develop products and to explore potential market –To make limited production
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