The Funding Gap. Eine Analyse der Ursachen zur Entstehung einer Finanzierungslücke bei deutschen Wachstumsunternehmen
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Bachelorarbeit aus dem Jahr 2014 im Fachbereich BWL - Investition und Finanzierung, Note: 1,6, Hochschule für Wirtschaft und Umwelt Nürtingen-Geislingen; Standort Geislingen (Fakultät Wirtschaft und Recht), Veranstaltung: Investition und Finanzierung, Corporate Finance und Risikomanagement, Sprache: Deutsch, Abstract: Diese Arbeit beschäftigt sich mit der Anzahl der Venture-Capital-Finanzierungen auf dem deutschen Markt. Meist noch vor der gesellschaftsrechtlichen Unternehmensgründung benötigen junge Unternehmen gro e Anfangsinvestitionen, um die eigene Marktfähigkeit herstellen oder ihre Geschäftsidee verwirklichen zu können. Als Gründer jedoch sind die eigenen finanziellen Mittel gering und die Position gegenüber Fremdkapitalgebern schwach. Deshalb erlie das Bundesministerium für Wirtschaft und Technologie (BMWi) im Mai 2013 eine Richtlinie, um Investoren einen Zuschuss zur Bereitstellung von Wagniskapital zu gewähren. Ziel ist die Förderung der StartUp-Finanzierung, vornehmlich durch Business Angel. Es soll die Bereitschaft privater Investoren gefördert werden, sich in Jungunternehmen einzubringen, sowohl finanziell als auch in beratender Funktion. Auch neue Finanzierungswege lassen die Anzahl erfolgreich finanzierter Start-Ups steigen. Zu nennen ist hier z. B. das crowd funding. Eine Anschlussfinanzierung, aufbauend auf die erste Finanzierungsphase, erhalten hingegen weit weniger Unternehmen. Der Anschlussfinanzierung erfolgreicher StartUps durch sog. Venture Capital-Gesellschaften (VCGen) schenken weder die erlassene Richtlinie, noch die modernen Möglichkeiten der Frühphasenfinanzierung Beachtung, obwohl gerade diese Gesellschaften über beachtliches Kapital verfügen. Die entstehende Situation, in Fachkreisen Finanzierungslücke genannt, wird in der vorliegenden Arbeit gleicherma en als Funding Gap bezeichnet. Sie befasst sich eingehend mit der These, dass die geringe Anzahl an Venture Capital-Finanzierungen der Grund für die niedrige Quote erfolgreicher An
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