Raleigh, NC, May 08, 2015 --(PR.com
)-- The Social Science Research Network (SSRN), the world’s largest repository of scholarly economic articles, with over 280,000 authors and more than 1.7 million users, cited an article by Thomas Vass as one of the most widely read in the world in one of SSRN’s specialized research networks.
SSRN informed Vass this week that his paper, "Will More Venture Capital Spur Regional Innovation?" was recently listed on SSRN's Top Ten download list for: PSN: International Lending (Topic). Vass, Thomas E., Will More Venture Capital Spur Regional Innovation? (September 17, 2008). Private Capital Market Working Paper No. 2008-08-04. Available at SSRN: http://ssrn.com/abstract=1269405
In his 2008 article, Vass addressed the relationship between an increase in a region's factor endowment of venture capital and regional rates of innovation. Vass concluded that in order to promote increased rates of regional innovation, that radical innovations will need a full-blown, comprehensive private capital market mechanism that facilitates secondary securities transactions that allow entrepreneurs to continue to build successful independent companies.
“The key economic development policy issue for elected leaders is how to promote greater rates of regional technological innovation, and product commercialization,” said Vass. “Way back in 2008, I thought that the idea of regional capital crowdfunding was one mechanism to promote innovation, and that the focus on getting more venture capital was misplaced,” Vass said.
As he noted in his article, “A better question to ask than the one about increasing the supply of venture capital in a region is the question about how to create and administer regional private capital markets that allow small firms to trade small amounts of private capital, both debt and equity. More venture capital will not likely spur regional innovation, while better regional private capital markets will.”
“As a way of moving forward on regional accredited investor crowdfunding that links capital to regional technology clusters, I have been creating a new type of accredited investor crowdfunding platform called The Private Capital Market,” Vass noted.
About Thomas E. Vass. Vass is currently ranked in the top 1.5% of 280,065 economists who publish on the SSRN platform. He is a registered investment advisor, and provides advice to technology executives on managing and marketing both the new Reg D and new Reg A private offerings.