The The role of environmental determinants and institutional in the financing of small and medium-sized enterprises by innovative risk capital

Abdelkader Belhadi, Azzeddine Nezai, Samir Sahnoune

Abstract

Global knowledge-based economy and innovation to funding sources in order to create and stimulate small enterprises need medium to embody the ideas of innovative and converted from laboratory ideas into commercial products, and in this context, emerged as the financing pattern of these innovative ideas called "risk capital, which received success in many industrial and developing countries. several studies indicate that the institutional environment has a pivotal role in the development of this type of funding, and therefore the development of risk capital in developing countries stems without doubt the development of human capital locally capable of creativity. it should open the Options thief Pension Funds and Insurance Investment in financial Mujdadtha in investment funds with capital risk.