How and why are the sources of start-up finance for innovative small firms changing?

How and why are the sources of start-up finance for innovative small firms changing?

How and why are the sources of start-up finance for innovative small firms changing? What are the theoretical arguments for why one particular source of start-up finance is useful to new firms?.
the paper should be based on the lecture, so i will attach all the slides and info they provide us with all the essential readings to write upon: Lecture: Building Innovative Small Firms: Financing Entrepreneurship and Innovation
• Funding innovation and entrepreneurship
• Business angels and other early stage finance mechanisms
• Stages of new venture development
• Sequences of new venture financing
• Due diligence
• Venture capital
Core Readings:
BVCA (2004) ’BVCA Report on Investment Activity 2004 London:BVCA
Cressy, R ‘Venture Capital’ Chapter 14 in M. Casson, B Yeung, a.Basu and N. Wadeson (eds) The Oxford Handbook of Entrepreneurship Oxford:OUP 353-386
Politis, D (2008) ‘Business Angels and value added: what do we know and where do we go?’ Venture Capital 10, 2 127-147
Rossiello, A and Parris, S (2009) ‘The patterns of venture capital investment in the UK bio-healthcare sector: the role of proximity, cumulative learning and specialisation’ Venture capital 11, 3 185-211
Mason, C and Harrison, T (2004) ‘Does investing in technology-based firms involve higher risk? An exploratory study of the performance of technology and non-technology investments by business angels’ Venture Capital 6, 4 312-331
Oakey, R (2003) ’Funding innovation and growth in UK new technology-based firms: some observations on contributions from the public and private sectors’ Venture Capital: An International Journal of Entrepreneurial Finance 5,2 161-179
Martin, R, Berndt, C, Klagge, B and Sunley, P (2005) ’Spatial proximity Effects and Regional Equity gaps in the venture capital Market: Evidence from Germany and the UK’ Environment and Planning A 37, 7 1207 – 1231
Wray, F (2012) ’Rethinking the venture capital industry: relational geographies and impacts of venture capitalists in two UK regions’ Journal of Economic Geography 12, 1 297-320
Belleflamme, P, Lambert, T Schwienbacher, A (2013) Crowdfunding: Tapping the right crowd Journal of Business Venturing http://perso.uclouvain.be/paul.belleflamme/papers/JBV2013.pdf
Macht, S M and Weatherstone, J (2014) The Benefits of Online Crowdfunding for Fund-Seeking Business Ventures Strategic Change: Briefings in Entrepreneurial Finance, 23, 1–14
http://onlinelibrary.wiley.com/doi/10.1002/jsc.1955/full
Recommended Readings:
Sexton and H. Landstrom (eds) The Blackwell Handbook of Entrepreneurship Oxford:Blackwell 64-82 Part III Financing Growth, Chapters by Donkells, Mason and Harrison, Manigart and Sapienza, Amit, Brander and Zott
Nadeau, P. (2010) ‘Venture capital investment selection: do patents attract investors?’ Strategic Change: Briefings in Entrepreneurial Finance, 19: 325-342.
Ahlers, G K C, Cumming, D, Gunther, C and Schweizer, D (2012) ‘Signalling in Equity Crowdfunding‘ Working paper

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