Small technology firms that have received corporate venture capital are nearly 60 times more likely to export their products than other firms in the same industry, according to a study released Thursday by the Small Business Administration's Office of Advocacy.
Typically, VC-backed tech firms derive more than 10 percent of total revenue from the export market, the study found. It also showed that corporate venture capital is more likely to go to technology firms that are slightly older, larger and more established.
According to Chad Moutray, the agency's chief economist, the findings show smaller tech firms with an export-driven business model would be "well advised to actively seek corporate venture capital financing."
- next -