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The alignment between an external financier and an innovator entrepreneur fails to materialize when the investor in question is a venture capitalist.
The paper projects the contribution to 2011 2015 international targets of three major pandemics by programs in 140 countries funded by the Global Fund to Fight AIDS, Tuberculosis and Malaria, the largest external financier of tuberculosis and malaria programs and a major external funder of HIV programs in low and middle income countries.
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"One way to do that is to import the knowledge of external financiers.
Since the owners know more about the patents than potential external financiers, problems related to asymmetrical information are present.
In fact, the research shows that not all external financiers have a significant cultural distance from innovator entrepreneurs.
In summary, the comparison between the views of innovator entrepreneurs and external financiers regarding information reveals the following: 1.
In particular, the authors intend to investigate the information dynamics between the innovator entrepreneur and external financiers.
The distance between innovator entrepreneurs and external financiers becomes particularly relevant when the financing relationship involves credit intermediaries.
These data indicate that the information distance between these external financiers and the entrepreneurs is not so high.
The interviews with external financiers and innovator entrepreneurs confirmed a different attitude towards these subjects with regard to quantitative and qualitative information.
In particular, the survey revealed special attention by external financiers involved in the pre-seed and seed capital stages of innovative projects (business angels and public funders) to qualitative information (hypotheses H.1 and H.2 confirmed).
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