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Table 1
Ordinary least squares (OLS) regression results (dependent variable is firm RevenueGrowth)
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| Independent variable | Estimated coefficients |
|---|---|
| Source of funds | |
| Angel capital | 0.11971 |
| Government capital | 0.016 |
| Venture capital | 0.10122 |
| Conventional capital | 0.47511 |
| Initial public offering (IPO) | 0.0979 |
| Alliance capital | 0.0753 |
| Total capital raised in FY99 | 0.03732 |
| Public | 1.12552 |
| Stage of biotechnology product or process | |
| Research and Development (R&D) | 0.2219 |
| Pre-clinical | 0.26471 |
| Regulatory | 0.24121 |
| Market/production | 0.34661 |
| 1. Statistically significant at 10% level. 2. Statistically significant at 5% level. Data source: Statistics Canada, Biotechnology Use and Development Survey, 1999 and 2001, and author's calculations. Table source: Statistics Canada, Innovation Analysis Bulletin, 2007, Vol. 9, no. 2, Catalogue no. 88-003-XWE. |
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