英文文献:An Analysis of Financing Innovation and Commercialization in Canada's Functional Food and Nutraceutical Sector-加拿大功能食品和营养药品部门的融资创新和商业化分析
英文文献作者:Cranfield, John A.L.,Herath, Deepananda P.B.,Henson, Spencer J.,Sparling, David
英文文献摘要:
Growing consumer interest in functional foods and nutraceuticals has been seen as a significant business opportunity for the agri-food sector. Many of the new firms in this sector are small and medium sized enterprises (SMEs). These SMEs often face difficulties in obtaining financing for their functional food and nutraceutical innovation activities. We develop and implement two models to show what factors affect a firm's decision to seek external financing and the level of financing obtained. Firm size, being privately held and engaging in contractual arrangements, have negative impacts on the likelihood of a firm seeking external funding, while firms which are intensively involved in the functional food and nutraceutical sector, with greater prospects for business expansion and/or are involved in partnerships are more likely to seek external financing. Larger firms and those involved in functional food and nutraceutical research and development receive a greater amount of capital when they decided to raise capital. However, firms focused on functional foods and nutraceuticals, as opposed to more diversified firms, and those involved in product development and concept scale-up receive less capital. Our findings highlight the importance of public support in addressing the capital requirements of functional food and nutraceutical firms and underscore the considerable burden in this respect borne by smaller sized firms.
消费者对功能性食品和营养食品的兴趣日益增长,这被视为农业食品部门的一个重要商机。这个部门的许多新公司都是中小型企业。这些中小企业的功能性食品和营养食品创新活动往往面临融资困难。我们开发并实施了两个模型来显示哪些因素影响企业寻求外部融资的决策以及所获得的融资水平。公司大小,被一家私营公司,从事合同安排,对公司负面影响的可能性寻求外部资金,而企业深入参与的功能食品和营养食品领域,以更大的业务扩张的前景和/或参与合作更有可能寻求外部融资。更大的公司和那些涉及功能性食品和营养药品研究和开发的公司在决定筹集资金时获得了更多的资金。然而,专注于功能性食品和营养食品的公司,相对于更加多元化的公司,以及那些参与产品开发和概念扩大的公司,获得的资本较少。我们的研究结果强调了公众支持解决功能性食品和营养食品公司的资本要求的重要性,并强调了在这方面较小规模的公司所承担的相当大的负担。


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