Venture Business and Economic Crises for Last Two Decades

The economic disturbances influence on venture business is studied. Two types of economic crises are considered: the crisis at the end of the last century and one near the end of the first decade of the current century. It is proved that if the external environment does not have a negative influence on the value of technological risk then investors estimate the commercial prospects of venture projects as quite favourable despite the economic recession. The study established the fact that the technology shift from information and communication technologies to biotechnologies took place during the first decade of this century. The duration of venture business stages of biotechnologies was determined.

Keywords: venture business, stages, risks, economic crisis, technology shift