Venture Capital, R&D, and Regional Innovation: Insights from Provincial Panel Data of Trademarks

Abstract

This research examines the interplay between venture capital (VC) investment, research and development (R&D) activities, and regional innovation outcomes, using provincial panel data of trademarks as a proxy for innovation activity. Drawing upon theories of innovation, entrepreneurship, and regional economics, this study investigates how venture capital investment and R&D expenditures influence the generation and commercialization of innovative products and processes at the regional level. Through panel data analysis, this research explores the mechanisms through which VC funding and R&D investments interact to drive regional innovation dynamics, considering factors such as industry composition, technological specialization, and institutional frameworks. The findings offer insights into the role of venture capital as a catalyst for R&D-led innovation and economic development at the regional level, providing implications for policymakers, investors, and entrepreneurs seeking to promote innovation ecosystems and entrepreneurial activities in diverse regional contexts.