1. *€1.000 Start up
> 20.000
20.000
10.000
5.000
2.500
1.250
750
500
250
125
50
20
Preperation Start First Growth Fast Growth Consolidation Mature
Fast Growth
(ICT)
High R&D
(Bio chemicals)
Average Innovative
Company
Successful independent
Small Company
Own Finance,Own Finance,
Family and / orFamily and / or
FriendsFriends
informalinformal
investorsinvestors
Combination ofCombination of
InvestorsInvestors
and subsidiesand subsidies
Investment CompaniesInvestment Companies
Stock ExchangeStock Exchange
Private EquityPrivate Equity
Venture CapitalVenture Capital
Evolution of Equity with the company’s growth