This paper examines the dynamic role of financial resources—available through rounds of venture capital financing—on the growth strategies of startups. We investigate three different roles and their evolution over time. 1) We examine whether financial resources constrain the growth of startups and whether rounds of funding unbind this constraint. 2) We investigate the role of financial resource...

Venture capital groups and big pharma have largely held back from investing in biotech companies focused on regenerative medicine. Will it take a clinical bull's eye to bring venture capitalists and big pharma into the cell therapy arena?