Despite a steady rise in intangible assets held on their balance sheets, firms, and particularly high growth small and medium sized firms, face systemic difficulties in financing their intangible assets.

We know that the disruptive innovation needed to create new markets, increase demand, raise productivity and sustain the recovery is currently being disrupted by an inability to finance intangible assets.

This research identifies the source of the systemic problem in financing innovation, and examines what type of finance is most suitable to finance innovation.