Gazelle Policy Conundrums: Some Prudent Avenues for Supporting Gazelles in Germany

Abstract

Despite the mounting evidence of gazelles’ higher economic contribution, there is no consensus on whether and how to support gazelles. In this chapter, we therefore discuss varied gazelle policy views as well as the inherent challenges of supporting gazelles. Here, we draw on relevant academic literature as well as on international policy examples. Additionally, we analyze Germany’s gazelle policy stance by triangulating information collected from the literature, practical policy examples and interviews, we carried out with German support agencies and policymakers. Though Germany’s general policies and framework conditions create necessary conditions for gazelles to emerge, they are insufficient to guarantee their prevalence. Moreover, Germany’s policy approach of encouraging new firm formation and self-employment and its focus on the financial support for small as well as technology or innovation-oriented firms is not consistent with the state-of-the-art knowledge about gazelles. Using the case of Germany, we argue that general entrepreneurship policies and high-growth entrepreneurship (gazelle) policies are distinct approaches having divergent and sometimes conflicting objectives and support mechanisms, which need to be synchronized to be effective.

Citation

Gaikwad, P. and Dörrenbächer, C. (2022), "Gazelle Policy Conundrums: Some Prudent Avenues for Supporting Gazelles in Germany", Becker-Ritterspach, F., Dörrenbächer, C. and Tomenendal, M. (Ed.) The Promises and Properties of Rapidly Growing Companies: Gazelles, Emerald Publishing Limited, Leeds, pp. 77-105. https://doi.org/10.1108/978-1-80117-818-120221005