Towards a ‘wide’ role for venture capital in OECD countries' industry 4.0

This paper focuses on the current theoretical views of venture capital that predetermines a "narrow" treatment. In the light of the existing "narrow" treatment, venture investors seek private commercial interests in financial support for Industry 4.0, ignoring other interests that fall beyond the limits of the current "narrow" treatment of venture capital. A "wide" treatment of venture capital 4.0 proposed in this paper allows for improving venture investors' market strategies. Implementing this treatment, they will strive for providing a whole range of advantages for society. Due to this novel approach, venture capital 4.0 might become a tool of corporate social responsibility. To substantiate this novel approach, this paper considers data for 2020 that reflect the influence of venture capital 4.0 on the economy in the period of its stability for 33 countries of the OECD, including developed and developing countries. Econometric modelling based on the official statistics data proves that Industry 4.0 venture capital will help achieve such growth goals as innovative development, global competitiveness, and increasing digital competitiveness. The limitations of this research are due to the impossibility of achieving such goals as sustainable development, economic growth, and implementation of human potential; what's more, the specifics of developing countries have not been studied sufficiently. The conclusions are oriented mainly at developed countries and could merely partially be applied to developing countries. During further research, it is expedient to explore – more thoroughly – the experience of the influence of Industry 4.0 venture capital on emerging economies.