In view of the potential role of venture capital in promotion of entrepreneurship and innovation, USA and many European nations have accorded top priority to the development of venture capital. The literature review of this paper discusses the problems faced by entrepreneurs in rasing funds for innovative projects and it also highlights the role of venture capital in promoting innovation and entrepreneurship. Further using survey method the perspective of entrepreneurs having an innovative project is studied to find the various types of assistance that be provided by a venture capitalist.
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