The firm has also launched a venture-capital arm that can take stakes in businesses that Xooglers might set up.

该公司也开设了风险资本部门，能持股Xooglers创立的企业。

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They lack incentives to take stakes in biotech companies earlier in the development process.

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In other words, they often take stakes in important local companies in order to secure shareholder stability.

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The firm has also launched a venture-capital arm that can take stakes in businesses that Xooglers might set up.

ECONOMIST: The internet