An effectual approach to innovation for new ventures: The role of entrepreneur’s prior start-up experience

2020 ◽  
pp. 1-32 ◽  
Author(s):  
Ioanna Deligianni ◽  
Panagiota Sapouna ◽  
Irini Voudouris ◽  
Spyros Lioukas
Keyword(s):  
New Ventures ◽  
Start Up

scholarly journals The Role of Accelerator Designs in Mitigating Bounded Rationality in New Ventures

2018 ◽  
Vol 64 (4) ◽  
pp. 810-854 ◽  
Author(s):  
Susan L. Cohen ◽  
Christopher B. Bingham ◽  
Benjamin L. Hallen
Keyword(s):  
Bounded Rationality ◽  
New Ventures ◽  
Multiple Case Study ◽  
New Venture ◽  
External Information ◽  
Start Up ◽  
Multiple Case ◽  
Established Firms

Using a nested multiple-case study of participating ventures, directors, and mentors of eight of the original U.S. accelerators, we explore how accelerators’ program designs influence new ventures’ ability to access, interpret, and process the external information needed to survive and grow. Through our inductive process, we illuminate the bounded-rationality challenges that may plague all ventures and entrepreneurs—not just those in accelerators—and identify the particular organizational designs that accelerators use to help address these challenges, which left unabated can result in suboptimal performance or even venture failure. Our analysis revealed three key design choices made by accelerators—(1) whether to space out or concentrate consultations with mentors and customers, (2) whether to foster privacy or transparency between peer ventures participating in the same program, and (3) whether to tailor or standardize the program for each venture—and suggests a particular set of choices is associated with improved venture development. Collectively, our findings provide evidence that bounded rationality challenges new ventures differently than it does established firms. We find that entrepreneurs appear to systematically satisfice prematurely across many decisions and thus broadly benefit from increasing the amount of external information searched, often by reigniting search for problems that they already view as solved. Our study also contributes to research on organizational sponsors by revealing practices that help or hinder new venture development and to emerging research on the lean start-up methodology by suggesting that startups benefit from engaging in deep consultative learning prior to experimentation.

Imprenditorialitŕ e nascita di nuove imprese innovative in Europa: un'analisi delle determinanti in alcuni settori ad alta tecnologia

2009 ◽  
pp. 67-92
Author(s):  
Camilla Lenzi ◽  
Maria Luisa Mancusi
Keyword(s):  
New Ventures ◽  
Jel Classification ◽  
New Venture ◽  
Entrepreneurial Activity ◽  
Work Experiences ◽  
Start Up ◽  
Geographical Regions ◽  
New Firm ◽  
The University

- This paper evaluates the importance of some key elements in the process leading to the birth and start-up of a new firm. We focus on a sample of recently founded and innovative European firms in technological fields characterised by strong innovative and competitive dynamics in the last 15 years. Emphasis is placed both on the role of the founder and on the assets exploited and developed in the new ventures early stages. The analysis of the questionnaire confirms the importance of the intellectual capital of the founder and of the scientific and technological knowledge acquired during advanced studies or previous work experiences. It further confirms the importance of the human and financial capital (particularly, access to external funds) necessary to the start of entrepreneurial activity, of intellectual property rights and of the network of relationships with actors having complementary knowledge and assets (other firms, universities and public research centres, parent organisation). The analysis finally highlights interesting differences both at the geographical and sectoral level. Differences across geographical regions include the degree of development of financial markets and the opportunities to access external financial resources, but also and mostly the functions performed and the effectiveness of the university system. On the other side, differences across sectors include the assets exploited in founding the new venture and the key competences that allow it to survive and eventually grow. Keywords: entrepreneurship, spin-off, patent Parole chiave: imprenditorialitŕ, spin-off, brevetto Jel Classification: L10, M13, O30

START-UP CREATION IN BIOTECHNOLOGY: LESSONS FROM THE CASE OF FOUR NEW VENTURES IN THE UPPER RHINE BIOVALLEY

2010 ◽  
Vol 14 (02) ◽  
pp. 253-283 ◽  
Author(s):  
ANTOINE BURETH ◽  
JULIEN PÉNIN ◽  
SANDRINE WOLFF
Keyword(s):  
Business Model ◽  
New Ventures ◽  
Patent System ◽  
Public Science ◽  
Start Up ◽  
Depth Analysis ◽  
Upper Rhine

This paper explores start-up creation in biotech through an in-depth analysis of four new ventures located in the Upper Rhine Biovalley. This analysis helps us discuss the role of several factors in the performance of a new biotech firm. The study specifically outlines three elements, namely: the importance of public science, without which new biotech firms cannot exist; the role of the patent system, which impacts the business model adopted by the firm; and the importance of collaborations, which we study through the concept of distributed entrepreneurship.

Does Establishing Sociopolitical Legitimacy Overcome Liabilities of Newness? A Longitudinal Analysis of Top Performers

2016 ◽  
Vol 43 (6) ◽  
pp. 906-935 ◽  
Author(s):  
Matthew W. Rutherford ◽  
Matthew J. Mazzei ◽  
Sharon L. Oswald ◽  
L. Allison Jones-Farmer
Keyword(s):  
Outcome Measure ◽  
New Ventures ◽  
Empirical Literature ◽  
Organizational Life ◽  
Organizational Life Cycle ◽  
Start Up ◽  
Top Performers ◽  
And Performance ◽  
The Relationship

This work builds upon an existing stream of research that seeks to empirically elucidate the role of legitimacy in helping entrepreneurs overcome liabilities of newness. More specifically, we examine the relationship between legitimating activities and performance in new ventures. We add to the empirical literature on the legitimacy/performance relation by focusing on top performing firms (on multiple performance measures) during the initial phase of the organizational life cycle. Moreover, we submit that our longitudinal sample, which includes data from nearly 5,000 new ventures, offers an important opportunity to enhance the external validity of this base of literature. Interestingly, we find that the value of engaging in legitimating activities depends upon the outcome measure. With regard to top line performance, and in accordance with theory and extant literature, we find that companies engaging in more legitimating activities at start-up are more likely to be top performers as they move beyond the “birth” phase. However, with regard to profitability, engaging in these activities may actually be detrimental.

The Role of Global Entrepreneurship in Utilizing Retired Workforce and Export Start-Up

2017 ◽  
Vol 21 (2) ◽  
pp. 23-44
Author(s):  
Kyungil Khoe ◽  
Hyuk-Jin Ko ◽  
Yeonsung Cho ◽  
Seon-U Kim
Keyword(s):  
Start Up ◽  
Global Entrepreneurship

scholarly journals Innovation Capabilities and the Performance of Start-Ups in Korea: The Role of Government Support Policies

2021 ◽  
Vol 13 (11) ◽  
pp. 6009
Author(s):  
Se-Kyoung Choi ◽  
Sangyun Han ◽  
Kyu-Tae Kwak
Keyword(s):  
Firm Performance ◽  
Financial Support ◽  
Political Support ◽  
Sustainable Growth ◽  
Government Support ◽  
Role Of Government ◽  
Positive Effects ◽  
Start Up ◽  
Start Ups

What kind of capacity is needed to improve the performance of start-ups? How effective are government support policies in improving start-up performance? Start-ups are critical firm group for ensuring the prospective and sustainable growth of an economy, and thus many countries’ governments have established support policies and they are likely to engage more widely in forward-looking political support activities to ensure further growth and expansion. In this paper, the effect of innovation capabilities and government support policies on start-up performance is examined. We used an unbalanced panel data analysis with a random effect generalized least squares. We investigated the effect of government support policies on 4368 Korean start-ups. The findings indicated that technology and knowledge capabilities had positive effects on the sales performance of start-ups, and government financial support positively affected the relationship between knowledge capability and firm performance. However, when government financial support increased, marketing capability was negatively associated with firm performance. These results demonstrate the significant role of government financial support, including its crowding in but also its crowding out effect. Practical implications: To be more effective, governments should employ innovation-driven entrepreneurship policy approaches to support start-ups. To improve their performance, start-ups need to increase their technology and knowledge capabilities. This study extends recent efforts to understand more fully the effect of government support policies on start-ups differing in their technology, knowledge, and marketing capabilities.

scholarly journals Universities and start-up creation by Ph.D. graduates: the role of scientific and social capital of academic laboratories

2021 ◽  
Author(s):  
Alessandro Muscio ◽  
Sotaro Shibayama ◽  
Laura Ramaciotti
Keyword(s):  
Social Capital ◽  
Training Period ◽  
Scientific Excellence ◽  
Academic Knowledge ◽  
Start Up ◽  
Industry Collaboration ◽  
Business Experience ◽  
Subject Areas ◽  
Scientific Capital

AbstractThis paper investigates how the characteristics of university laboratories influence the propensity of Ph.D. students to entrepreneurship, and thus, contribute to the transfer of academic knowledge to society. As determinants of Ph.D. entrepreneurship, we focus on the lab scientific and social capital as well as on the business experience that Ph.D. students acquire during their training period. The empirical exercise is based on questionnaire survey data of 5266 Ph.D. students in Italian universities in all subject areas. First, we find that 6.7% of the Ph.D. graduates engage in startup activities, and thus, Ph.D. training seems to contribute to knowledge transfer through entrepreneurship. Second, Ph.D. entrepreneurship is driven by business experience, in the forms of industry collaboration and industrially applicable research projects, during their training period. Third, the lab scientific capital is negatively associated with Ph.D. entrepreneurship, suggesting a conflict between scientific excellence and entrepreneurship, but this effect is mitigated if students acquire business experience. Fourth, the lab social capital increases the chance of startup when students have business experience. We further investigate the effects of lab environment by distinguishing between startups that are based on university research and startups that are not, finding different determinants.

scholarly journals Ecosystem dynamics: exploring the interplay within fintech entrepreneurial ecosystems

2021 ◽  
Author(s):  
Ahmad Alaassar ◽  
Anne-Laure Mention ◽  
Tor Helge Aas
Keyword(s):  
New Ventures ◽  
Ecosystem Dynamics ◽  
Resource Exploitation ◽  
Cultural Perspective ◽  
Structured Interviews ◽  
Opportunity Identification ◽  
Entrepreneurial Ecosystems ◽  
Regulatory Dynamics ◽  
Financial Technology

AbstractScholars and practitioners continue to recognize the crucial role of entrepreneurial ecosystems (EEs) in creating a conducive environment for productive entrepreneurship. Although EEs are fundamentally interaction systems of hierarchically independent yet mutually dependent actors, few studies have investigated how interactions among ecosystem actors drive the entrepreneurial process. Seeking to address this gap, this paper explores how ecosystem actor interactions influence new ventures in the financial technology (fintech) EE of Singapore. Guided by an EE framework and the use of an exploratory-abductive approach, empirical data from semi-structured interviews is collected and analyzed. The findings reveal four categories representing both the relational perspective, which features interaction and intermediation dynamics, and the cultural perspective, which encompasses ecosystem development and regulatory dynamics. These categories help explain how and why opportunity identification and resource exploitation are accelerated or inhibited for entrepreneurs in fintech EEs. The present study provides valuable contributions to scholars and practitioners interested in EEs and contributes to the academic understanding of the emerging fintech phenomenon.

How do social skills enable nascent entrepreneurs to enact perseverance strategies in the face of challenges? A comparative case study of success and failure

2014 ◽  
Vol 20 (6) ◽  
pp. 517-541 ◽  
Author(s):  
Wadid Lamine ◽  
Sarfraz Mian ◽  
Alain Fayolle
Keyword(s):  
Social Skills ◽  
New Technology ◽  
New Ventures ◽  
Nascent Entrepreneurs ◽  
Entrepreneurial Process ◽  
Ongoing Research ◽  
Content Type ◽  
Start Up ◽  
The Impact

Purpose – This paper seeks to advance ongoing research in entrepreneurial perseverance. While the concept of perseverance is not new, few researchers paid attention to behavioural persistence in the entrepreneurial context. The purpose of this paper is to explore the emergence of new technology based firms (NTBF) by focusing on the role of nascent entrepreneurs’ social skills in the meeting the changes of entrepreneurial perseverance. Design/methodology/approach – In this paper the authors study the start-up phase of entrepreneurial process. The authors opted for a longitudinal case study approach in order to enhance the knowledge on entrepreneurs’ social skills and perseverance. For triangulation purpose the data were gathered using four different information sources. The use of Nvivo8 as the data analysis tool helped to impose a discipline and structure which facilitated the extraction of core insights. Findings – This paper contributes to the understanding of the entrepreneurial perseverance in the context of new venture creation. Particularly, reading the entrepreneurial process through the lens of the perseverance strategies model (Van Gelderen, 2012) provided a way to identify and then to assess the impact of the social skills on the overall entrepreneurial perseverance and their combined impact on the performance of NTBF creation process. In doing so, the authors identify the impact of entrepreneurs’ social skills to deal with a series of entrepreneurial problems such as scarcity of resources, uncertainty and ambiguity and consequently their impact on the likelihood of survival for new ventures. The issues that arose mostly reflected the inherent complexity of technology transfer processes, the university and entrepreneurs’ diverging cultures, and the very characteristics of the start-up phase of NTBFs. The findings reveal how social skills impact the entrepreneurial paths and probable outcomes. Research limitations/implications – This paper contributes to the understanding of the entrepreneurial perseverance in the context of NTBF creation. The findings reveal how social skills and perseverance impact the entrepreneurial paths and probable outcomes. Practical implications – The paper has implications for entrepreneurial support mechanisms such as technology business incubators in helping them to improve the efficacy and efficiency of their assistance to entrepreneurs through the development of their skill-sets and perseverance and providing enabling networking. In addition, the research has implications for entrepreneurship education and training. Indeed, there is an urgent need to design and implement courses and programs aiming at developing soft skills in entrepreneurship. Originality/value – In exploring networking and issues of perseverance for nascent entrepreneurs operating in new technology-based sectors, which the authors consider as an under searched area in entrepreneurial literature.

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