Accelerators and intra-ecosystem variety: how entrepreneurial agency influences venture development in a time-compressed support program

2019 ◽  
Vol 28 (4) ◽  
pp. 961-975 ◽  
Author(s):  
Fei Qin ◽  
Mike Wright ◽  
Jian Gao
Keyword(s):  
Direct Effect ◽  
Temporal Structure ◽  
Theoretical Framework ◽  
Resource Acquisition ◽  
Support Program ◽  
Entrepreneurial Activity ◽  
Entrepreneurial Process ◽  
Entrepreneurial Ventures ◽  
Entrepreneurial Ecosystems

Abstract Accelerator programs constitute an important new element in entrepreneurial ecosystems, comprising focused support to advance the development of entrepreneurial ventures. Yet, we lack understanding of the processes through which accelerators contribute to enhancing entrepreneurial activity and especially the role of entrepreneurship agency in this process. By systematically tracking a cohort of ventures in a leading accelerator, our study draws out intra ecosystem heterogeneity and reveals that the accelerator program elements can impose a distinctive direct effect on participating ventures but the effect varies as entrepreneurs adopt different approaches to engage other players in the ecosystem. We find that in order to fit in the temporal structure of the accelerator program, entrepreneurs adopt two different strategies to achieve accelerated venture development—acceleration with focus and acceleration with foresight. The effectiveness of these two acceleration strategies are moderated by the approaches to engaging the accelerator offerings for resource acquisition. By developing a theoretical framework of entrepreneurial acceleration in the accelerator setting, we contribute to the specific literatures on entrepreneurial process and accelerators and more generally to the emerging literature on the functioning of entrepreneurial ecosystems.

VENTURE ACCELERATION AND ENTREPRENEURIAL GROWTH IN CENTRAL AMERICA

2020 ◽  
Vol 25 (04) ◽  
pp. 2050026
Author(s):  
HANS RAWHOUSER ◽  
CHRISTOPHER SUTTER ◽  
IAN McDONOUGH
Keyword(s):  
Developing Countries ◽  
Central America ◽  
Resource Acquisition ◽  
Entrepreneurial Activity ◽  
Post Intervention ◽  
Entrepreneurial Ventures ◽  
Sales Data ◽  
Entrepreneurial Growth ◽  
Critical Resources

Intermediaries such as accelerators support entrepreneurial activity in developing countries by connecting entrepreneurs to critical resources and by reshaping the entrepreneurial ventures so they can better participate in larger markets. Existing research has examined the activities intermediaries undertake and how these activities influence intermediary effectiveness. However, we know much less about which entrepreneurial ventures benefit from intermediation. Using 24 months of pre- and post-intervention sales data for 139 ventures working with a business accelerator in Central America, we find that facilitating resource acquisition is less important than the constraints to change within the entrepreneurial ventures themselves. Thus, our study suggests that although facilitating resource acquisition through venture acceleration is important, it may be insufficient for increasing venture growth. Rather, the malleability of the venture may play a more important role in intermediation effectiveness.

Institutions and entrepreneurship: the mediating role of corruption

2017 ◽  
Vol 13 (3) ◽  
pp. 262-282 ◽  
Author(s):  
Mohsen Mohammadi Khyareh
Keyword(s):  
Direct Effect ◽  
Rule Of Law ◽  
Institutional Quality ◽  
Test Theory ◽  
Entrepreneurial Activity ◽  
Content Type ◽  
Mediating Role ◽  
Mediation Hypothesis ◽  
The Relationship

Purpose The purpose of this paper is to examine the mediating role of corruption in the relationship between entrepreneurship and institutional quality in a sample of 90 countries from all around the world. Design/methodology/approach The data were collected from the Global Entrepreneurship Monitor, which developed a model where Corruption Perception Index as a proxy for corruption mediates the relationship between the variable rule of law as a proxy for institutional quality and opportunity entrepreneurship as a proxy for productive entrepreneurship. Correlation, Baron and Kenny approach (causal steps approach) and PROCESS Macro (normal test theory) developed by Hayes were used to find out the direct and indirect effects of institutional quality between corruption and entrepreneurship. Findings The bootstrap mediation results indicated that institutional quality was a significant predictor of corruption and corruption was a significant predictor of entrepreneurship. These findings support the mediation hypothesis. In addition, findings showed that there is a negative relation between corruption and productive entrepreneurship and a positive relation between institutional quality and productive entrepreneurship. Research limitations/implications The current study only considered the single proxy for institutional quality, i.e. rule of law; therefore, some other proxies for institutional quality such as government effectiveness and doing business can be used for future studies. Moreover, the proposed model does not control for the country differences like GDP or development stages of countries. Practical implications The findings of this study indicate that the total association between institutional quality and entrepreneurship is not only direct but also that rule of law contributes to levels of entrepreneurship through reduced levels of corruption. As a result, countries with higher levels of rule of law tended to experience corruption at lower levels, which in turn contributed to the emergence of increased levels of entrepreneurship. Furthermore, these results may be beneficial for organizations fighting against corruption, because entrepreneurial activity can be add to the group of economical drivers constrained by corruption. It is also beneficial for policy makers who focus on promoting entrepreneurship, since one way to increase entrepreneurial activity is to lower the existing corruption level. Originality/value The results indicated that the direct effect of institutional quality on the entrepreneurship remained significant when controlling for corruption, thus suggesting partial mediation. In other words, corruption only mediates part of the effect of institutional quality on entrepreneurship, that is, the intervention (institutional quality) has some residual direct effect even after the mediator (corruption) was introduced into the model.

The Interplay of Entrepreneurship and Collaboration

2019 ◽  
pp. xiv-14
Author(s):  
Jeffrey J. Reuer ◽  
Sharon F. Matusik ◽  
Jessica Jones
Keyword(s):  
Value Creation ◽  
Interorganizational Collaboration ◽  
Resource Acquisition ◽  
Important Research ◽  
Entrepreneurial Ventures ◽  
Units Of Analysis ◽  
Theoretical Perspectives ◽  
Research Questions ◽  
Multiple Units

The role of collaboration in entrepreneurship spans across different contexts, varied theoretical perspectives, and multiple units of analysis. This chapter introduces The Oxford Handbook of Entrepreneurship and Collaboration with an overview of the important role that collaboration plays in value creation, resource acquisition, and the development of entrepreneurial ventures. It is organized in two ways. First, the chapter summarizes each chapter to direct readers to the material of greatest relevance and interest to them. Second, it identifies important research questions to further push connections between the fields of entrepreneurship and interorganizational collaboration.

The role of geographical clusters in the success of reward-based crowdfunding campaigns

2020 ◽  
pp. 146575032091838
Author(s):  
Nunzia Carbonara
Keyword(s):  
Empirical Study ◽  
Early Stage ◽  
Entrepreneurial Activity ◽  
Common People ◽  
Data Set ◽  
Entrepreneurial Ventures ◽  
Small Investors ◽  
Shed Light ◽  
Geographical Clusters

Crowdfunding is a relatively new phenomenon, which disrupted the classic way to fund a venture. It consists in retrieving the capital needed to start an entrepreneurial activity drawing funds from a large base of small investors – generally common people – rather than from the traditional financial sources. Although many studies have been conducted on this topic, little focus has been put on the geography of this phenomenon. This article addresses this issue analysing whether regions characterized by the presence of geographical clusters are able to raise the probability of a successful crowdfunding campaign for projects located there. Drawing on a data set of 792 crowdfunded projects, we conduct an empirical study aimed at studying the role played by geographical clusters in fostering the crowdfunding of new entrepreneurial ventures. The results offer insights into the phenomenon of crowdfunding and shed light on the role of geographical clusters in the success of reward-based crowdfunding campaigns of early-stage entrepreneurial projects.

Paying attention to the customer: consumer forces in small town entrepreneurial ecosystems

2018 ◽  
Vol 20 (2) ◽  
pp. 323-340
Author(s):  
Philip T. Roundy
Keyword(s):  
Small Town ◽  
Theoretical Framework ◽  
Market Potential ◽  
Local Market ◽  
Service Dominant Logic ◽  
Unique Type ◽  
Content Type ◽  
Dominant Logic ◽  
Entrepreneurial Ecosystems

PurposeEntrepreneurial ecosystems – the inter-related forces that promote and sustain regional entrepreneurship – are receiving intense academic, policymaker and practitioner attention. Prior research primarily focuses on mature entrepreneurial ecosystems (EEs) in large, urban areas. Scholars are slow to examine the functioning of EEs in small towns, which face unique challenges in spurring entrepreneurial activity. Most notably, small town EEs are dependent on a key stakeholder group – local customers – which receives almost no attention in prior research on ecosystems. The purpose of this paper is to develop a theoretical framework for understanding the role of customers in EEs.Design/methodology/approachThis paper integrates work on the service-dominant logic and service ecosystems with entrepreneurship research to theorize about the influence of customers in small town EEs.FindingsThe proposed theory draws attention to the role of customers in evaluating the services provided by entrepreneurs and co-creating value in small town EEs. Theory is developed about the influence of three sets of customer characteristics on entrepreneurial activities: the local market potential (based on the number of local and transient customers), customers’ abilities to access the ecosystem (based on income levels) and customers’ preferences for services provided by the ecosystem’s entrepreneurs (based on preferences for innovativeness, local versus global brands and in- versus out-shopping).Originality/valueEntrepreneurial ecosystems research has implicitly adopted a producer-dominant logic focusing on entrepreneurs and their ventures as the primary creators of value. The proposed theoretical framework applies the service-dominant logic to EEs and conceptualizes EEs as a unique type of service ecosystem. The theorizing generates implications for scholars and practitioners and suggests that more work is needed at the interface of entrepreneurship, marketing and regional economic development.

scholarly journals Entrepreneurial ecosystems in Poland: panacea, paper tiger or Pandora’s box?

2019 ◽  
Vol 8 (3) ◽  
pp. 319-338 ◽  
Author(s):  
Chay Brooks ◽  
Tim Vorley ◽  
Cristian Gherhes
Keyword(s):  
Public Policy ◽  
National Policy ◽  
Entrepreneurial Activity ◽  
Policy Makers ◽  
Content Type ◽  
Entrepreneurial Ecosystems ◽  
Practice Gap ◽  
Framework Conditions ◽  
Theory Practice Gap

Purpose The purpose of this paper is to critically examine the role of public policy in the formation of entrepreneurial ecosystems in Poland. Design/methodology/approach The paper assumes a qualitative approach to researching and analysing how public policy enables and constrains the formation of entrepreneurial ecosystems. The authors conducted a series of focus groups with regional and national policy makers, enterprises and intermediaries in three Polish voivodeships (regions) – Malopolska, Mazowieckie and Pomorskie. Findings The paper finds that applying the entrepreneurial ecosystems approach is a challenging prospect for public policy characterised by a theory-practice gap. Despite the attraction of entrepreneurial ecosystems as a heuristic to foster entrepreneurial activity, the cases highlight the complexity of implementing the framework conditions in practice. As the Polish case demonstrates, there are aspects of entrepreneurial ecosystems that are beyond the immediate scope of public policy. Research limitations/implications The results challenge the view that the entrepreneurial ecosystems framework represents a readily implementable public policy solution to stimulate entrepreneurship and entrepreneurial growth. Insights are drawn from three regions, although by their nature these are predominantly city centric, highlighting the bounded geography of entrepreneurial ecosystems. Originality/value This paper poses new questions regarding the capacity of public policy to establish and extend entrepreneurial ecosystems. While public policy can shape the framework and system conditions, the paper argues that these interventions are often based on superficial or incomplete interpretations of the entrepreneurial ecosystems literature and tend to ignore or underestimate informal institutions that can undermine these efforts. As such, by viewing the ecosystems approach as a panacea for growth policy makers risk opening Pandora’s box.

A RESEARCH NOTE ON INSTITUTIONAL LOGICS AND ENTREPRENEURIAL ACTION: THE CASE OF BLACK CHURCH ORGANIZATIONS

2011 ◽  
Vol 16 (04) ◽  
pp. 499-515 ◽  
Author(s):  
RICHARD N. HAYES ◽  
JEFFREY A. ROBINSON
Keyword(s):  
Black Church ◽  
Activity Patterns ◽  
Institutional Logics ◽  
Entrepreneurial Activity ◽  
Entrepreneurial Ventures ◽  
Organizational Action ◽  
Entrepreneurial Action ◽  
The Individual ◽  
Church Organizations

What role do institutions play in the development of entrepreneurial ventures? What factors influence whether organizations will engage in entrepreneurial activity? While research has examined the individual and group-level characteristics of entrepreneurs, this paper explores the role of institutions and organizations in the development of entrepreneurial ventures. Using the "Black Church" as an institutional context, we predict entrepreneurial activity patterns of individual congregations based on denomination-specific institutional logics — rules and norms that either facilitate or constrain organizational action.

Regional entrepreneurial ecosystems in China

2019 ◽  
Vol 28 (4) ◽  
pp. 875-897 ◽  
Author(s):  
Yanzhao Lai ◽  
Nicholas S Vonortas
Keyword(s):  
Human Capital ◽  
Structural Model ◽  
Positive Impact ◽  
New Technology ◽  
Sustainable Growth ◽  
Entrepreneurial Activity ◽  
Unique Role ◽  
Entrepreneurial Ecosystems ◽  
Entrepreneurial Activities

Abstract This study focuses on regional entrepreneurial ecosystems in the largest emerging economy in the world. We use a two-stage structural model distinguishing between two sets of factors, those that have direct impact on entrepreneurial activities and those that have indirect impact. Based on an empirical analysis of 263 Chinese prefecture-level municipalities from 2008 to 2015, we find that human capital, knowledge creation, and access to finance are the main factors that drive local entrepreneurial activity. New technology-based startups are significant predictors of the regional stock of human capital and the presence of risk finance suggesting the unique role of technology-based firms in promoting sustainable growth in regional entrepreneurial ecosystems. The presence of research-intensive universities also has a strong positive impact on regional entrepreneurial ecosystems.

Entrepreneurial ecosystem narratives and the micro-foundations of regional entrepreneurship

2018 ◽  
Vol 20 (3) ◽  
pp. 194-208 ◽  
Author(s):  
Philip T Roundy ◽  
Mark A Bayer
Keyword(s):  
Social Psychology ◽  
Narrative Theory ◽  
Entrepreneurial Activity ◽  
Cultural Artifacts ◽  
Entrepreneurial Ecosystem ◽  
Entrepreneurial Ecosystems ◽  
Sources Of Variation ◽  
Develop Theory ◽  
Micro Foundations

Entrepreneurial ecosystems (EEs), the set of forces that generate and sustain regional entrepreneurial activity, are a growing focus of scholars and practitioners. Studies are beginning to draw attention to the role of cultural artifacts, including narratives, in the functioning of EEs. However, the mechanisms driving narratives’ effects on ecosystem participants are unexamined. The purpose of this article is to develop theory that explains the influence of EE narratives on how information is processed by audiences. It is theorized that differences among ecosystems can, in part, be explained by differences in the properties of the narratives that take hold in them. Specifically, propositions are developed about four properties that represent sources of variation among ecosystem narratives: their ability to capture attention, influence the cognitive and emotional encoding of information, and be memorable. Further, it is argued that the maturity of the EE influences the novelty and potency of narrative effects. By integrating theories of cognitive and social psychology, narrative theory, and entrepreneurship, this article advances our understanding of how narratives about EEs influence audiences.

Building an entrepreneurial ecosystem based on crowdfunding in Europe: the role of public policy

2019 ◽  
Vol 8 (3) ◽  
pp. 297-318 ◽  
Author(s):  
Antonella Francesca Cicchiello
Keyword(s):  
Policy Coordination ◽  
Entrepreneurial Activity ◽  
Entrepreneurial Ecosystem ◽  
Content Type ◽  
Entrepreneurial Ecosystems ◽  
Equity Crowdfunding ◽  
Regulatory Frameworks ◽  
Starting Point ◽  
New Perspective

Purpose The purpose of this paper is to assess the role that public policies may have in re-shaping entrepreneurial ecosystems and supporting the creation of functioning ecosystems based on new forms of finance, i.e. the equity-based crowdfunding. Design/methodology/approach The paper first identifies and examines the European policies developed to encourage the use of equity crowdfunding in entrepreneurial finance from 2003 to 2018. Then, it reviews national regulatory frameworks for crowdfunding, and analyses the barriers that constrain the growth of national crowdfunding markets. Finally, the paper addresses the issue of regulatory harmonisation by underlining its importance in building an entrepreneurial ecosystem based on crowdfunding. Findings Building an entrepreneurial ecosystem based on crowdfunding requires better policy coordination between European countries and readiness to take concerted actions. National authorities must look at the crowdfunding phenomenon from a European perspective and align their policies. European policymakers must import best practices from thriving national ecosystems by implementing less bureaucratic policies and with greater impact on entrepreneurial activity. Social implications In a post-crisis economy, the architecture of entrepreneurial ecosystems must evolve and focus on new financing alternatives ensuring the survival of successful businesses. Originality/value The paper offers a new perspective on entrepreneurship looking at the formation and development of new ecosystems around equity crowdfunding platforms. It also provides a relevant starting point for subsequent studies into this field.

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