scholarly journals Where Do Accelerators Fit in the Venture Creation Pipeline? Different Values Brought by Different Types of Accelerators

2018 ◽  
Vol 8 (4) ◽  
Author(s):  
Shu Yang ◽  
Romi Kher ◽  
Thomas S. Lyons
Keyword(s):  
Economic Development ◽  
Early Stage ◽  
High Growth ◽  
Venture Creation ◽  
Entrepreneurial Ecosystem ◽  
Development Organizations ◽  
Different Types ◽  
Growth Firms ◽  
Development Pipeline ◽  
Pipeline Model

AbstractDespite the emergence of startup accelerators as venture development organizations (VDOs) to high-growth firms, research has yet to identify where these accelerators fit into the venture development ecosystem. By clarifying and reviewing three different subsystems in the entrepreneurial ecosystem, our paper proposes that as an extension of the current incubation mechanism, accelerators contribute to the entrepreneurial ecosystem by transforming entrepreneurs and their ventures at early stages. Drawing upon the Pipeline model (Lichtenstein, G. A., and T. S. Lyons. 2006. “Managing the community's pipeline of entrepreneurs and enterprises: A new way of thinking about business assets.”Economic Development Quarterly20 (4): 377–386.), we first plot where the accelerator model fits in the broader entrepreneurship ecosystem, and then demonstrate how different types of accelerators help participating entrepreneurs and their ventures progress along the venture development pipeline. Our theoretical approach contributes to both the entrepreneurship ecosystem and the accelerator literature and provides a practical map for both policymakers and early-stage entrepreneurs to manage and utilize their entrepreneurship ecosystem more effectively.

Understanding Entrepreneurial Ecosystem

2019 ◽  
Vol 10 (3) ◽  
pp. 103-115 ◽  
Author(s):  
Sachin A Meshram ◽  
A. M. Rawani
Keyword(s):  
Economic Development ◽  
High Growth ◽  
Knowledge Generation ◽  
Business Growth ◽  
Entrepreneurial Ecosystem ◽  
Research Directions ◽  
Entrepreneurial Ecosystems ◽  
Policy Debates ◽  
Small Business Growth

Entrepreneurial ecosystems are a strategy that is designed to nurture economic development by promoting entrepreneurship, small business growth, and innovation. Ecosystems represent a new direction for entrepreneurship research that simultaneously increases knowledge of the complex contextual environments surrounding the entrepreneurship process, while at the same time providing useful contributions to policy debates around the role of high-growth entrepreneurship as a driver of regional economic development. This article reviews the concept evolution; different definitions and factors of entrepreneurial ecosystems. Additionally, it provides approaches of past contributions about entrepreneurial ecosystem. This article contributes to knowledge generation and provides further research directions. This study is an attempt to cover the different articles that exist on the entrepreneurial ecosystems.

Public policy and high growth firms

2012 ◽  
Vol 27 (4) ◽  
pp. 329-331 ◽  
Author(s):  
David Walburn
Keyword(s):  
Public Policy ◽  
Early Stage ◽  
High Growth ◽  
Start Up ◽  
Growth Firms ◽  
Rates Of Growth

There are signs that public policy is catching on to an understanding that not only start-up firms can achieve high rates of growth. More research is needed to find out what the needs of more mature enterprises might be, before policy lurches away from supporting early stage companies.

scholarly journals An assessment of the business impacts of the UK’s Enterprise Capital Funds

2016 ◽  
Vol 34 (8) ◽  
pp. 1556-1581 ◽  
Author(s):  
Robert Baldock
Keyword(s):  
Economic Development ◽  
Private Sector ◽  
Early Stage ◽  
Supply And Demand ◽  
High Growth ◽  
Demand Side ◽  
Fund Managers ◽  
The Uk ◽  
Scheme Evaluation

Recent European studies present persistently critical views of the under performance of government-backed venture capital (GVC) schemes when compared to their private sector counterparts. However, they assess the performance of outmoded funding models and fail to contextualise the economic development role of these schemes. This paper provides a contemporary assessment of the business impacts of the UK government’s flagship Enterprise Capital Funds VC scheme in addressing the sub-£2 m equity finance gap facing young potential high-growth businesses requiring investments. Supply and demand-side evidence is presented from interviews with ECF fund managers, alternative private VCs, industry experts and surveys of successful and unsuccessful scheme applicants. We find that, despite the limitations of mid-scheme evaluation, Enterprise Capital Funds are addressing the UK equity gap and delivering business employment, revenue and innovation impacts. However, further progress is required in order to achieve optimal business exits and sustainable early stage private VC system impacts.

scholarly journals Wishful Thinking versus Reality: High-growth Aspirations of Start-ups and Established Entrepreneurs in ASEAN

2020 ◽  
Vol 25 (1) ◽  
Author(s):  
Ulrike Guelich
Keyword(s):  
Empirical Study ◽  
Early Stage ◽  
High Growth ◽  
Female Entrepreneurs ◽  
Individual Level ◽  
Market Expansion ◽  
Country Level ◽  
Growth Firms ◽  
Asean Countries ◽  
Start Ups

Most enterprises in the Association of Southeast Asian Nations (ASEAN) are micro and small enterprises. Few have aspirations to “dream big.” From an economic perspective, high-growth firms provide many benefits. This empirical study explores both country-level contextual factors such as country competitiveness or innovativeness and individual-level factors associated with high-growth, such as an entrepreneur’s market expansion plans, new product perceptions, export orientation and use of latest technologies. In this context, we investigate whether to “dream big” is associated with specific strategic intentions and which influencing factors hinder or foster aspirations to grow the business by more than 20 employees within five years while developing it into an established business. Utilising random sampling of data in six ASEAN countries, collected in the years 2013 to 2015 and comparing male to female entrepreneurs, the regression results of this empirical study show that although high growth-oriented entrepreneurs in both start-ups and established enterprises account for only 2.7% of all enterprises in this study, high-growth aspirations can only partially be sustained by early-stage entrepreneurs into the next business phase since it depends on several factors: (1) receiving funding (for both genders); (2) being export oriented (for male entrepreneurs); and (3) perceptions of having new products or services to offer to the market (for women entrepreneurs). Both genders are less prone to pursue their initial early-stage growth goals as established entrepreneurs. We infer that established entrepreneurs gain more clarity on the deployment of growth through implementation in the organisation while running their businesses and therefore may be more realistic in their predictions or less confident in their pursuit of ambitious goals.

scholarly journals Corporate governance in high-growth firms

2015 ◽  
Vol 12 (2) ◽  
pp. 308-317
Author(s):  
Gro Ladegard ◽  
Casper Claudi Rasmussen
Keyword(s):  
Corporate Governance ◽  
High Growth ◽  
Governance Structures ◽  
Governance Systems ◽  
Different Types ◽  
Growth Firms ◽  
Core Characteristics ◽  
Special Case ◽  
Advisory Role

The purpose of this paper is to explore the governance structures in high-growth firms – “Gazelles”. We analyse and compare 865 high-growth firms and 396 SMEs in Norway. The data reveals that high-growth firms differ from average SMEs on several core characteristics. They are smaller and younger, and have more owners and larger boards than the average SME. The analysis shows that high-growth firms are a special case where owners and managers appear to have shared interests, and the strategic and advisory role of the board are thus more important than the monitoring role. This knowledge is useful both for understanding high-growth firms as a particular context, and for how corporate governance systems may have different functions in different types of firms

scholarly journals Entrepreneurial ecosystem elements

2019 ◽  
Author(s):  
Erik Stam ◽  
Andrew van de Ven
Keyword(s):  
The Netherlands ◽  
Measurement Instrument ◽  
High Growth ◽  
Entrepreneurial Ecosystem ◽  
Systems Perspective ◽  
Entrepreneurial Ecosystems ◽  
Growth Firms ◽  
Systems View ◽  
Systems Framework

Abstract There is a growing interest in ecosystems as an approach for understanding the context of entrepreneurship at the macro level of an organizational community. It consists of all the interdependent actors and factors that enable and constrain entrepreneurship within a particular territory. Although growing in popularity, the entrepreneurial ecosystem concept remains loosely defined and measured. This paper shows the value of taking a systems view of the context of entrepreneurship: understanding entrepreneurial economies from a systems perspective. We use a systems framework for studying entrepreneurial ecosystems, develop a measurement instrument of its elements, and use this to compose an entrepreneurial ecosystem index to examine the quality of entrepreneurial ecosystems in the Netherlands. We find that the prevalence of high-growth firms in a region is strongly related to the quality of its entrepreneurial ecosystem. Strong interrelationships among the ecosystem elements reveal their interdependence and need for a systems perspective.

Climbing up the regional intellectual capital tree: an EU entrepreneurial ecosystem analysis

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Mihaela Mikic ◽  
Tin Horvatinovic ◽  
Ivana Kovac
Keyword(s):  
Intellectual Capital ◽  
Secondary Data ◽  
High Growth ◽  
Regional Innovation ◽  
Entrepreneurial Ecosystem ◽  
Cross Sectional ◽  
Content Type ◽  
Entrepreneurial Ecosystems ◽  
Growth Firms ◽  
Innovation Capital

PurposeThis study responds to calls by researchers to examine the relation between innovation and entrepreneurial ecosystems more closely, and also to further broaden our understanding of regional intellectual capital formation.Design/methodology/approachA cross-sectional analysis was conducted on NUTS 2 regions of the selected EU countries. In the empirical part of the research, multiple linear regression approaches were carried out using secondary data.FindingsIn sampled regions, the entrepreneurial ecosystem positively affects levels of high growth firms and levels of regional innovation capital.Practical implicationsResults lend further support to policymakers to develop and implement a regional-specific policy for fostering entrepreneurial ecosystems. However, given the multiple output nature of entrepreneurial ecosystems, this issue becomes more complicated than ever before.Originality/valueThis study builds upon previous research and complements it by widening the range of effects that the entrepreneurial ecosystem has. In doing so, this study is the first to examine the concurrent effects of these ecosystems on levels of high growth firms and innovation capital while using a regional innovation capital outlook.

How defining startup companies can help to set the stage for an entrepreneurial ecosystem: an overview

2020 ◽  
pp. 65-83
Author(s):  
Michele Modina ◽  
Gabriele Ianiro
Keyword(s):  
Life Cycle ◽  
High Growth ◽  
Basic Knowledge ◽  
Entrepreneurial Ecosystem ◽  
The World ◽  
Growth Firms ◽  
Definition Of ◽  
The Right ◽  
Shed Light

In recent years the construction of a thriving entrepreneurial ecosystem has attracted the interest of academics and those working in the world of business and finance. To be able, though, to set the right actions in the startup culture and education fields, it is fundamental to understand what startup companies and their needs are. In this paper we shed light on the definition of startup companies (with the help of two different life cycle theories), and most importantly we try to provide the reader with some basic knowledge on why these innovative, high growth firms are so important to fuel such an ecosystem.

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