scholarly journals A Comparative Analysis of Crowdfunding in Poland and Romania

2019 ◽  
Vol 13 (1) ◽  
pp. 182-193
Author(s):  
Mina Fanea-Ivanovici ◽  
Małgorzata Siemionek-Ruskań
Keyword(s):  
Comparative Analysis ◽  
Best Practice ◽  
Business Students ◽  
Legal Framework ◽  
Eastern European ◽  
Alternative Funding ◽  
Start Up ◽  
Bank Funding ◽  
Start Ups ◽  
The Empirical Analysis

Abstract Given the difficulty to access traditional bank funding by creative businesses and start-ups, crowdfunding as an alternative way to finance innovative and creative projects has been adopted, enacted and successfully used by several Western countries, which can serve as best practice examples. However, in many countries crowdfunding is still an emerging phenomenon due to its novelty and variety, the general awareness regarding this alternative funding method being relatively low. The aim of this paper is to investigate the extent to which Poland and Romania, the two largest Central and Eastern European member states, have adopted and used crowdfunding to support innovative and creative projects and to assess the sustainability of such a novel funding method in the respective countries. The objective of the comparative analysis is to determine how the existing legal framework supports the implementation of crowdfunding activities and what crowdfunding types are being used in each country based on the existing local crowdfunding platforms, to identify and explain the main strengths and weaknesses of each of the two markets, as well as to provide a set of measures and proposals that can be adopted by the two countries in order to promote and enhance the crowdfunding phenomenon, which we argue is a factor that ensures business sustainability in creative and innovative activities carried out especially by start-up companies. Apart from the empirical analysis of legislation and platforms, the research methodology includes a survey among business students and fresh graduates of business schools, the purpose of which being to assess the level of awareness of young entrepreneurs-to-be regarding this funding method.

scholarly journals Legal framework challenges to e-banking in Tanzania

2019 ◽  
Vol 3 (2) ◽  
pp. 101-110
Author(s):  
Charles Ishengoma Kato
Keyword(s):  
Comparative Analysis ◽  
Best Practice ◽  
Banking Sector ◽  
Legal Framework ◽  
Electronic Banking ◽  
Content Type ◽  
Legal Challenges ◽  
The Usa ◽  
Information And Communication ◽  
International Instruments

Purpose This paper aims to examine the legal challenges to electronic banking and initiatives taken to address them in Tanzania. It is based on the results of a comparative analysis of policies and laws of other countries from which Tanzania can pick a leaf on how to deal with challenges brought by information and communication technology-induced innovations in the banking sector. Design/methodology/approach The study upon which this paper is based employed comparative analysis methods by analysing different policies and laws of Tanzania in line with attendant laws of other jurisdictions such as the USA, Malaysia, South Africa, Rwanda and Kenya and international instruments in a bid to establish the best practice pertaining to controlling and containing legal challenges brought by developments in electronic banking. Findings This paper confirms that, the prevailing laws guiding electronic banking in Tanzania do not adequately address the challenges the banks and customers face during electronic banking transactions. Thus, there is a need to amend the Tanzanian laws guiding this sector to put in place legislation capable of facilitating the development of electronic banking whilst addressing the associated challenges the users encounter. Originality/value This paper underscores the value of amending existing or enacting new laws in line with the development of technology/innovation to protect consumers in nascent electronic banking of the country. Moreover, it advocates for the development of innovation in banking sector should not be left to grow without amending/enacting laws that will promote its development and at the same time protect the users to avoid far-reaching and often unpleasant implications.

scholarly journals PRIVATE EQUITY MARKET IN THE ECOSYSTEM OF START-UPS AND SME SECTOR – PART 1

2020 ◽  
Vol 49 (49) ◽  
Author(s):  
Tadeusz Waściński ◽  
Anna Dudkowska ◽  
Jevgenijs Kurovs
Keyword(s):  
Venture Capital ◽  
Private Equity ◽  
Eastern European ◽  
The European Union ◽  
Investment Funds ◽  
Legal Form ◽  
Investment Companies ◽  
Start Up ◽  
Polish Economy ◽  
Start Ups

Private Equity (PE)/Venture Capital (VE) Funds cover medium and long-term transactions on the private enterprise market. They adopt a legal form of closed-ended investment funds or more and more appreciated alternative investment companies, which contribute to a development of innovativeness in the Polish economy, supporting enterprises on each level of their expansion. Over the last years, there has been an increased value of investment reported among the European PE funds. Poland’s share in the Central and Eastern European (CEE) investments has been the highest in the region and does not fall below 46%. Moreover, more than a double increase of domestic PE investments in 2017 is an opportunity for improving one of the lowest innovation indexes in the European Union. An important role in this matter also belongs to the growing power of start-up ecosystem. It is not without significance that there is a growing awareness of start-ups cooperating with funds, which is defined e.g. by a stronger position of investor or a limited possibility to negotiate the terms of investment agreements. The aim of this article is to present the PE market and its meaning in the development of young companies. Showing in the first part of the article statistics related to management of venture capital in Poland compared to Europe and the CEE will identify tendencies in development of the Polish PE market. It will also allow estimating Poland’s chances for improving its position in the innovative European ranking and increasing Poland’s competitiveness on the international level. Emphasising the importance of startup’s education in dealing with VC funds in the second part of the study will additionally highlight the essence of their cooperation in terms of professionalization of the PE market and a growth of the country’s innovativeness.

Social Skepticism and Its Effect on Shared Economy

2021 ◽  
pp. 163-181
Author(s):  
Oluwaseun David David Adepoju ◽  
Demilade Oluwasina ◽  
Nji Mbitaownu Mughe Awah
Keyword(s):  
Comparative Analysis ◽  
Innovation Ecosystem ◽  
Opinion Analysis ◽  
Strong Case ◽  
Start Up ◽  
Pertinent Question ◽  
African Context ◽  
Start Ups ◽  
Valley Of Death ◽  
Economy System

The new disruptive models of businesses are now making strangers meet strangers for economic and service benefits. This new shared economy system begs for a very pertinent question. Has human trust increased to that point where we can completely trust strangers? This chapter answered the above question within the African context while considering some case studies of failed start-ups that launched on shared economy models. This chapter also made some comparative analysis of some homegrown platforms that did not survive the valley of death in the Nigerian Innovation Ecosystem and successful similar foreign models imported into Africa. A definite opinion analysis through social scepticism lens was used in writing on gomyway.com, a Nigerian car-pooling start-up that failed after two years of operation. The chapter ended by making a strong case for models that dwarfs social scepticism to ensure the survival of the valley of death for platform entrepreneurship in Africa.

scholarly journals THE STRATEGY OF ONLINE START-UP BUSINESS EXPANSION THROUGH POP-UP STORES INNOVATION

2014 ◽  
Vol 13 (2) ◽  
Author(s):  
Metta Padmalia
Keyword(s):  
University Students ◽  
Marketing Strategy ◽  
Qualitative Method ◽  
Business Students ◽  
Marketing Activity ◽  
Market Conditions ◽  
Entrepreneurial Marketing ◽  
The People ◽  
Start Up ◽  
Start Ups

Entrepreneurial Marketing is a marketing activity conducted by small and medium-sized enterprises with an entrepreneurial approach. The Businessmen who able to respond market conditions quickly and anticipate market changes can be called an entrepreneurial marketer. It is very necessary, especially for start-up business that must keep innovates in order to develop brand and boost demand. Generally, start-up businesses are still not trusted by the market because of their new brand, especially for online start-up businesses which market trust is still not obtained yet. The people still not believe in it, because online start-up business doesn’t have a physical store, so they can’t see, touch or feel the product directly. These obstacles can be overcome through a pop-up store so that prospective customers can be sure before buying the product. Based on this phenomenon, researcher want to identify what is the barriers to business start-ups in developing markets. This research conducted with qualitative method by interviewing 8 project group business students at Ciputra University, Surabaya. This research has provided an entrepreneurial marketing strategy through the development of pop-up stores that fits with the needs of Ciputra University students’ business projects. Hopefully, it can be applied for business start-up to strengthen brand and increase consumer demand.

Experiential learning model: improving entrepreneurial values through internship program at start-ups

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Donald Crestofel Lantu ◽  
Yulianto Suharto ◽  
Ira Fachira ◽  
Anggraeni Permatasari ◽  
Grisna Anggadwita
Keyword(s):  
Experiential Learning ◽  
Longitudinal Research ◽  
Business Students ◽  
Learning Experience ◽  
Work Culture ◽  
Content Type ◽  
Study Approach ◽  
Start Up ◽  
Analysis Technique ◽  
Start Ups

PurposeThe development of teaching methods in the field of entrepreneurship education is a challenge for academics to achieve “real active learning.” This paper aims to investigate the effectiveness of learning experience through internship program at start-ups. This paper examines the benefits and challenges from stakeholders' experiences and perspectives (business students, start-ups and universities). The authors focus on the entrepreneurial values obtained by exploring start-up processes, culture and work environments.Design/methodology/approachThis study uses qualitative research with a case study approach by applying experiential learning. The objects of this research are students of the School of Business and Management and start-ups in Indonesia. This study divides the pilot program of internship at start-ups into three stages, designing process, execution and evaluation. The analysis technique uses an interpretive approach from interviews and observations of internships based on experiential learning.FindingsThe results showed that the internship program at start-ups in this study has benefits for all major stakeholders, especially students. The results of student learning experiences show that start-ups' characteristics such as a creative work environment, egalitarian work culture and dynamic workflow flexibility can increase their professional and moral values.Research limitations/implicationsThis study has several limitations, including the internship program designed in this study, which is still raw and has several shortcomings. Time series in testing experiential learning is another limitation. For further study, it is necessary to conduct longitudinal research to measure the effectiveness of the start-ups' internship program.Originality/valueThis study provides new insights on experiential learning in developing an internship program at a start-up as an effort to increase entrepreneurial value for business students. This study highlights the possibility that an internship program at a start-up will have an impact on students' entrepreneurial values and competencies.

scholarly journals Analysing impacts of the economic crisis on the pre–start ups process of business students in Germany.

2011 ◽  
Vol 1 ◽  
pp. 41-57
Author(s):  
Walter Ruda ◽  
Thomas Martin ◽  
Rubén Ascua ◽  
Benjamin Danko
Keyword(s):  
Applied Sciences ◽  
Economic Crisis ◽  
Business Students ◽  
Basic Knowledge ◽  
Specialized Knowledge ◽  
Positive Effects ◽  
Self Employment ◽  
Start Up ◽  
Universities Of Applied Sciences ◽  
Start Ups

The article is part of the empirical research project “Starting up Businesses and Entrepreneurship by Students” (GESt–study) and analyzes potential impacts of the economic crisis on the pre–start–up process of business students surveyed before and during the downturn at four German universities (of applied sciences), what supports the advancement of entrepreneurship education and support within two different macroeconomic contexts. Though in Germany recessions typically animate more persons to self–employment, these business start–ups are mostly based on necessity–driven entrepreneurship. But particularly opportunity entrepreneurship has positive effects on economic growth and employment. Whereas no significant differences can be detected regarding their start–up propensities, the economic crisis indeed has heightened the intended start–up time as well as the necessity–driven start–up motivation of the surveyed business students, but not their start–up motivation from economic self–realization. Therefore, self–employment as vocational alternative has to be highlighted stronger and entrepreneurial basic knowledge has to be taught adequately to the students so that they are able to mature as potential entrepreneurs at their universities – the location where specialized knowledge about their subsequent professionalism is imparted – what facilitates them to generate future innovations accompanied by enduring and high–skilled employment.

scholarly journals A Study on the Influence of Entrepreneurial Competence Characteristics on the Sustainability of Entrepreneurs -Focused on the Mediating Effects of Entrepreneurial Mentoring

2020 ◽  
Vol 11 (2) ◽  
pp. 12
Author(s):  
Sung-Je Lee ◽  
Inchae Park
Keyword(s):  
Statistical Analysis ◽  
Government Support ◽  
Mediation Effect ◽  
Survey Method ◽  
Organizational Capability ◽  
Effect Analysis ◽  
Start Up ◽  
Start Ups ◽  
The Impact ◽  
The Empirical Analysis

Background/Objectives: Many studies have shown that the ability of a startup to have a significant impact on the sustainability of the startup, but no studies have been conducted on whether the ability of the startup to influence startup sustainability using startup mentoring. Therefore, this study investigated whether the founder's competency characteristics influence sustainability through the medium of start-up mentoring.Methods/Statistical analysis: The study subjects were early founders, and the survey was conducted as a survey method. The survey items consisted of 62 questions including 12 demographics. The Likert 5-point scale was used for the measurement. For the empirical analysis, frequency analysis, descriptive statistical analysis, exploratory factor analysis, reliability analysis, correlation analysis, regression analysis, and mediation effect analysis were performed using SPSS Ver. 22 statistical package.Findings: The results of the study confirm that entrepreneurial competence characteristics are partially mediated by the characteristics of the technical capability and the strategic thinking capability on the impact of sustainability, and through the research, the organizational capability of entrepreneurial competence characteristics are completely mediated on the impact on the sustainability.Improvements/Applications: In order to secure the sustainability of start-ups, mentors should conduct mentoring by understanding the entrepreneurial competence characteristics. Mentoring that does not fit the entrepreneurial competence characteristics only forces the founder to regenerate time and effort. Mentors should participate in entrepreneurial mentoring with a sense of mission for the national economy and job creation, and government support policies should be tailored to the characteristics of entrepreneurs.

scholarly journals DIASPORA START-UP PROGRAMS AND CREATIVE INDUSTRIES: EVIDENCE FROM ROMANIA

2021 ◽  
Vol 63 E ◽  
pp. 5-29
Author(s):  
Alin CROITORU
Keyword(s):  
Comparative Analysis ◽  
Urban Areas ◽  
Regional Differences ◽  
Home Country ◽  
Creative Industries ◽  
Regional Dynamics ◽  
Start Up ◽  
Start Ups ◽  
European Migration

Romania is one of the main countries of origin for intra-European migration. The national authorities recently implemented the first major program —Diaspora Start-up—to support the business initiatives of Romanian citizens who live abroad and who are interested in opening a business in their home country. This scheme was developed in parallel with a broader program—Romania Start-up Plus—which was designed to support the entrepreneurial initiatives of individuals residing inside the country. These programs have already supported over 8,600 non-agricultural start-ups created in urban areas. This study conducted a comparative analysis of the two programs based on different criteria and explored their regional dynamics regarding the emergence of start-ups and the prevalence of creative industries companies. The analysis highlighted important regional differences within Romania and revealed that the Diaspora Start-up program registered a statistically significant lower level of businesses registered as part of the creative industries. The results support the formulation of a hypothesis of negative selectivity within the programs designed to support Romanian migrants’ entrepreneurship, but further research is needed to test this hypothesis.

scholarly journals The role of creativity in entrepreneurship: an empirical study on business undergraduates

2017 ◽  
Vol 59 (7/8) ◽  
pp. 672-688 ◽  
Author(s):  
María-del-Mar Camacho-Miñano ◽  
Cristina del Campo
Keyword(s):  
Business Students ◽  
Control Sample ◽  
Youth Unemployment ◽  
Entrepreneurial Intentions ◽  
Content Type ◽  
Self Employment ◽  
Start Up ◽  
Two Samples ◽  
Business Undergraduates ◽  
Start Ups

Purpose The purpose of this paper is to analyse the creativity level of business administration undergraduates who have attended an entrepreneurship seminar in contrast to those that have not. Design/methodology/approach Using two samples of Spanish students, the factors that condition the creation of new start-ups are analysed. A survey following the creativity items from the Kirton Adaption-Innovation (KAI) inventory was employed for a start-up seminar students and a control sample. Non-parametric tests were carried out on the responses. Findings The results show that Spanish business students’ entrepreneurial intentions are not conditioned by entrepreneurial courses, parental self-employment or by their creativity level. However, there are differences in creativity level by genders for their future ability to start-up a company. Practical implications There are no external constraints on not being an entrepreneur, who plays a fundamental role in the future of a country and it is a way to reduce current youth unemployment rates. Social and educational implications are also presented. Originality/value The use of the KAI inventory as a proxy of creativity index is original in the research. Moreover, this study contributes to a better understanding of the factors in becoming an entrepreneur, through exposure to creativity, growing up around businesses and awareness of individual creativity index. Integration of university courses with entrepreneurship actions will be of interest to the society development.

scholarly journals Towards Digitalization in Academic Start-ups - An Attempt to Classify Start-up Projects of the Gruendungsgarage

2019 ◽  
Vol 9 (3) ◽  
pp. 112
Author(s):  
Elisabeth Maria Poandl
Keyword(s):  
Engineering Education ◽  
Best Practice ◽  
Future Research ◽  
Years Of Experience ◽  
Entrepreneurial Education ◽  
Start Up ◽  
Start Ups

Founded in 2013 as a playground for implementation-oriented start-up ideas, the Gruendungsgarage is now an established academic start-up accelerator and an integral part of the regional start-up scene. Starting with a brief in-troduction to the program of the Gruendungsgarage as a best practice example with five years of experience in academic entrepreneurial education, a model with a practical-oriented focus for classifying the degree of digitalization in start-up projects is presented. Successful start-ups and promising start-up projects from the Gruendungsgarage are classified according to their degree of digitalization and illustrated by examples. Finally, implications for the practice in engineering education on entrepreneurship are derived and suggestions for future research are identified.

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