Seed-Stage Success and Growth of Angel Co-investment Networks

Using hand-collected data, we show that coinvestment is widespread in the angel investment market, even among seed-stage startups. Individual angels with demonstrated seed-stage success experience an increase in the quantity, quality, and geographic and industry spread of their coinvestment connections relative to unsuccessful peers and are rewarded with more deal flow. These results are stronger for less-established angels and for angels whose successes are more indicative of their ability. Success also begets more success: the portfolio companies of successful angels are more likely to receive follow-on financing, especially from VC firms. Our results highlight how angels grow their coinvestment networks. (JEL G24, L14, L26, M13). Received June 8, 2020; editorial decision June 21, 2021 by Editor Isil Erel. Authors have furnished an Internet Appendix, which is available on the Oxford University Press Web site next to the link to the final published paper online.

Development and application of a STEAM program using classroom wall gardens

Background and objective: This study aims to develop and apply programs in agriculture and life sciences for promoting divergent thinking in STEAM using classroom wall gardens. The process of the STEAM program such as presentation of the situation, creative design, and success experience is proposed to utilize STEAM education as a distinguished program. Methods: Four types of classroom wall gardens were used in this program, such as the ‘plaster pot wall garden’, ‘attachable LED wall garden’. ‘coffee pack wall garden’, and ‘hanging wall garden’ for each classroom. For this purpose, official letters were sent to relevant institutions (elementary schools) specified by the research institute, and classes were conducted on the selected elementary school students. Results: A satisfaction survey and effect analysis were conducted on the students participating in the program. The program was designed to take a total of 11 hours, comprised of teaching plans including the topics, purpose of production, subject outlines, learning goals, and elements of STEAM subjects and stages. Conclusion: According to the survey on student satisfaction and understanding, it was found that students participating in the program have a high level of understanding and participation, as well as increased interest in science. Also, the program helped the students to connect with other subject areas. The level of student satisfaction was especially high in the upper grades. It is believed that the results of this research contribute to the development of STEAM education programs in agriculture and life sciences as well as other subject areas.

Signalling entrepreneurs’ credibility and project quality for crowdfunding success: cases from the Kickstarter and Indiegogo environments

In recent years, entrepreneurs have increasingly turned to crowdfunding, a new form of entrepreneurial finance, to fund projects. Whilst research has shown that signals originating from the entrepreneur and project can affect the outcome of crowdfunding, how different signals work together under different signalling environments remains underexplored. Drawing on signalling theory, we examine how signals of entrepreneurs’ credibility (success, failure, backer and industry experience) and project quality (preparedness and third-party endorsements) produce crowdfunding success in different signalling environments. We collected a unique dataset with matched projects listed on both Kickstarter and Indiegogo, but with different funding models, to represent two distinct signalling environments. Results based on qualitative comparative analysis (QCA) identify two distinct signalling patterns that show entrepreneur’s credibility and project quality signals can complement each other to produce crowdfunding success. In an environment with less uncertainty, entrepreneur’s credibility in terms of crowdfunding experience can also compensate absent project quality to produce crowdfunding success. In an environment with higher uncertainty, entrepreneur’s credibility and project quality need to be both present to establish the necessary legitimacy for crowdfunding to be successful. Furthermore, by integrating positive (i.e. success) and negative (i.e. failure) signals, we demonstrate how signal incongruence can enhance crowdfunding success.Plain English Summary Failure experience is an important signal in achieving crowdfunding success, but its effectiveness depends on other signals as well as the signalling environment. Our study shows how crowdfunding success can be achieved in multiple ways and that the path to success depends on the funding model of the platform used. For entrepreneurs to demonstrate credibility, backer experience and project preparedness are important. Both are under the control of the entrepreneur and well worth considering investing effort into. Importantly, the study also shows that demonstrating failure experience is important in achieving crowdfunding success. Failure experience can either replace the lack of prior success experience by demonstrating a track record of learning or it can enhance prior success experience by producing a more realistic picture of the entrepreneurs. Thus, the study offers practical implications for entrepreneurs on how to use different signals to increase the likelihood of success in reward-based crowdfunding.

Determinants of Using Social Networking Sites Toward Entrepreneurial Success: Experience from a Developing Nation

The study presents the determinants of the usage of social networking sites (SNSs) to accelerate the business potential of young entrepreneurs in a developing nation. It’s a quantitative study that considers 168 young entrepreneurs of Bangladesh. In analyzing the data, exploratory factor analysis has been used to justify the items associated with each variable while using a structural equation modeling approach to test the driven hypothesis. The study reveals that using social media as a promotional tool helps entrepreneurs to hasten their venture. In addition, changing purchasing behavior in this digital era and convenience and speed of Internet access also influence them to use SNSs intensively for growing their business enterprise. The findings of the study will help the key stakeholders to initiate key steps in order to create a more favorable business environment particularly for young entrepreneurs in this digital age of communication.

Theoretical Preconditions for [a] Change in the Student Assessment System: Toward Good Practices

Student formal assessment is the core axis of the educational process that affects the whole teaching / learning activity, its quality, students’ success experience, their self-respect and self-esteem, and the perception of self-efficacy. By recognising prospects as the main learning objective and defining the outcome as personal and authentic learner progress, the assessment raises the need to pay a due attention to reflection, deep consideration, and feedback to all participants of the educational process. Against this background, doubts are started to be raised about appropriateness of the grade, currently being one of the most popular methods of the formal student assessment, leading to the scientific problem of this article. Over the last few decades, a shift in the assessment has been observed, from the focus exclusively on the end result to a stronger orientation toward the whole educational process, with an emphasis on motivating students to learn and strengthening their involvement in the educational process. These changes are illustrated by the Finnish good practice where, in an environment based on mutual trust and respect, and without questioning the importance and need for testing learners’ knowledge, abilities, and skills in the teaching / learning process, alternative assessment methods: portfolio assessment and learning conversations, are successfully used. To transfer examples of the good practice and adapt them to the national context, it seems reasonable to apply theories and models of change management. Achieving a targeted and effective change in the area of the assessment requires a process-focused approach to the change management.