Monitoring, mentoring and nurturing value in government venture capital entrepreneur development programmes
Journal of Small Business and Enterprise Development
ISSN: 1462-6004
Article publication date: 16 October 2024
Abstract
Purpose
This research explores the provision of monitoring, mentoring and nurturing in a government venture capital (GVC) entrepreneur development programme and how these activities might create value for high potential startups (HPSUs).
Design/methodology/approach
A qualitative in-depth case study pursued the research question – how does GVC entrepreneur development programme provision of non-financial monitoring, mentoring and nurturing create value for HPSU businesses? The paper uses quasi-random sampling of case entrepreneurs selected from publicly available lists of HPSUs and interviews with entrepreneurs, employees and co-founders, in tandem with reviewing HPSU documentation.
Findings
Findings highlight monitoring, mentoring and nurturing create value for HPSU entrepreneurs, and that GVC entrepreneur development programmes offer greater value to HPSUs than GVC investment alone. Programme activities build capacity by skills acquisition, access to a variety of external experts in non-technical business functions plus national and international private VC networks.
Research limitations/implications
This study provides evidence that robust monitoring, mentoring and nurturing activities of a GVC entrepreneur development programme creates entrepreneur readiness for private investor engagement.
Practical implications
This research highlights the influence of monitoring, mentoring and nurturing activities on HPSU entrepreneurs embedded in a GVC entrepreneur development programme. HPSUs seem better prepared for investor interactions by considering “non-monetary needs” in their funding strategies.
Originality/value
The findings illustrate how a GVC entrepreneur development programme can positively impact GVC-entrepreneur influence and outcomes. In offering an in-depth case study of better practice, we extend prior literature on how GVCs can help bridge the equity gap by providing value adding non-financial supports, without creating a false VC market where GVCs crowd out private investors.
Keywords
Acknowledgements
This research would not have been possible without the cooperation and generosity of spirit of HPSU founders, co-founders and employees. Their willingness to engage with this study and share their personal and professional experiences is critical and is greatly appreciated. Their aggregate experiences will have practical benefits for entrepreneurs embarking on the challenging and exciting journey of founding and funding a new business and those who join them on that journey.
Citation
Crehan, E., Duane, A. and Kelliher, F. (2024), "Monitoring, mentoring and nurturing value in government venture capital entrepreneur development programmes", Journal of Small Business and Enterprise Development, Vol. ahead-of-print No. ahead-of-print. https://doi.org/10.1108/JSBED-01-2023-0012
Publisher
:Emerald Publishing Limited
Copyright © 2024, Emerald Publishing Limited