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Open Access
Article
Publication date: 10 September 2020

Matteo Rossi, Giuseppe Festa, Armando Papa, Ashutosh Kolte and Rossana Piccolo

Institutional venture capitalists (IVCs) and corporate venture capitalists (CVCs) deploy analogous activities but adopt different approaches to financing innovation and value…

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Abstract

Purpose

Institutional venture capitalists (IVCs) and corporate venture capitalists (CVCs) deploy analogous activities but adopt different approaches to financing innovation and value creation for venture-backed firms. Thus, this paper aims to investigate their potential ambidexterity as a result of knowledge management (KM) strategies and processes.

Design/methodology/approach

After a focused literature review showing evidence of KM behaviors as a source of potential ambidexterity for IVCs and CVCs, descriptive, inferential and discriminant analyses on the 15 most active IVCs and CVCs in the world in 2019 are presented. Correlations between numbers of deals, prevailing entrepreneurial intensity and potential ambidexterity are investigated.

Findings

Specific differences are analyzed from a KM perspective, revealing that the number/percentage of operations per round can result as a misleading criterion of knowledge accumulation. Finally, a theoretical model for ambidexterity for venture capitalists is developed.

Originality/value

The study shows that IVCs act with greater investment capacity because of their organizational structure and purpose and focus on financial goals; moreover, they are ambidextrous, although their exploration may more frequently entail exploitation than “real” exploration. CVCs tend to invest in sectors related to their core business, coherent with their strategic purpose and more oriented with KM strategies for accumulating intellectual capital.

Details

Journal of Knowledge Management, vol. 24 no. 10
Type: Research Article
ISSN: 1367-3270

Keywords

Content available
Article
Publication date: 1 August 2008

Amama Shabbir

1210

Abstract

Details

International Journal of Entrepreneurial Behavior & Research, vol. 14 no. 5
Type: Research Article
ISSN: 1355-2554

Keywords

Open Access
Article
Publication date: 16 April 2018

Tetsuya Kirihata

The purpose of this paper is to discuss the implication of Japanese government venture capital (VC) policies for future research and to provide basis for policymakers and…

3894

Abstract

Purpose

The purpose of this paper is to discuss the implication of Japanese government venture capital (VC) policies for future research and to provide basis for policymakers and practitioners.

Design/methodology/approach

This is an academic literature review of available peer-reviewed publications on government VC policies. This paper discusses and analyses the current state and issues of the Japanese government VC policies regarding three research questions: What do Japanese government VCs do? Do they contribute to their portfolios? and Do they contribute to the development of VC market?

Findings

There are mainly two findings in this paper: It is effective to establish a complementary relationship with private VCs for Japanese government VCs to contribute to their portfolios; Japanese government should simultaneously continue to make and review policies for the VC market, the stock market, the entrepreneur sector and the environment surrounding them by its strategic long-term commitment to contribute to the development of VC market and new technology-based firms in Japan.

Originality/value

As there are only a few studies on recently strengthened Japanese government VC policies, this paper provides an in-depth discussion on these Japanese VC policies, which can be used for future research and as a valuable resource for policymakers and practitioners.

Details

Asia Pacific Journal of Innovation and Entrepreneurship, vol. 12 no. 1
Type: Research Article
ISSN: 2071-1395

Keywords

Content available
Article
Publication date: 1 March 2003

Joseph E. Levangie

To reminisce about my entrepreneurial career with appropriate self-importance, I might note that I have helped create companies and jobs. This contributes in a small way to…

1037

Abstract

To reminisce about my entrepreneurial career with appropriate self-importance, I might note that I have helped create companies and jobs. This contributes in a small way to economic growth. Economic growth is, however, an often illusive concept to characterize. Job growth is an essential component of a dynamic, innovative process. In the late 1970s jobs growth research suggested that the vast majority of new jobs are created by small business formation. Such empirical research is difficult to support with theoretical constructs. Classic macroeconomics analysis discounts size-offirm as irrelevant. Entrepreneurial contribution is therefore difficult to assess.

Details

New England Journal of Entrepreneurship, vol. 6 no. 2
Type: Research Article
ISSN: 2574-8904

Open Access
Article
Publication date: 14 June 2021

Sakari Sipola

The purpose of this paper is to examine how entrepreneurship culture affects start-up and venture capital co-evolution during the early evolution of an entrepreneurial ecosystem…

2315

Abstract

Purpose

The purpose of this paper is to examine how entrepreneurship culture affects start-up and venture capital co-evolution during the early evolution of an entrepreneurial ecosystem (EE) and its ability to foster the emergence of ambitious entrepreneurship as an outcome of its activity. Unlike studies that capture entrepreneurship culture at the national level, this study focusses specifically on the culture of venture capital-financed entrepreneurship and understanding its implications to the development of venture capital markets and successful firm-level outcomes within ecosystems.

Design/methodology/approach

Relying on EE and organisational imprinting theory, this study specifies characteristics of venture capital-financed entrepreneurship of Silicon Valley to illustrate the American way of building start-ups and examine whether they have as imprints affected to the entrepreneurship culture and start-up and venture capital co-evolution in Finland during the early evolution of its EE between 1980 and 1997.

Findings

The results illustrate venture capital-financed entrepreneurship culture as a specific example of entrepreneurship culture beneath the national level that can vary across geographies like the findings concerning Finland demonstrate. The findings show that this specific culture matters through having an impact on the structural evolution and performance of EEs and on the ways how they deliver or fail to deliver benefits to entrepreneurs.

Originality/value

The results show that venture capital-financed entrepreneurship and the emergence of success stories as outcomes of start-up and venture capital co-evolution within an EE are connected to a specific type of entrepreneurship culture. This paper also contributes to the literature by connecting the fundamentals of organisational imprinting to EE research.

Details

Journal of Entrepreneurship in Emerging Economies, vol. 14 no. 3
Type: Research Article
ISSN: 2053-4604

Keywords

Open Access
Article
Publication date: 28 July 2021

Nadia Arshad and Adele Berndt

The purpose of this study is to understand the role of the migrant entrepreneur’s social capital and specifically their family social capital in the success of their crowdfunding…

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Abstract

Purpose

The purpose of this study is to understand the role of the migrant entrepreneur’s social capital and specifically their family social capital in the success of their crowdfunding ventures.

Design/methodology/approach

This paper develops an exploratory single case study of the Persu Bag started by a Chinese migrant entrepreneur in the USA, which was documented through in-depth interviews, email communication, social media interactions and secondary documents publicly available. This paper draws on crowdfunding and social capital literature to fulfil the purpose and adopt the perspective of the migrant entrepreneur in the study.

Findings

The study shows that the crowdfunding migrant entrepreneur’s family network contributes with their operand and operant resources from both the country of residence and country of origin. Besides having financial capacity, institutional knowledge and experience from both the host and home countries, the family network in both countries make the crowdfunding immigrant entrepreneur’s families more resourceful, providing additional benefits to the crowdfunding migrant entrepreneurs in the development of the campaign and crowdfunded venture.

Originality/value

This study broadens the understanding of the ways migrant entrepreneurs can rely on their family social capital for building financial capacity and starting a crowdfunded venture.

Details

Journal of Enterprising Communities: People and Places in the Global Economy, vol. 17 no. 1
Type: Research Article
ISSN: 1750-6204

Keywords

Open Access
Article
Publication date: 20 October 2023

Allison Lucas and Rahul Mitra

To understand how narratives used by entrepreneurial support organizations (ESOs) in Detroit's growing entrepreneurial ecosystem shape transitional entrepreneurs' social reality…

Abstract

Purpose

To understand how narratives used by entrepreneurial support organizations (ESOs) in Detroit's growing entrepreneurial ecosystem shape transitional entrepreneurs' social reality. We offer theoretical and practical insights to elicit critical support, formulate policies and programs and guide ongoing empirical examination of transitional entrepreneurship.

Design/methodology/approach

We adopt a multi-case study approach, looking at two ESOs in Detroit: one focused on promoting high-growth entrepreneurship and securing financial capital for technology entrepreneurs, the other focused on promoting everyday entrepreneurship (especially among underserved communities) and amassing a more diverse array of resources. We conduct a thematic analysis of organizational texts and interview data with ESO leaders.

Findings

ESO narratives shape Detroit's transitional entrepreneurs by constructing entrepreneurs' social identity, orienting them to the ecosystem and envisioning a collective future in which transitional entrepreneurs are key.

Originality/value

This study offers insight into the definition of transitional entrepreneurs by extending existing conceptions by highlighting the role of institutional actors, like ESOs, and the narratives they adopt in shaping opportunities and challenges for transitional entrepreneurs. Moreover, we push the boundaries of transitional entrepreneurship, including technology start-up entrepreneurs in the definition and call attention to the role of transitional entrepreneurs in post-industrial cities by showcasing their role in community and urban development.

Details

New England Journal of Entrepreneurship, vol. 26 no. 2
Type: Research Article
ISSN: 2574-8904

Keywords

Content available
Article
Publication date: 1 March 2011

John T. Perry, Gaylen N. Chandler, Xin Yao and James Wolff

Among nascent entrepreneurial ventures, are some types of bootstrapping techniques more successful than others? We compare externally oriented and internally oriented techniques…

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Abstract

Among nascent entrepreneurial ventures, are some types of bootstrapping techniques more successful than others? We compare externally oriented and internally oriented techniques with respect to the likelihood of becoming an operational venture; and we compare cash-increasing and cost-decreasing techniques with respect to becoming operational. Using data from the first Panel Study of Entrepreneurial Dynamics, we find evidence suggesting that when bootstrapping a new venture, the percentage of cash-increasing and cost-decreasing externally oriented bootstrapping techniques that a ventureʼs owners use are positive predictors of subsequent positive cash flow (one and two years later). But, internally oriented techniques are not related to subsequent cash flow.

Details

New England Journal of Entrepreneurship, vol. 14 no. 1
Type: Research Article
ISSN: 2574-8904

Keywords

Open Access
Article
Publication date: 18 August 2023

Takawira Munyaradzi Ndofirepi

This study aims to examine the degree to which a selection of home country factors affects the proclivity of firms to internationalise. The study also proposes and tests a…

Abstract

Purpose

This study aims to examine the degree to which a selection of home country factors affects the proclivity of firms to internationalise. The study also proposes and tests a conceptual model that fuses institutional and resource-based theories to improve our understanding of firm internationalisation.

Design/methodology/approach

The study uses cross-sectional, national-level secondary data from the 2018 Global Entrepreneurship Development Institute and World Economic Forum data sets on global entrepreneurship and competitiveness indices for 137 countries. The data is analysed using correlation and hierarchical regression analysis to test the hypotheses.

Findings

The results indicate that national income, institutions, trade openness and availability of risk capital positively influenced firm internationalisation, while home-country networking had an inverse effect. However, home country infrastructure had no statistically significant effect on firm internationalisation.

Research limitations/implications

The findings highlight the importance of considering home country attributes in understanding the internationalisation of firms.

Originality/value

This study contributes to the body of knowledge by providing empirical evidence of the role of local factors on the internationalisation of entrepreneurial ventures. It also tests a novel conceptual model that integrates institutional and resource-based theories to explain the nuances of the internationalisation of business ventures globally.

Details

Review of International Business and Strategy, vol. 34 no. 1
Type: Research Article
ISSN: 2059-6014

Keywords

Open Access
Article
Publication date: 10 May 2018

Daniel Stefan Hain and Roman Jurowetzki

The purpose of this paper is to shed light on the changing pattern and characteristics of international financial flows in the emerging entrepreneurial ecosystems of Sub-Saharan…

4513

Abstract

Purpose

The purpose of this paper is to shed light on the changing pattern and characteristics of international financial flows in the emerging entrepreneurial ecosystems of Sub-Saharan Africa (SSA), provide a novel taxonomy to classify and analyze them, and discuss how such investments contribute to competence building and sustainable development.

Design/methodology/approach

In an exploratory study, the authors analyze the characteristics of international venture capital investors and the start-ups receiving funding in Kenya and map their interaction. The authors proceed by developing a novel taxonomy, classifying investors according to their main rationales (for-profit-for-impact), and start-ups according to the locus of needs and markets addressed by the start-up (local-global) and the locus of the start-ups capacity and knowledge (local-global).

Findings

The authors observe a new type of mainly western investors who support innovative ideas in SSA by identifying and investing in domestically developed technical innovations with the potential to address global market needs. The authors find such innovations to be mainly developed at the intersect of global and local knowledge.

Originality/value

The authors shed light on the – up to now – under-researched emerging phenomenon of international high-tech investments in SSA, and develop a novel taxonomy of technology investments in low-income countries, guiding further research on the conditions, impact, practical, and policy implications of this new form of finance flows.

Details

Journal of Small Business and Enterprise Development, vol. 25 no. 3
Type: Research Article
ISSN: 1462-6004

Keywords

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