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Women in entrepreneurship can have a significant impact on economic and social development globally and particularly in developing countries. But the challenges entrepreneurial women face are unique and multiple, pressing the need for research and policies to maximize impact. The purpose of this paper is to analyze the challenges women start-up founders face to secure funding in the technology industry. The tech industry was selected because it is a non-traditional industry for women with high potential for role models to bridge an existing gap in information on women start-up founders to secure capital financing to attain business sustainability. It covers venture capital investors’ role, Latin American cultural reasons, and gender.

This study is based on an inductive, qualitative approach and in-depth interviews with 20 women entrepreneurs and start-up founders from Latin American countries who received support from the Chilean Government sponsored accelerator “Start-Up Chile.”

The analysis uncovered ten aspects that impact entrepreneurial women founders’ access to capital in three categories: capital needs, networks, and individual characteristics.

This study identifies factors that affect women entrepreneurs in raising capital and in facing the following challenges: first, working in a non-traditional field for women as it is the technology industry, and second assuming a leadership role as start-up founders. The results offer recommendation with potential to drive public policies in Latin America, which may be scalable to other developing and also to developed countries where market systems prevail. The findings show that women entrepreneurs, but also men, seeking start-up financing and alternatives are a viable source of employment and economic sustainability to mitigate the effects of increasing levels of unemployment worldwide.

Seed accelerators (SAs) appear as a more advanced version of business incubators. These for-profit organizations in exchange of equity, help setting new start-ups by providing mentoring and funding during its first months. Due to their emergent nature, the impact and expectations of SAs remains largely unknown. Therefore, the purpose of this study is to throw new light on this field by empirically assessing for the first time the performance and prospects of these organizations through a survey of 116 SAs.

A model based on the Business Incubators literature is built with four categories covering size, location, age and profitability variables, leading to two hypotheses to be tested empirically over a survey of 116 SAs.

Some remarkable findings arise after implementation of both bivariate and multivariate analysis. The results confirm a higher size and performance in the US and in the oldest SAs at statistically significant levels.

The study is not free from limitations but the findings make a contribution to the still scarce existing literature on SAs, and provide some managerial implications to their stockholders, to investors and to entrepreneurs.

The findings concerning performance indicators are especially helpful for investors, primarily concerned with the percentage return on investment factor, the period and the investment rounds needed to achieve exit. Another key issue is the SA's role as an employment seedbed. At first glance, the amount of employment, both overall and per company, might seem small given the young age of these firms. The impact of SAs on the generation of new employment is difficult to measure as it usually takes place in further stages of development of the tenant companies, the so-called scale-up process. Nonetheless, at present, the number of new companies being born is remarkable and, in terms of employment, the results are indeed promising. Our findings also offer important implications for entrepreneurs, venture investors and policy-makers. To entrepreneurs, our findings offer insight on the expectations to hold in the accelerator programs.

For policy-makers and would-be accelerator founders, our results support the idea shared in the literature that accelerators can be an effective entrepreneurial intervention, even in small entrepreneurial ecosystems, compared to the strongest entrepreneurial hubs (Hallen et al., 2017).

SAs are a very recent phenomenon which is blooming all over the world, especially in developed countries. SAs are therefore considered a key agent in the prospects of any entrepreneurial ecosystem. However, no studies have so far analysed the impact and performance of this emerging instrument. This is precisely the main purpose of this paper, to offer for the first time an approximate and exploratory assessment on the impact and prospects of SAs, based on a database.

種子促進中心，以企業孵化中心的更高級版本的形態出現。這些營利組織、在企業剛開始營運的首數個月內提供指導及資金，以換來股權。由於種子促進中心是從未有過的，故其影響及人們寄予的期望大致仍為未知之數。因此，本研究旨在這範疇內提供新的知識，以實證方法，透過調查116間種子促進中心，首次對這類組織的表現及前景進行了評估。

研究人員根據關於企業孵化中心的文獻建立了一個模型，內容包括四個範疇，﹔涵蓋的變量為：規模大小、地域位置、經營年期及盈利狀況。這模型提供了兩個以實證方法、透過調查116間種子促進中心來進行驗證的假設。

透過進行二元及多元分析取得卓越的研究結果。研究結果確認了在美國的種子促進中心及歷史最悠久的種子促進中心在統計意義上顯著地呈較具規模及表現更佳。

本研究不是沒有局限的。唯研究結果為現時在種子促進中心方面的探討仍稀少的文獻提供了貢獻，亦為種子促進中心的股東、投資者及企業家提供了管理方面的提示。

與表現指數相關的研究結果對投資者尤為有用。他們主要的關注是投資因素的回報率，進行轉讓所需的時間及籌集投資總額。另一主要問題是種子促進中心作為就業苗床所扮演的角色。乍看之下，如考慮到這些公司短暫的歷史，無論整體的就業數量、或是以每間公司計算的就業數量都看似微小。種子促進中心在製造新工作方面的影響是難以量度的。這是因為新工作的產生通常出現在租戶公司發展的進一步階段內, 這就是所謂放大過程。但目前誕生的新公司的數目另人注目。而且, 以就業方面來說，效果實在是相當不錯的。我們的研究結果也為企業家、風險投資者及政策制定者提供重要的暗示。對企業家而言，我們的研究結果為他們就促進中心方案應持甚麼期望提供了啟示。

對政策制定者及未來的促進中心始創人而言，我們的研究結果支持文獻所說：促進中心、與最強大的企業樞紐比較之下，即使是在細小的企業生態系統裏，可以是有效的企業介入 (哈倫等人,2017)(Hallen et al., 2017) 。

種子促進中心是一個頗為近期才出現的現象。這現象在全球興盛起來，特別是在發達國家。因此，種子促進中心被認為是可為任何一個企業生態系統帶來前景的主要媒介。唯至今仍未有分析這新興工具的影響及表現的研究。這正正就是本研究的主要目的，就是首度根據一個數據庫，為種子促進中心的影響及前景提供一個適當和探索性的研究。

Latin American investors are commonly suspicious of investing in copreneurial ventures (a male and female couple, integrated as a working team) and show even higher levels of uncertainty when the start-ups are led by a female founder. The purpose of this paper is to address issues related to women as leaders in copreneurial tech ventures and analyses whether these ventures are growth-oriented or conform to limited partnerships aimed primarily to meet their living standards.

A qualitative, inductive and constructive approach was required for addressing the research question. Three copreneurial women and two divorced copreneurs were interviewed. A grounded theory approach was used to analyze data and emerging themes.

Copreneurial teams that work in the technology industry have similar and complementary levels of education and skills development. After three years working together, each partner becomes well aware of mutual skills and strengths. This allows them to define their respective roles. Both divide work and family, and have developed a level of mutual trust and commitment that is essential to move forward. Commonly they show workaholic tendencies with a high rational underpinning. All of these factors strengthen collaboration and in many instances this business liaison can remain intact despite a breakdown in the partners’ sentimental relationship. Additional findings show that their growth orientation takes multiple structures.

This study provides information that can help investors make decisions to support copreneurial teams that optimize from the use of diverse talents of female and male partners.

Although representing an increasingly common type of start-up team, copreneurship in technology has not yet capture much attention of scholars as case study in family business research.

Inversionistas latinoamericanos usualmente prefieren no invertir en negocios de coemprendedores (parejas en una relación amorosa y de negocio) y sienten incertidumbre cuando esos equipos están liderados por mujeres. Este artículo aborda los asuntos relacionados a mujeres que lideran equipos coemprendedores en negocios tecnológicos y analiza si ellas buscan el crecimiento de su negocio o se limitan a sustentar el estilo de vida.

Responder a la pregunta de investigación requirió una aproximación cualitativa e inductiva. Tres coemprendedoras y dos coemprendedoras divorciadas fueron entrevistadas. Se analizaron los datos y crearon temas emergentes siguiendo la teoría fundamentada.

Equipos coemprendedores en la industria tecnológica tienen niveles de educación y habilidades similares y, a la vez, complementarios. Luego de tres años trabajando juntos, ya conocen las habilidades y fortalezas de la pareja. Esto los ayuda a definir mejor sus roles. Ambos tienen un estilo segmentador que divide trabajo y familia.

Desarrollaron un alto nivel de confianza y compromiso que es esencial para seguir adelante.

Son normalmente equipos trabajólicos y muy racionales. Todos estos factores fortalecen la colaboración y permite incluso que el negocio persista por sobre la relación amorosa.

Además, estos equipos están orientados al crecimiento, y de diversas maneras.

El estudio incluye información dirigida a facilitar la toma de decisiones de inversionistas respecto a cómo invertir apoyando a los equipos coemprendedores para optimizar la diversidad de talentos de la pareja.

A pesar que es cada vez más común ver coemprendedores como configuración de equipo de start-up, el tema no ha recibido mayor atención de académicos como estudio de casos en la investigación en empresas familiares tecnológicas.

This paper aims to examine how innovation intermediary activities increase relational proximity between start-ups and foreign partners to support start-up internationalization.

The paper applies a case study methodology to examine an international network of innovation intermediaries in the resources sector. Interviews were conducted with 59 start-ups, corporate and intermediary managers in four countries, supplemented by secondary data. A two-stage analysis process was performed to first identify activities relating to start-up internationalization and then apply a theoretically derived coding framework based on five proximity dimensions.

The case identifies several innovation intermediary activities, which facilitate relationship development between start-ups and partners in new markets. Findings outline how activities increase relational proximity across different dimensions, while also indicating a number of interrelations between dimensions, given the complexity of international business relationships.

This paper establishes interdisciplinary bridges between business networks, international business and economic geography perspectives. It provides a valuable empirical foundation for relational proximity, demonstrating its application to understanding start-up internationalization and its influence by intermediary-led activities.

The purpose of this paper is to address the role of accelerators as authentic learning-based entrepreneurial training programs. Accelerators facilitate the development and assessment of entrepreneurial competencies in nascent entrepreneurs through the process of creating a start-up venture.

Survey data from applicants and participants of four start-accelerators are used to explore the linkages between accelerators and the elements of authentic learning. Authentic learning processes are then mapped onto the start-up processes that occur within the accelerators.

Accelerators take in nascent entrepreneurs and work to create start-ups. This activity develops the participants’ entrepreneurial competencies and facilitates authentic self-reflection.

This study explores how accelerators can be useful as authentic learning platforms for the development of entrepreneurial competencies. Limitations include perceptual measures and the inability to conduct paired sampling.

Entrepreneurship training is studied through the lens of authentic learning activities that occur within an accelerator. Participants develop and assess their mastery of and interest in entrepreneurship through tasks, exposure to experts and mentors, peer learning, and assessments such as pitching to investors at Demo Day.

This paper reports on the authentic learning processes and its usefulness in competency development and self-appraisal by accelerators participants. The opportunity for competency development and self-appraisal by nascent entrepreneurs before escalating their commitment to a start-up may be an accelerator’s raison d’être.

This conceptual paper seeks to develop hypotheses to explain a process of involvement of highly skilled members of diaspora to improve badly functioning institutions at home.

To arrive at the hypotheses, the paper relies on four diaspora pilots (in Armenia, Chile, Mexico and Argentina) that were designed and launched with the participation of the author.

A three‐stage process of diaspora involvement is identified: starting from first movers (individuals with longer planning horizon and higher tolerance to risk), to informal search networks, and to institutionalized search networks. Examples of this sequence are given from Taiwan, Chile and Mexico.

The hypotheses of the paper need qualifications which can be done with time, as more evidence and diversity in outcomes become available. The hypotheses are not rigorous, in a sense that no counterfactual information has been identified to prove them.

The paper examines dynamics of diaspora knowledge networks from “outside”, from a perspective of economic development, rather than migration of skills or network dynamics.

Business accelerators have recently received increasing attention as important cogs in business ecosystem development. However, their exact role in the ecosystem is not yet well known, especially outside the IT sector. The purpose of this study is, therefore, twofold: to determine the position of life science accelerators in the business ecosystem and the attributes of support for companies and to identify key features of the life science accelerators that contribute to the change in business ecosystems.

The authors offer an exploratory case study of five life science business accelerators and analyze the main factors affecting the companies and the whole business ecosystem. The authors build upon the scarce literature on business accelerators and consider a new type of accelerator that specializes in life science projects and study its role in the transformation and evolution of the life science industry.

The authors have defined the role and key parameters of life science accelerators that influence the existing business ecosystems: (1) cooperation with other regions and countries, (2) development of entrepreneurial skills among participants of the business accelerators program and (3) a project on demand-based approach.

The key parameters of the life science accelerators allow to concentrate these efforts on the activities that are most demanded by the market. Business accelerators can increase the created value for other program participants.

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.

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).

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.

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.

For new ventures, access to entrepreneurship assistantship is the main source of growth and innovativeness. Accelerators, a growing provider of entrepreneurial resources, offer such assistantship. This study aims to identify several factors that might account for a startup’s acceptance of accelerator programs. Particularly, this paper examines the impact of a lead founder’s country of birth, gender and education on accelerator acceptance.

This study tests the framework with logit regression for a sample of 10,298 observations for startups in 166 countries over 2016–2018.

This study finds that entrepreneurs from developing countries are less likely to be accepted by accelerators than entrepreneurs from developed economies. Counterintuitively, this study also finds an advantage for female entrepreneurs in accelerator acceptance. Further, the results suggest a positive impact on education. Building on signaling theory, this paper argues and shows that accelerators do not evaluate applicants uniformly.

Our comparative study enhances business owners’ insight for application to entrepreneurial resources and has meaningful implications for women’s entrepreneurship. For policy-making purposes, this study offers more insight on economic development for entrepreneurs’ access to global resources.

Despite the extant literature demonstrating the benefits of accelerators, determinants of acceptance to these programs, particularly at the individual level, are underexplored. This is the first study that shows the rarely acknowledged link between a lead founder’s country of birth, gender and education level on accelerator acceptance. Here, this study extends entrepreneurship literature and shows some sources of variation in access to international accelerator programs.

The purpose of this paper is to study the factors that act as innovation obstacles in precision agriculture (PA) technologies in Argentina, one of the world leading exporters of cereals and oilseeds. The focus of this study is on the supply side, i.e. the factors that are perceived by PA firms as obstacles for the expansion of their market.

Based on a survey to 67 firms that develop PA technologies in Argentina, this study examines the impact of different types of obstacles on firms’ growth and innovation activities. This analysis is complemented with the results that emerge from a series of interviews with different stakeholders (such as firms’ managers, policymakers and experts).

In this study, it was determined that market and cost factors negatively affect firms’ growth, while institutional obstacles reduce the amount of innovation efforts. In turn, knowledge barriers positively impact on the relevance firms assigned to R&D activities. This study helps identify different strategies that firms have put in place to overcome the barriers they face. Finally, policy implications of the results are discussed.

PA technologies may contribute to greening agricultural production and offer an opportunity for the emergence of domestic suppliers of innovative equipment and services based on the use of data science, artificial intelligence and Internet of Things. To the bets of the authors’ knowledge, this is the first study that explores the obstacles that prevent growth and impact on innovation activities of PA firms. The insights from this study are valuable for both researchers and policymakers aiming to foster emergence of high-tech clusters in developing countries.

El propósito de este trabajo es estudiar los factores que actúan como obstáculos a la innovación en tecnologías emergentes, tomando el caso de la agricultura de precisión en Argentina.

Estudiamos el caso de la agricultura de precisión en Argentina combinando técnicas econométricas y análisis cualitativo. Sobre la base de una encuesta a 67 empresas que desarrollan tecnologías de agricultura de precisión en Argentina, examinamos el impacto de diferentes tipos de obstáculos en el crecimiento de las empresas y las actividades de innovación. Este análisis se complementa con hallazgos derivados de una serie de entrevistas con diferentes actores (gerentes de empresas, responsables de políticas, expertos, agricultores, etc.).

Encontramos que los obstáculos de mercado y de costos afectan negativamente el crecimiento de las empresas, mientras que los obstáculos institucionales reducen la cantidad de esfuerzos de innovación. A su vez, las barreras de conocimiento tienen un impacto positivo en la relevancia que las empresas asignan a las actividades de I + D. También identificamos diferentes estrategias que las empresas han puesto en marcha para superar las barreras que enfrentan. Finalmente, discutimos las implicaciones de política de nuestros hallazgos.

Las tecnologías de AP contribuyen a una agricultura sustentable y ofrecen una oportunidad al surgimiento de proveedores locales de equipamiento y servicios, basados en ciencia de datos, inteligencia artificial e Internet de las Cosas. Para los autores, este es el primer estudio que explora los obstáculos al crecimiento y a la innovación en firmas de AP. Las contribuciones de este estudio son relevantes tanto para futuras investigaciones como para hacedores de políticas interesados en promover el surgimiento de clusters high-tech en países en desarrollo.

Obstáculos a la innovación, Política de innovación, Agricultura de precisión

O objetivo deste artigo é estudar os fatores que atuam como obstáculos à inovação em tecnologias emergentes, tomando o caso da agricultura de precisão na Argentina.

O caso da agricultura de precisão na Argentina é estudado combinando técnicas econométricas e análises qualitativas. Com base numa pesquisa com 67 empresas que desenvolvem tecnologias de agricultura de precisão na Argentina, examinamos o impacto de diferentes tipos de obstáculos nas atividades de crescimento e inovação das empresas. Esta análise é complementada com as conclusões que emergem de uma série de entrevistas com diferentes partes interessadas (gestores das empresas, responsáveis políticos, especialistas, agricultores, etc.).

Descobrimos que os fatores de mercado e custo afetam negativamente o crescimento das empresas, enquanto os obstáculos institucionais reduzem a quantidade de esforços de inovação. Além do mais, as barreiras do conhecimento impactam positivamente na relevância que as empresas atribuem às atividades de P & D. Também identificamos diferentes estratégias que as empresas implementaram para superar as barreiras que enfrentam. Finalmente, discutimos as implicações políticas de nossos resultados.

As tecnologias de AP contribuem para a agricultura sustentável e oferecem uma oportunidade para o surgimento de fornecedores locais de equipamentos e serviços, baseados na ciência de dados, inteligência artificial e na Internet das Coisas. Para os autores, este é o primeiro estudo que explora os obstáculos ao crescimento e inovação nas firmas de PA. As contribuições deste estudo são relevantes tanto para pesquisas futuras quanto para formuladores de políticas interessados em promover o surgimento de clusters de alta tecnologia em países em desenvolvimento.

Obstáculos à inovação, Política de inovação, Agricultura de precisão