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Li, Jun, and Dev K. Dutta. "Founding team experience, industry context, and new venture creation." New England Journal of Entrepreneurship 21, no. 1 (May 14, 2018): 2–21. http://dx.doi.org/10.1108/neje-04-2018-0008.
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Purpose The purpose of this paper is to examine the role of founding team experience (industry and venturing) in new venture creation. This paper posits the following questions: How does founding team experience influence the likelihood of new venture creation, in the nascent stage? How does industry context moderate this relationship? The study aims to fill an important gap in the literature by unpacking the impact of different types of founding team experiences on venture outcome, and by focusing on the influence of founding team in the venture creation process, specifically at the nascent stage. Design/methodology/approach The paper utilizes data from the Second Panel Study of Entrepreneurial Dynamics, a longitudinal data set of 1,214 nascent entrepreneurs in the USA. Logistics regression was employed to analyze the effect of founding team experience on new venture creation. Post hoc analysis was conducted to ensure the confidence of the findings. Findings The paper provides empirical insights about how founding team experience influences the likelihood of new venture creation in the nascent stage. At the nascent stage, founding team industry experience positively affects new venture creation while founding team venturing experience does not. However, in the high-technology industry environment, the influence of the founding team’s venturing experience on new venture creation is stronger than that in the low-technology industry environment. Research limitations/implications Due to the design of the data set, there is a risk of “right-censoring” problem. Also, because the study used archival data on founding teams, the methodology did not allow for uncovering the underlying team processes and dynamics during the venture creation process based on learning from experience. Future studies are encouraged to examine other types of founding team experience and the underlying process-level factors on venture creation. Practical implications The paper provides important practical implications for nascent entrepreneurs/entrepreneurial teams on team assembling and composition. In general, a team with higher-level industry experience is critical for venturing success. A team with higher-level venturing experience is more desired in the high-technology industry. Originality/value This paper fulfills an important gap in the entrepreneurial team literature by highlighting the complex and nuanced ways in which founding team experience influences the likelihood of venture creation in the nascent stage of the firm, especially after incorporating the additional impact of the industry context.
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Tenner, Isabell, and Jacob Hörisch. "Diversity matters: the influence of gender diversity on the environmental orientation of entrepreneurial ventures." Journal of Business Economics 91, no. 7 (February 3, 2021): 1005–23. http://dx.doi.org/10.1007/s11573-020-01026-5.
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AbstractEnvironmental entrepreneurship bears great potential to promote sustainable development. Several influencing factors on the level of environmental orientation have been identified by past literature. In this respect, mixed results occur with regard to the influence of gender on environmental entrepreneurship. However, these studies simply investigated the level of a single entrepreneur by distinguishing between male and female individuals, although ventures are increasingly founded by entrepreneurial teams. Consequently, this study quantitatively addresses the research question how the gender of founding teams influences the environmental orientation of entrepreneurial ventures. Based on a dataset of entrepreneurial ventures from the US and Germany, our results indicate that the level of environmental orientation is not dependent on the share of female members, but rather on the gender diversity of the founding team. We conclude that gender diversity within the entrepreneurial team is necessary to address both ecological and economic goals of environmental entrepreneurship. Based on this finding, theoretical and practical implications are drawn, in particular for policy, entrepreneurial teams and entrepreneurship training.
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Yang, Tiantian, Jiayi Bao, and Howard Aldrich. "The Paradox of Resource Provision in Entrepreneurial Teams: Between Self-Interest and the Collective Enterprise." Organization Science 31, no. 6 (November 2020): 1336–58. http://dx.doi.org/10.1287/orsc.2019.1354.
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Viewing entrepreneurship as a form of collective action, this paper investigates the tension between an entrepreneurial team’s reliance on collective efforts for achieving success and individual members’ tendencies to withhold their personal resources. We argue that the precarious nature of the early founding stage and the difficulty of redeploying some resources for other uses amplify the risk of early-stage resource contributions and may lead to team members withholding resources or even free riding. Two conditions may help overcome such collective action problems: adopting a formal contract to specify rewards and sanctions and encouraging reciprocal exchange among team members through the lead entrepreneur’s voluntary contributions. Analyzing a nationally representative multiwave panel study of entrepreneurial teams in the United States, we show that early-stage team members are reluctant to provide resources tailored to the business, even though such resources are critical to venture survival. We find that presigned formal contracts and founding entrepreneurs’ initial contributions make members’ contributions of such resources much more likely. Lead entrepreneurs’ voluntary contributions to their businesses, signified by their provision of resources that impose high risks on themselves but increase the viability of the business, help mitigate collective action problems within entrepreneurial teams.
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Sarfati, Gilberto Sarfati Gilberto, Thomaz Martins, and Gabriel Akel Abrahão. "Clashes Among Founding Partners: How Entrepreneurs Overcome Conflicts?" Revista de Empreendedorismo e Gestão de Pequenas Empresas 9, no. 4 (September 18, 2020): 502. http://dx.doi.org/10.14211/regepe.v9i4.1895.
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Objective: Conflicts have negative impacts on organizational performance and can lead to company mortality. The GVentures Accelerator, from the School of Business Administration of São Paulo (EAESP-FGV) identified that several startups that failed during and after the acceleration process had conflicts among the founding partners. This work aims to understand why some entrepreneurial teams in a pre-seed stage are able to overcome conflicts while others are not Methodology: We conducted a case study of 9 accelerated startups using in-depth interviews with 20 founding partners, and the interviews were followed by the codification and analysis of the cases with support from the manager responsible for the accelerator.Results: The research concludes that operational conflicts that escalate to affective conflicts due to disagreements in the process of giving and receiving feedback and/or mistrust between partners can lead to the dissolution of a company. On the other hand, founding members, even if they experience affective conflicts, are able to overcome the problems using the strategies of taking a step aside, giving in and putting their egos aside. It was also identified that the acceleration process tends to exacerbate the operational conflicts between founding partners.Theoretical/methodological contributions: The research contributes to the literature about founding teams by pointing out that operational conflict does not necessarily lead to the dissolution of the organization or closing the business, but operational conflicts that intensify to affective conflicts due to disagreements in the process of giving and receiving feedback and/or distrust among partners can lead to the dissolution of the organizationRelevance/originality: Founding teams are the backbone of any company. In spite of several articles discussing team conflict little is known about why some entrepreneurial team are able to overcome conflicts while other not. Moreover, also little is known about the role accelerators play in these conflicts.Social/management contribution: The conclusions about the strategies for managing founding team conflicts: taking a step aside, giving in and putting their egos aside; may be very useful for both entrepreneurs and accelerators’ management team in dealing with conflicts among founders.
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Janardhanan, Niranjan Srinivasan, Stephen Xu Zhang, Jianfeng Jia, Steven Gray, and Yuxin Jiao. "Founding team entrepreneurial and professional identification, identity conflict, and ambidexterity." Academy of Management Proceedings 2021, no. 1 (August 2021): 12639. http://dx.doi.org/10.5465/ambpp.2021.12639abstract.
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Bruneel, Johan, Bart Clarysse, and Erkko Autio. "The role of prior domestic experience and prior shared experience in young firm internationalization." International Small Business Journal: Researching Entrepreneurship 36, no. 3 (October 23, 2017): 265–84. http://dx.doi.org/10.1177/0266242617733315.
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This article examines how the prior domestic experience of a founding team influences an entrepreneurial firm’s ability to grow international sales. We argue that such experience leads to domestic mind-sets, which limit a team’s ability to perceive and interpret international stimuli and impact negatively upon international sales growth. Previous studies have overlooked the shared component of such experience. Prior shared experience allows ventures to learn faster from internationalization as a result of team familiarity and transactive memory systems. In uncertain environments, such as geographically distant regions, ventures that have founding teams with prior shared experience are able to outperform those without such experience.
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Lyndon, Shiji, and Ashish Pandey. "Deconstructing the shared leadership emergence process in entrepreneurial teams." Journal of Small Business and Enterprise Development 28, no. 3 (February 17, 2021): 360–79. http://dx.doi.org/10.1108/jsbed-04-2020-0136.
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PurposeEntrepreneurship literature has not sufficiently explored the process of how, at different points in time, different members of the co-founding team emerge as leaders. The purpose of this paper is to deconstruct the phenomenon of shared leadership emergence process amongst co-founders in entrepreneurial teams.Design/methodology/approachThe study adopted a qualitative approach. 21 co-founders from 7 entrepreneurial teams participated in the study. In-depth interviews were conducted. The data were analysed using Nvivo 11 software.FindingsThe study elaborates the process model of shared leadership emergence. The study found that shared interpersonal cognition and trust amongst the co-founders lead to claiming and granting of leadership. The findings also illustrate various strategies used by co-founders to emerge as leaders.Practical implicationsThe findings provide key insights to entrepreneurial teams by illuminating what kind of leadership dynamics should be developed, right from the initial stages of the venture. Also, the findings would be beneficial to investors, mentors and coaches of the entrepreneurial teams and ventures, by highlighting team dynamics to be considered before making any investment or team development decisions.Originality/valueThe inductive approach adopted in the study helps in understanding the process of shared leadership emergence in entrepreneurial teams, which is not adequately answered by previous studies. The study extends both shared leadership and entrepreneurship literature by providing a process theory of leadership emergence.
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Haim Faridian, Parisa, Gary J. Castrogiovanni, and Kevin C. Cox. "Role Complementarity in Entrepreneurial Founding Team Compositions and New Venture Strategies." Academy of Management Proceedings 2019, no. 1 (August 1, 2019): 10423. http://dx.doi.org/10.5465/ambpp.2019.10423abstract.
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Ucbasaran, Deniz, Andy Lockett, Mike Wright, and Paul Westhead. "Entrepreneurial Founder Teams: Factors Associated with Member Entry and Exit." Entrepreneurship Theory and Practice 28, no. 2 (March 2003): 107–28. http://dx.doi.org/10.1046/j.1540-6520.2003.00034.x.
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This exploratory study provides a review of the neglected area of entrepreneurial founder team turnover. A novel distinction is made between entrepreneurial founder team member entry and team member exit. Ninety owner–managed ventures were monitored between 1990 and 2000. Presented hypotheses relating to a team's human capital were explored using multivariate logistic regression analysis. Variables associated with entry were found not to be the same as those associated with exit. The size of the founding team was significantly negatively associated with subsequent team member entry. The link between team turnover and entrepreneurial team heterogeneity was mixed. Functional heterogeneity was weakly significantly positively associated with team member entry. Heterogeneity of prior entrepreneurial experience was significantly positively associated with team member exit. In addition, family firms were significantly negatively associated with team member exit. The average age of the team was not significantly associated with team member entry or exit. Additional insights in future research may be gathered if a broader definition of team turnover (i.e., considering team member entry and exit) is considered. Practitioner awareness of the different factors associated with team member entry and exit may encourage them to provide assistance, which facilitates the team building process over time in developing firms. Promising areas for additional research are highlighted.
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Morawczyński, Rafał. "Venture Capitalists’ Investment Criteria in Poland: Entrepreneurial Opportunities, Entrepreneurs, and Founding Teams." Administrative Sciences 10, no. 4 (October 10, 2020): 77. http://dx.doi.org/10.3390/admsci10040077.
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The aim of this article is to explore the decision-making policies by Polish Venture Capital (VC) firms, with special focus on the perception of entrepreneurs. This paper presents the results of a conjoint analysis and assessment of the importance of select characteristics among entrepreneurs and the qualities of a team of founders comprising managers of VC firms. The data were collected via face-to-face interviews with 26 Venture Capitalists. In the conjoint experiment, six attributes were presented, among which three represented characteristics of the entrepreneur (his/her passion and experience) and the management team (experience and completeness) alongside three characteristics of the opportunity (readiness of the product/service, growth rate of the market, and innovativeness of the whole project). VC managers ranked the importance of eight characteristics of the entrepreneurs related to their decisions and assessed the functional composition of the team of founders. The results of the experiment show that venture capitalists (VCs) most strongly appreciate the readiness of the product and entrepreneur’s passion. However, their preferences varied across the sample. The results of the ranking also show that the VC managers highly value the honesty of the entrepreneur. VCs typically prefer a team of founders, rather than a single-person project, preferably consisting of persons at least familiar with the technology and the market. This study contributes significantly to the state-of-the-art, as research on VC investment policy (investment criteria) is relatively rare in Central and Eastern Europe, where the VC industry is starting to flourish.
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Teal, Elisabeth J., and Charles W. Hofer. "Key Attributes of the Founding Entrepreneurial Team of Rapidly Growing New Ventures." Journal of Private Equity 4, no. 2 (February 28, 2001): 19–31. http://dx.doi.org/10.3905/jpe.2001.319980.
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Loane, Sharon, Jim Bell, and Isobel Cunningham. "Entrepreneurial founding team exits in rapidly internationalising SMEs: A double edged sword." International Business Review 23, no. 2 (April 2014): 468–77. http://dx.doi.org/10.1016/j.ibusrev.2013.11.006.
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Ganotakis, Panagiotis, and James H. Love. "Export propensity, export intensity and firm performance: The role of the entrepreneurial founding team." Journal of International Business Studies 43, no. 8 (August 2, 2012): 693–718. http://dx.doi.org/10.1057/jibs.2012.16.
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Kher, Romi, and Deborah Streeter. "Global loans in entrepreneurship (GLIE): ready, set, disaster." Emerald Emerging Markets Case Studies 1, no. 2 (April 1, 2011): 1–8. http://dx.doi.org/10.1108/20450621111151776.
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Subject area This case is designed for an undergraduate entrepreneurship course dealing with the launch and growth of an entrepreneurial venture, including strategies for effective team building, especially with teams based in different countries. Study level/applicability This case has been used in 300 and 400 level entrepreneurship courses. Case overview The case tells the story of John Lee (CEO) and Regina Adams (President), the founders of a new business called global loans in entrepreneurship (GLIE) based in Singapore. GLIE facilitates micro-loans for small business owners in the developing world and specifically targets entrepreneurial development projects for the poor. Many social enterprises start their operations on a shoestring budget. Typically, the deficit of cash pushes the leadership to use creative strategies to move things forward, including recruiting individuals who are willing to work in the startup phase without monetary compensation. This case sheds light on what can happen when founders recruit and rely on a volunteer for essential technology development, vesting the individual with substantial power, and creating the possibility for him/her to delay or purposefully hold up the launch of the company. Expected learning outcomes The case highlights the importance for someone on the founding team to have whatever core competencies are most critical to the firm. Additional themes are the importance of raising adequate funds at startup, the pitfalls of using volunteers in the wrong capacity, and the disastrous impact the wrong employee can have in a small firm setting. Supplementary materials Teaching note.
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Audretsch, David B., T. Taylor Aldridge, and Mark Sanders. "Social capital building and new business formation." International Small Business Journal: Researching Entrepreneurship 29, no. 2 (April 2011): 152–69. http://dx.doi.org/10.1177/0266242610391939.
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The article tracks potential employees (team members), university scientists (advisors) and venture capitalists (investors) who participated in a two-day workshop at Stanford University. The three groups are identified as either having preexisting professional interactions with the other two groups prior to attending the initial workshop, or having met for the first time at the workshop. The groups are then tracked over time for entrepreneurial activity. Positive relationships are found for groups who had preexisting professional interactions for founding a firm after the workshop. The article argues that innovation accelerators, such as the Stanford University workshop, offer invaluable social capital building opportunities to accelerate needed trust and tacit knowledge requisite for new firm formation.
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Abatecola, Gianpaolo, and Vincenzo Uli. "Entrepreneurial competences, liability of newness and infant survival." Journal of Management Development 35, no. 9 (October 10, 2016): 1082–97. http://dx.doi.org/10.1108/jmd-09-2014-0094.
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Purpose What entrepreneurial competences can increase the start-ups’ infant survival chances? How can the liability of newness be successfully handled? Positioned in this research stream, which, especially over recent years, has been particularly lively also in the Journal of Management Development, the purpose of this paper is to meet not only the research, but also the education and practice-oriented purposes of the journal. Design/methodology/approach How can routines’ exploitation counteract the liability of newness? How can entrepreneurial orientation oppose it? Why is the liability of adolescence important when discussing the performance of start-ups? To address these questions, taken separately into account, the paper presents a set of three case studies from the service industry, each of which is based on a specific research design. Findings The authors found that the routines’ exploitation mechanisms, the degree of entrepreneurial orientation of the founding team, and the stock of the initial assets, could be all considered consistent predictors of new ventures’ infant survival. The authors thus believe that the findings may offer a useful contribution both to current and prospective managers and entrepreneurs. Originality/value Stinchcombe’s assumption about the tremendous failure rate associated with the earliest stage of start-ups’ life cycle has been proved to be valid at least in the most recent evidence from both Europe and the USA. At the same time, formalizing a checklist of competences appropriate to increase the possibilities of organizational infant survival appears as a priority not yet accomplished. Thus, the study is aimed at providing some useful food for thought on this issue.
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Shepherd, Dean A., Vangelis Souitaris, and Marc Gruber. "Creating New Ventures: A Review and Research Agenda." Journal of Management 47, no. 1 (January 27, 2020): 11–42. http://dx.doi.org/10.1177/0149206319900537.
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Creating new ventures is one of the most central topics to entrepreneurship and is a critical step from which many theories of management, organizational behavior, and strategic management build. Therefore, this review and proposed research agenda are relevant to not only entrepreneurship scholars but also other management scholars who wish to challenge some of the implicit assumptions of their current streams of research and extend the boundaries of their current theories to earlier in the organization’s life. Given that the last systematic review of the topic was published 16 years ago, and that the topic has evolved rapidly over this time, an overview and research outlook are long overdue. From our review, we inductively generated 10 subtopics: (a) lead founder, (b) founding team, (c) social relationships, (d) cognitions, (e) emergent organizing, (f) new-venture strategy, (g) organizational emergence, (h) new-venture legitimacy, (i) founder exit, and (j) entrepreneurial environment. These subtopics are then organized into three major stages of the entrepreneurial process: co-creating, organizing, and performing. Together, the framework provides a cohesive story of the past and a road map for future research on creating new ventures, focusing on the links connecting these subtopics.
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Weerakoon, Chamindika, Byron Gales, and Adela J. McMurray. "Embracing entrepreneurial action through effectuation in social enterprise." Social Enterprise Journal 15, no. 2 (May 24, 2019): 195–214. http://dx.doi.org/10.1108/sej-08-2018-0053.
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Purpose Mainstream entrepreneurship research tends to adopt either the causation or effectuation perspective in their studies. Yet, the social enterprise literature has largely focussed on the bricolage perspective to explain social entrepreneurial action. The authors argue that when investigating legitimacy driven opportunity pursuit of an enterprise’s pre-emergence stage, all three perspectives of causation, effectuation and bricolage are required. The purpose of this paper was to address the research question how does effectuation determine entrepreneurial action in the pre-emergence of a social enterprise? Design/methodology/approach An in-depth single case study approach was used based on the data provided by the founding entrepreneur of Good-Faith Learning social enterprise in Australia. Findings The results demonstrated the complementary evolution of the three perspectives. In the following sequence, the effectuation, causation and bricolage actions were identified during the pre-emergence stage of the Good-Faith Learning social enterprise. Specifically, the input–process–output perspective of the study confirmed that the initial stage reflects on the effectual means linked to the causation-based strong articulation of the social vision and mission. The process stage dominates the bricolage approach to resourcing leading to effectual outcomes subsequently. Further, the specific actions of the pre-emergence stage are comprised legitimacy driven symbolic management approaches conveying the entrepreneur’s credibility and commitment, professional organising through website, gut-instinct based team selection, and organisational achievement. Research limitations/implications The future research may conduct multiple case study analysis with multiple respondents to observe the consistency or deviations of the patterns identified in this study. Originality/value This single case study demonstrates the complementary existence of causation, effectuation and bricolage elements in entrepreneurial actions in a single social enterprise context and advances the social entrepreneurship literature.
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Verbano, Chiara, Maria Crema, and Veronica Scuotto. "Adding the entrepreneurial orientation among the theoretical perspectives to analyse the development of research-based spin-offs." International Journal of Entrepreneurship and Innovation 21, no. 2 (September 8, 2019): 113–26. http://dx.doi.org/10.1177/1465750319874592.
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To date, research-based spin-offs (RBSOs) have been studied from an institutional perspective, from an entrepreneurial orientation (EO) or from a resource-based view. Although scholars have expressed an interest in studying RBSOs, nobody has incorporated the three different perspectives into a single integrated model. Therefore, the present article aims to develop a holistic theoretical framework, studying the human, financial, technological and social resources of an RBSO and highlighting whether the EO influences an RBSO during its generation and development phases. A case study from the information and communication technology sector was selected, and data were collected through a structured questionnaire complemented with in-depth and on-site interviews. The holistic framework adopted allowed to highlight the peculiarities of the RBSO: the marked vocation for scientific research, the EO of the founding team and the important role of the parent organization, mostly in supplying intangible assets. The emerged evidence shows how it is possible to generate and develop a successful RBSO, providing useful insights from both academic and managerial viewpoints.
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Yadav, Deepak, Niladari Das, and Paritosh Tripathi. "Knowledge-Based Service (KBS) Opportunities to Contour Startup Into a Scalable Enterprise." International Journal of Sustainable Entrepreneurship and Corporate Social Responsibility 5, no. 1 (January 2020): 56–64. http://dx.doi.org/10.4018/ijsecsr.2020010104.
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The essential transition step from a startup to a sustainable organization in early-stage entrepreneurs is very crucial. The four stages in the life cycle of an entrepreneurial venture consists of ideation, transition, scaling-up, and growth/exit and is efficiently done by knowledge-based services (KBS). The founding team faced the key challenges which emphasize assessment, validation, and enhancement of the business concept. KBS is a large and fast-growing economy based on businesses and professions which lays a concrete foundation to build a scalable business. KBS are highly recommended opportunities for new venture investment and growth and have created more than 79% out of all nonfarm US jobs. This area has been paid very little attention to entrepreneurship research and education which hampers national economic expansion. This article discusses entrepreneurship education, research and investment in KBS. KBS research work explores exclusive features, opportunities, and challenges in new venture development to a scalable enterprise.
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Velamuri, Ramakrishna, Yuan Ding, and Jianhua Zhu. "Noah Wealth Management." Emerald Emerging Markets Case Studies 2, no. 8 (October 17, 2012): 1–22. http://dx.doi.org/10.1108/20450621211312929.
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Subject area Entrepreneurship. Study level/applicability This case is suitable for MBA, EMBA and advanced undergraduate students. Case overview Noah Wealth Management was founded by Ms Wang Jingbo, a lady in her mid 30s with a team of less than 20 members in 2005. Exploiting market opportunities offered by a lack of good wealth management products and services, Noah grew rapidly from one branch office in 2005 to 59 branch offices in 2011, reaching a staff size of 1,031. Noah listed its shares on the New York Stock Exchange in November 2010. In 2011, Noah was ranked No. 38 among the 100 Top Potential Enterprises in China. Nonetheless, Noah faced several problems of internal management during the course of its fast expansion. In the first quarter financial report of 2012, Noah suffered a 52.6 percent decrease in net income over the corresponding period in 2011. Faced with a rapidly declining share price, Noah announced on May 22, 2012 a US $30 million share repurchase program. Expected learning outcomes The case supports a basic lesson on the entrepreneurial cycle, including assessing a business opportunity, resource mobilization, identifying a business model, growth of the venture, listing on the stock market, and subsequent growth challenges. Students can learn about some of the typical dilemmas faced by founders of entrepreneurial ventures, including how to maintain the corporate culture while growing fast and how to prevent members of the founding team from becoming bottlenecks to the development of the organization. The case can also provide management students with an overview of China's wealth management industry. Supplementary materials Teaching notes are available for educators only. Please contact your library to gain login details or email support@emeraldinsight.com to request teaching notes.
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Jung, HeeJung, Balagopal Vissa, and Michael Pich. "How Do Entrepreneurial Founding Teams Allocate Task Positions?" Academy of Management Journal 60, no. 1 (February 2017): 264–94. http://dx.doi.org/10.5465/amj.2014.0813.
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Wang, Jiwu. "The Exploration and Practices of TusPark in Promoting Business Incubation and Industrial Development." Journal of Evolutionary Studies in Business 7, no. 2 (July 1, 2022): 298–320. http://dx.doi.org/10.1344/jesb2022.2.j114.
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As a new platform for innovation, China's national university science parks gather a wealth of resources for innovation. They are not only the carriers of new knowledge, technologies and systems, but also that of new cultures. As one of the first batch of national university science parks in China, TusPark, which is backed by Tsinghua University with the active participation of varied entrepreneurial, R&D and financial institutions, has basically developed an ecological network for innovation that is distributed throughout the country. It has become an important platform for further transformation of the scientific and technological achievements of universities, as well as promoting the development of strategic emerging industries. Focused on TusPark’s functions and roles in advancing startup incubation and industrial development, this paper conducts an in-depth analysis of TusPark’s developmental path, with research based on interviews conducted with people involved in TusPark’s construction and operations, as well as reviewing the developmental history and models of global university science parks with international perspectives and extracting TusPark’s unique developmental path and model. The aim of this paper is to analyse how TusPark, as the science park of China’s top university, blazed a trail for business incubation and industrial development. The paper presents some typical cases and explains TusPark’s major models for business incubation and industry cultivation. It also discusses the main factors of TusPark’s success and explores its approaches for encouraging future development under new domestic and international circumstances. This article is mainly divided into two parts: The first part mainly introduces historical background, main functions, operation mode, core achievements, success factors and future development prospect of TusPark; the second part briefs planning, construction and the operation management organization TusPark - Tus-Holdings Co., Ltd., including the company's founding background, development history, equity structure, management team and other basic information, as well as the original business model by TusHoldings, that is, building an innovation ecosystem with features of TusHoldings through the "multi-dimensional triple helix" model of government-enterprise-university, park-industry-finance and technology-capital-industry; and the ways to enhance core competitiveness of TusHoldings by building global innovation network, vertical incubation system and innovative industrial clusters.
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Preller, Rebecca, Holger Patzelt, and Nicola Breugst. "Entrepreneurial visions in founding teams: Conceptualization, emergence, and effects on opportunity development." Journal of Business Venturing 35, no. 2 (March 2020): 105914. http://dx.doi.org/10.1016/j.jbusvent.2018.11.004.
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Knipfer, Kristin, Emanuel Schreiner, Ellen Schmid, and Claudia Peus. "The Performance of Pre-Founding Entrepreneurial Teams: The Importance of Learning and Leadership." Applied Psychology 67, no. 3 (December 20, 2017): 401–27. http://dx.doi.org/10.1111/apps.12126.
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Galkina, Tamara, and Soren Kock. "The influence of entrepreneurial infrastructure on entrepreneur networking: a comparative case study of Russian and Finnish founding teams." International Journal of Entrepreneurship and Small Business 13, no. 3 (2011): 238. http://dx.doi.org/10.1504/ijesb.2011.041659.
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Littunen, Hannu. "Management Capabilities and Environmental Characteristics in the Critical Operational Phase of Entrepreneurship—A Comparison of Finnish Family and Nonfamily Firms." Family Business Review 16, no. 3 (September 2003): 183–97. http://dx.doi.org/10.1177/08944865030160030401.
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This study seeks to clarify which factors associated with the start-up and critical operational phase of family and nonfamily firms influence the ability of those firms to survive over the critical first three years of their existence. In search of potential differences in the structural characteristics between these two types of firms, this study compares owners of Finnish family and nonfamily businesses in motives for founding the firm, characteristics of the local environment, changes in strategic factors, changes in networks, and differences in style of management. The findings revealed marked differences in individuals’ motives for founding a business: for family business owners, the presence of negative situational factors were the more important motivating and precipitating factors in creating a new business. With respect to style of management, in a typical family enterprise, ownership, management, and family are combined in a single entity. In the surviving nonfamily firms, entrepreneurial teams were found to be important in bringing the skills needed for the strategy-development process. Finally, family firms were most commonly located in the capital area, although some were also found in rural areas, whereas nonfamily firms were most commonly found in service center regions.
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Ganotakis, Panagiotis, Alfredo D'Angelo, and Palitha Konara. "From latent to emergent entrepreneurship: The role of human capital in entrepreneurial founding teams and the effect of external knowledge spillovers for technology adoption." Technological Forecasting and Social Change 170 (September 2021): 120912. http://dx.doi.org/10.1016/j.techfore.2021.120912.
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Debrulle, Jonas, Johan Maes, and Elliroma Gardiner. "New ventures: how team motivation affects financial outcomes." Journal of Business Strategy ahead-of-print, ahead-of-print (August 12, 2020). http://dx.doi.org/10.1108/jbs-06-2020-0119.
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Purpose The purpose of this paper is to contribute to understanding the impact of entrepreneurial team composition on new venture performance. Different types of entrepreneurship motivation among founding team members are defined. Using a relatively recent theory as a framework (i.e. self-determination theory), the authors group these motives into two categories: autonomous and controlled motivation. The business impact of the level of each type of motivation within the team, as well as the impact of having team members with different motivational drivers, is examined. New venture performance is modelled in two different ways: financial performance (i.e. return on assets) and innovation performance. Design/methodology/approach The analyses are based on 66 founding teams active in diverse activity sectors. The teams represent a total of 142 business founders. Data was collected through structured interviews, a company questionnaire and a secondary data source (i.e. certified financial statements). Findings The results confirm that the level of autonomous motivation within the team contributes to start-up financial performance, whereas the level of controlled motivation hampers innovation performance. No direct effects of diversity of team member motivation on start-up performance were discovered. Originality/value This is one of the first papers to study multiple firm performance effects of the composition of entrepreneurial founding teams in terms of motivation.
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Wang, Xinchun, Xiaoyu Yu, and Xiaotong Meng. "Entrepreneurial Bricolage and New Product Development Performance in New Ventures: The Contingent Effects of Founding Team Involvement." Entrepreneurship Research Journal, June 28, 2021. http://dx.doi.org/10.1515/erj-2020-0485.
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Abstract New product development (NPD) performance is a key determinant of a new venture’s success. However, compared with established firms, new ventures often suffer from resource constraints when developing new products. Entrepreneurial bricolage is reported in the literature as an alternative strategic option that enables managers to overcome resource constraints when developing new products. However, because new ventures are often founded by an entrepreneurial team, the effectiveness and efficiency of using bricolage to improve NPD performance might be contingent on how the founding team plays its roles in this process. Using data from 323 new ventures in China, we find support for the critical role of entrepreneurial bricolage in improving NPD success under resource constraints. More importantly, our results reveal that the bricolage strategy is more likely to benefit a venture when the founding team is composed of members with diverse functional backgrounds and is not heavily involved in strategic decision-making.
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Das, Willy, and Satyasiba Das. "A comparative study of novice and habitual entrepreneur’s choice for founding team member." Journal of Entrepreneurship in Emerging Economies, May 17, 2022. http://dx.doi.org/10.1108/jeee-12-2021-0456.
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Purpose The purpose of this paper is to investigate and compare what criteria novice and habitual entrepreneurs use while adding members to the founding team. Design/methodology/approach This paper uses conjoint analysis (CA) to provide the order of preference for the “choice attributes.” The logic of CA is that even if two or more attributes influence the choice, it is unlikely that those attributes will have equal importance for founders with different entrepreneurial experiences. Findings This paper found a significant difference in the ranking of the attributes by novice and habitual entrepreneurs. In novice entrepreneurs, the effect of direct ties in the form of kinship ties has the highest preference, followed by prior social contact and prior work relations. However, personal friendships and resource dependency received lesser importance than interpersonal attraction because of the similarity in vision, beliefs and values. Habitual entrepreneurs, however, valued resource dependency and prior work relations more than kinship ties. Also, unlike novice entrepreneurs, habitual entrepreneurs sought cofounders from their indirect ties. Practical implications There has been an explosion of interest and funding for programs that help entrepreneurs establish a cofounding team. The authors inform these programs related to the decision concerning assisting novice and habitual entrepreneurs. Originality/value While prior studies examined a single attribute at a time, the strength of this study lies in simultaneously tapping all attributes, along with multiple indicators for each attribute. Additionally, this study distinguishes the selection criteria of cofounders based on the entrepreneurial expertise of the lead founder.
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Noack, David, Douglas R. Miller, and Rebecca Guidice. "The heavy cost of kumbaya–understanding the survival implications of nascent venture ownership structure." Journal of Small Business and Enterprise Development ahead-of-print, ahead-of-print (August 3, 2021). http://dx.doi.org/10.1108/jsbed-04-2020-0131.
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PurposeThis paper brings in relevant entrepreneurial behavior theory to understand the ownership decisions founders make during the nascent stage of new venture creation, and how such decisions impact the viability of the firm.Design/methodology/approachThe authors examine the behavior and decision making of 137 lead founders during the nascent stage of new venture creation. Psychological ownership and environmental uncertainty are measured of lead founders when dividing up firm ownership among the founding team. Using a longitudinal approach, these nascent-stage decisions are then analyzed to understand the impact on the new venture one year later.FindingsCounter to prior research suggesting teams are better off with identical wages and ownership, the authors find such harmony (i.e. “kumbaya”) pursuit to be a detriment to new venture emergence. Specifically, this study finds that nascent ventures are better off with an unequal ownership split among the founding team members. These findings suggest that nascent firms with an unequal split are more likely to move beyond the nascent stage and launch a functional business.Research limitations/implicationsAlthough the results of this study offer a valuable contribution to lead founders and new businesses, the study looked at each startup independent of another and is therefore not able to draw any conclusions related to competitiveness.Practical implicationsLead founders and founding teams frequently divide ownership evenly among the founders. This paper shows that, while convenient, the decision to divide ownership equally can hamper a nascent firm as it moves toward the launch phase of the startup process. These results should motivate founders to think deeply regarding the ownership structure decision and, at the very least, consider the possible negative costs associated with the pursuit of founding team unity.Originality/valueWhile scholars have brought attention to the nascent stage, few have identified and analyzed the decisions that take place during this critical time of the new venture development process. Furthermore, even is less is known of the impact nascent decisions have on startup launch. This study sheds light on these areas.
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Larsson, Anthony. "The 4 I’s of Entrepreneurship: A Study of the Entrepreneurial Perspectives behind A Failed Large-Scale Distributed Research Infrastructure." Entrepreneurship Research Journal 9, no. 3 (July 10, 2018). http://dx.doi.org/10.1515/erj-2017-0115.
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Abstract This case study investigates whether collective entrepreneurial team cognition remains consistent throughout all stage processes when setting up a large-scale, distributed research infrastructure. A new “action phase model” has been devised, known as the “4 I’s of entrepreneurship”, with each “I” elucidating the entrepreneurial rationale behind various stages of the creation process: Intention, Initiation, Implementation and Introspection. The case investigated was BBMRI.se (BioBanking and Molecular Resource Infrastructure in Sweden) – a Swedish large-scale distributed research infrastructure aimed at harmonizing biobanking standards. Managers and key personnel involved in founding and/or operating the organization were interviewed. The results showed there was agreement regarding the need for the research infrastructure, while there were disagreeing perceptions of what the organization should be doing and regarding the difficulties it had faced. These developments would ultimately lead to BBMRI.se’s demise. The homogenous mindset would begin to dissipate once the Initiation stage was reached and worsened throughout the Implementation stage. The results indicate that BBMRI.se’s managerial structure, personal ambitions and lack of transparency and communication were key contributors to its ultimate failure. The implications highlight the risk of fragmented motivations as collective entrepreneurs turn their ambition into reality, if given too much autonomy.
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Mihajlović, Nina, Sanja Marinković, and Jovana Rakićević. "Towards a Review of Key Success Factors in Technology Entrepreneurship." Management:Journal of Sustainable Business and Management Solutions in Emerging Economies, October 26, 2022. http://dx.doi.org/10.7595/management.fon.2022.0007.
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Research Question: Through a systematic review of the relevant literature, this paper identifies and analyses key success factors in technology entrepreneurship and provides a novel classification and systematization of the factors. Also, it provides a prioritization of the selected factors by tech entrepreneurs. Motivation: The conditions of uncertainty and the dynamic environment in which one technological venture operates cause that only a small number of them succeed (Baron, 2000; Changsok et al., 2012; Tomy & Pardede, 2018; Chen et al., 2019). Comprehensive systematization of success factors is lacking in the professional literature. This paper contributes to the literature in this field by systematizing and prioritizing the key success factors in technological entrepreneurship, as a usable basis for further research and decision making. Idea: The core idea of this paper was to provide an overview of existing knowledge and a systematized basis for further research, but also for work in the practice of technological entrepreneurship, giving guidance to all stakeholders and decision makers, entrepreneurs, investors and policymakers. Data: The review was conducted using online repositories of scientific publications on technology entrepreneurship success factors published in the period from 1980 to 2021. In total, 661 articles were identified, while 45 articles met the selection criteria and represent the basis for further research of this paper. In order to determine the prioritization of the identified factors, empirical research was conducted among decision makers of technological entrepreneurial ventures. Tools: The research and review of the literature were conducted by structured keyword search of the Web of Science database, while the process of article selection was performed using the identified selection algorithm, based on two phases, which both included the selection criteria. For the purposes of empirical research, the Google form questionnaire was used for collecting the data on the prioritization of the factors by technology entrepreneurs. Findings: The factors that are key to the success of technology ventures are often complex in nature. 151 originally identified success factors from different authors were classed into 31 groups. Based on the identified groups, five large groups of factors were used for classification: "characteristics of the founder/founding team", "environment", "technology and innovation", "organization" and "strategy". As a result of empirical research, the factor “motivation” emerges as the most influential factor on a venture’s success, while the “size of the founding team” is identified as the least influential. Contribution: This paper extends the existing literature providing the systematization of key technology entrepreneurship success factors with the systematization of scientific publications as a basis for further research.
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Jung, HeeJung, Balagopal Vissa, and Michael Pich. "How Do Entrepreneurial Founding Teams Allocate Task Positions?" SSRN Electronic Journal, 2015. http://dx.doi.org/10.2139/ssrn.2697510.
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Arora, Ashish, Andrea Fosfuri, and Thomas Rønde. "Waiting for the Payday? The Market for Startups and the Timing of Entrepreneurial Exit." Management Science, September 11, 2020. http://dx.doi.org/10.1287/mnsc.2020.3627.
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Most technology startups are set up for exit through acquisition by large corporations. In choosing when to sell, startups face a trade-off. Early acquisition reduces execution errors, but later acquisition both improves the likelihood of finding a better match and benefits from increased buyer competition. Startups’ exit strategies vary considerably: Some startups aim to sell early; others remain in stealth mode by developing the invention for a late sale. We develop an analytical model to study the timing of the exit strategy. We find that startups with more capable founding teams commit to a late exit, whereas those with less capable founding teams commit to an early exit. Finally, startups with founding teams of intermediate capabilities remain flexible: They seek early offers but eventually sell late. If trying the early market is so costly that startups have to make a mutually exclusive choice between an early and late sale, startups sell inefficiently late. Instead, if they can collect early offers at no cost before deciding on the timing of sale, there are too many early acquisitions. This paper was accepted by David Simchi-Levi, business strategy.
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Chen, John S., Daniel Walter Elfenbein, Hart E. Posen, and Ming zhu Wang. "The Problems and Promise of Entrepreneurial Partnerships: Decision Making, Overconfidence, and Learning in Founding Teams." Academy of Management Review, May 7, 2020. http://dx.doi.org/10.5465/amr.2019.0119.
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Ferràs-Hernández, Xavier, Elisenda Tarrats-Pons, Núria Arimany-Serrat, and Albert Armisen-Morell. "The Value of PhDs: How the Presence of PhDs in Founding Teams Increases the Attractiveness of Startups for Corporate Investors." International Journal of Innovation and Technology Management 18, no. 07 (October 22, 2021). http://dx.doi.org/10.1142/s0219877021500383.
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The creation and development of new technology-based firms (NTBFs) is at the core of national prosperity, and constitutes a key activity of the innovation policies of advanced and developing economies. Many of these companies are founded by postgraduates that hold a doctorate (PhDs). Governments foster the creation of NTBFs by PhDs to take advantage of the stock of knowledge which exists in universities and research centers. It is assumed that founders with a high level of specialization and knowledge, such as PhDs, will bring strong competitive advantages to the companies they found. The literature in this regard, however, is scarce and inconclusive. We have studied the role of PhDs in founding teams of NTBFs in a specific kind of entrepreneurial process: corporate venturing. Our conclusions suggest that companies with PhDs are significantly more attractive to corporate venture capital. Corporate venturing has a higher propensity to invest in NTBFs with PhDs in the founding teams, and these companies concentrate a higher number of corporate investors, in a kind of accumulative effect.
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Shi, Wei, and Matthew Weber. "The impact of entrepreneurs’ prior experience and communication networks on perceived knowledge access." Journal of Knowledge Management ahead-of-print, ahead-of-print (December 8, 2020). http://dx.doi.org/10.1108/jkm-05-2020-0365.
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Purpose Entrepreneurs approach the startup process with a stock of experience and a unique range of accumulated skills and abilities. Their prior experience shapes an “information funnel” through which the entrepreneurs’ attention is filtered. This study aims to investigate the impact of the relatedness of prior knowledge and knowledge acquisition activities on entrepreneurs’ perceived knowledge access. Design/methodology/approach Survey data were collected from 100 early-stage entrepreneurs in the New York City metropolitan area to empirically test the proposed relationships with the method of conditional process modeling. Findings Findings from this study demonstrate a negative relationship between entrepreneurs’ prior experience and their perceived ability to access knowledge. However, this negative relationship can be mitigated by seeking tacit knowledge through informal channels. In addition, the relatedness of prior experience plays a positive role in influencing media use and knowledge network engagement. While media use is a positive predictor of perceived knowledge access, engagement within knowledge networks shows no direct influence on perceived knowledge access. Originality/value This study sheds light on the dimensions of entrepreneurial knowledge and recognizes perceived knowledge access as an important concept in forming an entrepreneurial intention and adds to the current dialogue on the interpretation of entrepreneurs’ prior experience. For practitioners, this study offers insights into the formation of founding teams and the approaches to obtaining valuable information.
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Woods, Jeremy Alan, Gloria Sweida, Peter Burley, Hanqing "Chevy" Fang, and Zhenning "Jimmy" Xu. "The IMPACT of FAMILY SOCIAL CAPITAL on RESOURCE DEPLOYMENT in CHINESE ENTREPRENEURIAL FIRMS." Journal of Small Business Strategy 32, no. 4 (December 8, 2022). http://dx.doi.org/10.53703/001c.36605.
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One of the most important determinants of performance for any firm is the unique bundle of resources the company possesses. To date, however, empirical results on whether “familiness” as an element of this resource bundle has a positive or negative impact on firm performance have been mixed (Dyer, 2018; Gottardo & Moisello, 2019; Oswald et al., 2009; Pitchayado et al., 2018). This paper employs structural equation modeling to examine how entrepreneurs in China’s Zhejiang Province include members of their nuclear families, extended kin networks, and professional networks in their top management teams to access different bundles of family and non-family human resources, leading to variance in firm performance results. We find firms that leverage “guanxi” (a particular concept of kin, common in China but not often employed as a construct in western-based research, which encompasses both extended family members and close friends) for industry, technical, or entrepreneurial expertise enjoy certain types of higher performance results. In comparison, firms that leverage nuclear family members for management or marketing expertise achieve certain types of lower performance results. Post-hoc analysis indicates that leveraging guanxi specifically for prior entrepreneurial experience or for technical expertise leads to greater employee growth and higher subjective assessment of success. Conversely, leveraging nuclear family members for management or technical expertise leads to lower levels of these same performance variables. However, only firm size, measured by number of employees at venture founding, is predictive of revenue growth.