Journal of Business Venturing Insights最新文献

Accelerators are gaining popularity in the entrepreneurship ecosystem for accelerating new ventures by providing benefits such as learning, sorting, and signaling. However, theoretical tension exists about whether these benefits are contingent on quality of institutions. The institutional-void view suggests that accelerator benefits are more pronounced in countries with weak institutions, while the institutional-support view posits the importance of strong institutions for realizing the benefits of accelerators. In this study, we theorize and test the moderating role of institutions in assessing the impact of accelerators on new venture performance using a generalized difference-indifferences technique on a worldwide accelerator database. At the baseline, the findings are consistent with previous literature, which shows a positive impact of accelerators on new ventures performance. More importantly, the key insight of our study is that the positive impact of accelerators is higher in countries with stronger institutions, thus favoring the institutional-support view. These findings contribute to emerging empirical research that assesses the impact of business accelerators on new venture performance.

The underlying rationale of Entrepreneurial Ecosystems (EE) interactions is essentially attached to geographical space. So far, literature remains largely focused on a shortsighted notion of EE as ‘insular’ systems. In this article we address the spatial dynamics of two ecosystems based on the inflow of venture capital over the last three decades. Drawing from the cases of Tokyo and Bangalore, our key insight is that the EE configurations cannot be properly understood without a clear assessment of its spatial features. i.e., the geographical scope of connections that compose EE. As it turns out, EE present heterogeneous spatialities – and these evolve along different trajectories. This, we believe, is a key missing piece of the EE theoretical puzzle.

As the demand for seed accelerators grows, so does the complexity of their evaluations of numerous startup applications. This paper introduces a novel two-phase data-driven framework for startup performance prediction. Phase 1 extracts founding team-level and venture-level features applicable to early-stage startups for success prediction. Phase 2 further engineers cohort-level features to predict the success of accelerator-admitted startups. We demonstrate the utility of our framework by leveraging machine learning methods coupled with real-world data of 35,647 startups (accelerator intakes: 763). We achieve high predictive accuracy and produce explainable results. We make methodological contributions to startup competitor detection and industry categorization. The key insight of our study is that member success largely depends on cohort-level features such as shared industries with different members and industry similarity to the accelerator's past portfolio.

While emerging evidence suggests that bricolage may contribute to new venture internationalization by helping overcome situations of resource scarcity, the limitations or “dark side” of bricolage have been overlooked. We present a competitive mediation framework, in which bricolage is hypothesized to have both (1) a positive effect on new venture internationalization through innovativeness and international aspirations, as well as (2) a negative effect through operating costs and international aspirations. Using a sample of 344 Australian new ventures from the four-year longitudinal CAUSEE study, the results support our hypotheses. Over time, however, the negative effect dissipates and only the positive mediated effect remains. Our work contributes quantitative evidence of competing mediation mechanisms to largely exploratory research on bricolage and internationalization and answers calls for longitudinal examinations of new venture internationalization. In doing so, we join a broader conversation on the complex relationship between bricolage and new venture outcomes and point out opportunities for further research on new venture internationalization.

Supporting the implementation and growth of innovative start-ups to bring innovation to the market and foster local development, in terms of economic and social results, is on the agenda of policymakers worldwide. The latters constantly identify new specific tools, define more focused actions, and – in some cases – enact dedicated policies (local or national laws) in order to push individuals to start entrepreneurship processes.

In this regard, the Italian Start-up Act is worth mentioning since it stands for the first-ever national law, enacted in 2012, promoting and regulating innovative start-ups. Ten years after the enactment of the Italian Start-up Act, it is interesting to assess its impact and evaluate whether and to what extent it succeeds in bringing innovations to the market and fosters local development in Italy. The results of several previous studies – which look at the same sample of start-ups, but from different perspectives – are collected and compared in order to offer a broad overview and a comprehensive evaluation of this law.