From grand idea to viable execution: how do venture and entrepreneurs co-evolve?

We empirically investigated the effect of intensive mentoring and feedback on co-evolution of cognitive development of entrepreneurs and their venture. A diverse sample of forty entrepreneurs was followed over twelve months in a business incubator in the Netherlands, and extremely detailed qualitative data from the entrepreneurs' weekly logbooks were collected. We found that focused feedback does influence co-evolution of entrepreneurial mindset and venture but also depends on the stage of the venture as well as on prior entrepreneurial experience.