International Journal of Entrepreneurial Venturing (7 papers in press)

Regular Issues

• RADICALLY RETHINKING THE WAY CROWDFUNDING WORKS: THE CASE OF JUMPSTARTFUND AND THE HYPERLOOP  
  by Nikolaus Lipusch, Dominik Dellermann, Ulrich Bretschneider, Philipp Ebel, Jan Marco Leimeister 
  Abstract: In this research, we explore the unique case of JumpStartFund, a new crowdfunding platform that is used to develop the Hyperloop project. To this end, we employ an in-depth single case study to examine the participation architecture of the platform as well as the Hyperloop campaign content, based on which we derive a new crowdfunding model. The derived crowdfunding model differs from existing crowdfunding models in that it allows entrepreneurs to develop their business with the crowdmore actively. Our research has important implications for research and practice. First, we introduce a new crowdfunding model that expands the boundaries of existent models. Second, we explain how our model helps to more efficiently leverage the potential inherent in the crowd thereby redefining entrepreneurial success within crowdfunding. Third, we discuss how our findings contribute to existent research within the context of crowdsourcing.
  Keywords: crowdfunding; case study; crowdfunding models; co-creation.
  DOI: 10.1504/IJEV.2019.10018319
   
  
• Specialization and Syndication as Risk Management Strategies for Venture Capital Firms in India  
  by Kshitija Joshi 
  Abstract: This paper presents an analysis of syndication and domain specialisation strategies pursued by the venture capital (VC) firms in India. Using the theoretical lens of the resource-based view, we explore how three main resource-related attributes: resource structure of the VC firms, resource requirements of the investee ventures and the ease of access to resources, drive the intensities of syndication and specialisation for the VC firms under study. We use the K-means cluster analysis technique, to analyse and profile four distinct VC firm segments: a) low syndication and low specialisation; b) high syndication and low specialisation; c) low syndication and high specialisation; d) high syndication and high specialisation. Our study contributes to the extant literature on VC investment strategies, top management teams and fills an important gap on the literature pertaining to VC firms in India.
  Keywords: Venture Capital; Syndication; Specialization; India; Social Capital; Human Capital; Top Management Teams.
  DOI: 10.1504/IJEV.2019.10018320
   
  
• Bound for Glory or Cursed for Life? Exploring the Impact of Initial Resources on the Venture Emergence of New Technology-based Firms  
  by Ferran Giones, Francesc Miralles 
  Abstract: The value of existent firm's resources in uncertain and dynamic contexts is unclear. It is difficult to determine whether starting a new firm with a strong resource position will give an advantage in technology-intense contexts. We propose a revision of the role of resources in new tech-based ventures. We adopt a mixed-method approach. We use the cases of 21 new technology firms to build propositions on what factors (resources) play a role in new venture emergence. We then test to what extent those resources make an effect on the new venture emergence using a longitudinal dataset of 400 new technology-based firms. The results show that not all resources matter equally in the early-stages of a new technology-based firm. We identify that specific combinations of entrepreneurial experience and industry knowledge has a positive impact, while other resources such as technology assets, surprisingly, do not generate a clear impact.
  Keywords: Technology Entrepreneurship; Venture Emergence; Technology Resources; Panel Data Set.
  DOI: 10.1504/IJEV.2019.10018627
   
  
• Don’t throw in the towel too early! How agency conflicts affect the survival of Corporate Venture Capital units  
  by Daniel Fischer, Deniz Philipp Kruse, Hannes Leonardy, Christiana Weber 
  Abstract: We empirically investigate the largely unexplored relationship between corporate top management teams (TMT) and CVC unit managers. Doing so, we provide new insights into the interplay between TMT decisions and CVC managers' behaviour and how agency conflicts between them influence the survival of CVC units. Using a proprietary dataset of 64 CVC units we apply fsQCA in order to identify the interrelatedness, causal asymmetry and equifinality of agency-related conditions leading to survival. We relativise former literature by demonstrating that financial incentivisation of CVC managers need to be complemented by additional factors to impact the survival of CVC units. Further, we conclude that the decision-making autonomy of CVC managers seem to work as a form of non-financial incentive. Finally, we demonstrate that the configuration of providing strategic support, investing with high strategic proximity, and non-autonomously acting CVC managers is related to non-survival of the CVC unit.
  Keywords: Corporate Venture Capital; CVC; Survival; Agency Theory; Configuration; Qualitative Comparative Analysis; QCA.
  DOI: 10.1504/IJEV.2019.10019042
   
  
• Creative Industries Integrated Clustering to Foster Innovation (Case at Bandung’s Creative Industries)  
  by Christina Wirawan, Leo Aldianto, Grisna Anggadwita, Vania Nur Rizqi 
  Abstract: Creative industry captures new economy dynamics based on creativity, skill and talent. Creative industries grow fast and contribute more to national economic development. In order to sustain contributions to economic development, creative industries need to innovate productively. One way to encourage innovation is to foster co-creation by strengthening the effectiveness of creative industries relationships with stakeholders, such as community, consumers, suppliers and other creative industries, as well as to generate information and knowledge to support them. An integrated cluster will support industry efficiency; better facilities; infrastructure; amenities; services; as well as better protection of the environment and social relationships. Placing creative industries in an integrated cluster will provide better collaboration opportunity that will support co-creation that will trigger innovation. This paper will provide a conceptual framework of integrated symbiosis creative industries clustering to foster their innovation toward sustainability and high-performance using the value co-creation platform concept.
  Keywords: ccluster; creative industry; innovation; sustainability; value co-creation platform.
  DOI: 10.1504/IJEV.2020.10021575
   
  
• LEARNING STRATEGIES OF HIGH-TECH ENTREPRENEURS ABOUT BUSINESS OPPORTUNITIES  
  by Izak Fayena, Adrian Nelson, Lyndsay Rashman, Deryck Van Rensburg 
  Abstract: This two-phase, sequential mixed methods, utilising a qualitative, followed by a quantitative study was conducted with 178 high-tech entrepreneurs based in Israel. The study focuses on how entrepreneurs learn about business opportunities and explores the factors that affect the way they do it. A conceptual model is presented and then empirically tested. The results show that entrepreneurs learn strategically about business opportunities. Six learning strategies were identified as relevant to the process of opportunity identification. Prior knowledge of foreign markets was found as the most significant factor, while cognitive style was found to moderate the strength of the relationships between prior knowledge and the learning strategies. Entrepreneurs can benefit from these findings by recognising that they have a battery of learning strategies, which are relevant to the opportunity identification process. The identification of six learning strategies that are relevant to the process of opportunity identification is unique to this study.
  Keywords: High-Tech Entrepreneurship; Entrepreneurial Learning; Learning Strategies; Opportunity Identification.
  DOI: 10.1504/IJEV.2020.10023034
   
  
• INFLUENCE OF UNIVERSITY-RELATED FACTORS ON STUDENTS’ ENTREPRENEURIAL INTENTIONS  
  by Claudia Alvarez, Tatiana Lopez 
  Abstract: This study analysed the influence of university education factors on the entrepreneurial intentions of 35,335 Latin American students, using structural equation modelling. The main contribution of this study is a model of higher education factors as antecedents in the theory of planned behaviour, to explain the entrepreneurial intention in developing countries. The main results show that entrepreneurship courses and the favourable perception of an entrepreneurial university environment were positively related to entrepreneurial intentions. Although both variables have a direct effect on such intentions, the university environment was a stronger one. These results deepen the extant empirical research on the subject, since most scholars have focused on indirect effects instead. Universities should design strategies beyond their classrooms that are aimed at improving the intentions that will guide students' entrepreneurial behaviour and choices.
  Keywords: Entrepreneurial intention; entrepreneurship education; university entrepreneurship; university environment; Global Entrepreneurial Spirit Students’ Survey; GUESSS project; Latin America.
  DOI: 10.1504/IJEV.2019.10024449