Abstract
Feedback about business plans is thought to potentially improve ventures’ decisions and outcomes. Nonetheless, there is no direct experimental evidence supporting that assumption. We show a randomized controlled trial that tests the effect of giving written feedback to entrepreneurs’ business plans on the subsequent survival of their venture. Out of 88 high-stakes entrepreneurs, half randomly received written feedback and half did not. Later on both groups participated in the incubator program Startup Chile and received $40,000. After four years treated entrepreneurs were 50% more likely to list their ventures in key websites like AngelList, a proxy for having lasted longer.
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