Risk Management in Innovative Startups and the Role of Investors and Business Accelerators

Abstract

The aim of the article is to analyze the importance of risk management in young innovative enterprises, particularly in startups. The article presents the results of research conducted among small and medium-sized enterprises operating for no longer than 5 years with their headquarters in the Podkarpackie Province. An analysis was made on how young companies, in particular those implementing innovative and therefore risky solutions, manage the risk. An attempt was made to determine if and how the entrepreneurs perceive the risks in their environment as well as inside the entities. The article also presents whether and which risk identification and mitigation procedures are used among startups operating in the Podkarpackie Province. Undoubtedly, an identification of risk itself, the ways to minimize its negative effects and the scope of application of these methods depend to a large extent on the entrepreneurial attitude of the business owner himself. Therefore, the study also reviews the methodology of enterprise management in terms of its application in the area of risk management in startups based on new technologies. The authors pointed to the possibilities of implementing such methodologies as: Customer Development, Design Thinking and Lean Startup. They pointed to the role of the methodologies of building and developing startups in business accelerators. They also referred to the role of investors in the area of risk management in startups.