Entrepreneurial Ventures Research Articles

Off the Guardrails: Opportunities and Caveats for Name Image Likeness and the [Student] Athlete Influencer

The landscape of college athletics is undergoing a seismic shift with the advent of Name, Image, and Likeness (“NIL”) opportunities for student-athletes. In Off the Guardrails: Opportunities and Caveats for Name Image Likeness and the [Student] Athlete Influencer, Professor Maureen A. Weston examines the evolving terrain, tracing the journey from the National Collegiate Athletic Association’s (“NCAA’s”) rigid amateurism policies to the current era of NIL legislation and its implications. This Article navigates the complex intersection of athlete empowerment, entrepreneurial ventures, and regulatory challenges, shedding light on the multifaceted opportunities and risks for athletes in the burgeoning NIL market. Delving into the heart of the matter, Weston dissects the dynamics of NIL dealmaking, unveiling the potential windfalls and pitfalls awaiting collegiate student-athletes. From the allure of financial independence to the specter of predatory practices and regulatory ambiguities, the author uncovers the intricate tapestry of concerns surrounding the NIL framework. Drawing on insights from legal, regulatory, and ethical perspectives, Off the Guardrails offers a roadmap for those navigating this uncharted territory, exploring avenues for policy reform, regulatory harmonization, and athlete welfare safeguards in the quest for a balanced and equitable future for student-athlete influencers.

The Role of Institutions in the Pursuit of Social Motives in Entrepreneurial Ventures

The Role of Institutions in the Pursuit of Social Motives in Entrepreneurial Ventures

The Effect of Stakeholder Orientation on Entrepreneurial Ventures

The Effect of Stakeholder Orientation on Entrepreneurial Ventures

Using Social Media for Opportunity Exploration in Social Entrepreneurial Ventures

Using Social Media for Opportunity Exploration in Social Entrepreneurial Ventures

Maintaining Balance Through the Ups and Downs of Entrepreneurial Venturing

Maintaining Balance Through the Ups and Downs of Entrepreneurial Venturing

Enhancing Entrepreneurial Orientation among Women: A Multi Regression Approach

The survival, growth and prosperity of any region depend upon its economy. While the government undertakes every step it can take to boost the economy of a region, it cannot uplift the economy alone. The entrepreneurs play a pivotal role in assisting the government in completing this Herculean task. The contribution of entrepreneurs is even more significant in small states like Uttarakhand, which is still in its nascent state after being carved out in 2000 as the 27th state of India. The hilly terrains, remoteness from the center, and extreme climate all contribute to making its economy more contingent upon the entrepreneurial ventures of the indigenous people. While there is a surge of entrepreneurial activities in urban areas close to the plains, there is a dearth of such endeavors in the hilly areas. The situation is graver in the rural areas of the hilly region, especially for women as most of them lack awareness, resources and support and are primarily engaged in agricultural and husbandry activities. A paradigm change is required for the inclusion of such women for the holistic and heuristic development of the economy. This demands a shift from an agrarian to an entrepreneurial civilization. However, entrepreneurial orientation cannot be developed overnight and in isolation. It requires the instillation of personality characteristics. In the present paper, the researchers have identified three personality variables: – self-esteem, self-efficacy, and locus of control as the antecedents of entrepreneurial orientation and, using multiple regression, have explored the contribution of these personality variables to entrepreneurial orientation among women in the hilly region of Uttarakhand. The data for the present study were collected using stratified sampling and structured questionnaires from 200 women in the age group of 18 years to 40 years. The finding revealed that the personality variables accounted for 66.5 % of the variation in entrepreneurial orientation. Further, it also revealed that locus of control (LOC) contributed most to the development of entrepreneurial orientation (EO), followed by self-efficacy and self-esteem.

What Are the Barriers Impeding Female Graduates in Higher Education from Pursuing Entrepreneurship in China? An Investigation from a Theory of Planned Behaviour Perspective.

This study investigates the obstacles encountered by female graduates in China's higher education system when considering entrepreneurship by employing the Theory of Planned Behaviour as an analytical framework. Although entrepreneurship is widely acknowledged as crucial for economic and personal growth, gender inequalities remain, with women being severely underrepresented. The primary objective of this study is to gain insight into the underlying reasons behind the reluctance of female university students, specifically in China, to pursue entrepreneurial ventures. In this study, we conducted 30 semi-structured interviews with female university students from different majors to identify the key barriers that discourage them from starting their businesses. The factors discovered are instrumental and affective attitudes towards entrepreneurship, subjective norms (family, friends, teachers, and others), and perceived behavioural control (encompassing past experiences, second-hand information, and anticipated obstacles). The results showed that a conservative familial atmosphere, risk-averse cultural norms, and limited access to helpful resources and experiences in universities are major obstacles. This study enriches the present knowledge by providing a detailed explanation of the gender-specific obstacles in entrepreneurship in the Chinese context. It proposes that interventions at the educational and governmental levels are imperative to promote female entrepreneurship.

Is “Open” ready for investment? A venture capitalist’s dilemma

Learning outcomes Upon completion of the case study, student will be able to discuss valuation of new-age ventures and understand how it is different from the valuation of organisations with a longer history; analyse the considerations (quantitative and qualitative) while evaluating investments in new-age ventures; and develop a framework involving the various dimensions of investment readiness. Case overview/synopsis The fintech space in India has seen an upsurge of activities since 2016. The growth of Paytm, RazorPay and many such ventures and the drastic improvements in this ecosystem have been significant catalysts for this segment of new-age tech companies. Funding and valuations have seen a sharp increase, especially when businesses worldwide felt the after-effects of the pandemic, with India being home to a large number of unicorns, second only to the USA. Open Financial Technologies Ltd (OPEN TECH) is one such venture that claimed its spot as the 100th unicorn of India within a span of five years since inception. With a strong focus on disrupting the banking sector in India, this neo-bank aspires to be the equivalent of Stripe in India and eventually be a strong competitor in the international market. Richard O’Neil is an active investor in the fintech space, based out of the UK, and he is currently looking to expand the market by considering investment options. In the process, Richard and his team have identified India as a viable and competitive market, as new venture support and funding are increasingly emphasized through policies such as Startup India, Make in India and many such more to sustain and propel its benefits. As the team was exploring ventures worth investing, Open Financial Technologies caught their attention. However, Richard, given his experience across fields and being a seasoned private equity investor, realised that valuing new-age companies is as much an art as it is a science. Multiple quantitative and qualitative aspects need to be considered while relevance of traditional valuation techniques to put a value on such entrepreneurial ventures is questioned. At this juncture, he finds it crucial to evaluate the investment readiness of OPEN TECH. This case allows students to understand how valuation of new ventures is different from that of established companies and analyse the crucial factors worth considering while evaluating an investment proposal as a venture capitalist, which eventually helps shape the funding pitch of an entrepreneur in the space. Complexity academic level This case study can be useful for students undertaking graduate- and executive-level courses on business valuation and strategy and entrepreneurship, as well as entrepreneurial finance elective at the undergraduate level. One could use this case in courses on entrepreneurship and innovation, such as an introductory course on entrepreneurial finance and a course on venture capital and private equity. It also allows discussion on fintech and neobanking and the valuation of privately held companies. Supplementary materials Teaching notes are available for educators only. Subject code CSS 1: Accounting and finance.

PELATIHAN KEWIRAUSAHAAN DIGITAL UNTUK PENGEMBANGAN UMKM DAN MAHASISWA DI KOTA BENGKULU

The Fourth Industrial Revolution has transformed the global business landscape with digital technologies like the Internet of Things (IoT), Artificial Intelligence (AI), and big data, presenting challenges and opportunities for entrepreneurs, especially Micro, Small, and Medium Enterprises (MSMEs) and students in Bengkulu City. This community service program aimed to address the digitalization knowledge and skills gap among these groups by enhancing their understanding of digital entrepreneurship, developing practical digital marketing skills, and supporting MSMEs' digital transformation. The training covered six main topics: understanding entrepreneurship, contemporary entrepreneurial challenges, digital technology adoption, basics of digital media (email and Google Business), basics of digital media (social media), and introduction to Online Single Submission (OSS) for business legality. Evaluation results showed a significant increase in participants' knowledge and skills in digital marketing, social media management, and technology adoption, with most participants reporting substantial benefits and improved readiness to start and manage their businesses digitally. The program not only provided immediate benefits to the participants but also contributed to MSME development in Bengkulu City by offering a training model adaptable for future initiatives, aiming to enhance MSMEs' digital capacity and prepare students for entrepreneurial ventures.

Understanding the Effect of Entrepreneurship Education on Students' Entrepreneurial Intentions

This research investigates the impact of entrepreneurship education on the entrepreneurial intentions of vocational school students. The study employs a quantitative research methodology, utilizing observation, questionnaires, and documentation as data collection methods. The target group comprises students who have received entrepreneurship education, and the study uses their responses as the research sample. Data were gathered through questionnaires based on a Likert scale, with reliability and validity tests conducted to ensure accuracy. Simple linear regression analysis was then applied to interpret the data. The findings reveal that entrepreneurial knowledge significantly influences students' intentions to engage in entrepreneurship. The relationship between entrepreneurial knowledge and entrepreneurial interest is strong and positive, indicating that as students' understanding of entrepreneurship increases, so does their intention to pursue entrepreneurial activities. Conversely, a lower level of entrepreneurial knowledge is associated with a diminished interest in entrepreneurship. These results underscore the importance of entrepreneurship education in shaping students' entrepreneurial ambitions, suggesting that enhanced knowledge can effectively foster a greater desire among students to embark on entrepreneurial ventures.

Knowledge is power: The impact of entrepreneurship education on the international entrepreneurship performance

Integrating and utilizing resources to seize business opportunities in complex and changing international markets is the key to enhancing the performance of entrepreneurial ventures. This study aimed to examine the impact of entrepreneurship education (EE) on international entrepreneurship performance. We used the resource-based view (RBV) to collect data from 315 international entrepreneurs through a questionnaire survey. The findings indicate that entrepreneurship education positively influences international entrepreneurial performance. Entrepreneurial bricolage (EB) and Entrepreneurial opportunity identification (EOI) are chain mediators of how entrepreneurship education affects international entrepreneurship performance. This study expands the application of resource theory to international entrepreneurship research, enriches the empirical research on entrepreneurship education, and provides new ideas for studying international entrepreneurship performance.

Entrepreneurship Ecosystem of Cooperatives in Mexico City

This study enhances our understanding of entrepreneurial ecosystems in Mexico City, emphasizing their crucial roles in fostering cooperative activity within specific contexts. It delves into the intricate interplay of ecosystem elements and their interconnectedness, shedding light on how it shapes entrepreneurial ventures in the region. We used a qualitative methodological approach and conducted semi-structured interviews defined from theoretical analysis and snowball sampling to identify key local actors, how they interact, and what obstacles they face. Our data show that the ecosystem comprises many actors, such as social economy organizations, civil society, beneficiaries, and alternative markets, as well as such diverse elements as the regulatory framework, public policies, and financing programs. The actors who have the most impact and work most consistently with cooperatives are the academy, cooperative unions, and government entities. All of them actively interact with each other, but we underscore the need for greater dynamism to enhance entrepreneurial activity.

Are corporate affiliations conducive to nascent entrepreneurship?

Founding an entrepreneurial venture does not comprise a dichotomous choice between market entry and non-entry; instead, a wide variety of entrepreneurial strategies are available to the nascent entrepreneur. Using data from the second Panel Study of Entrepreneurial Dynamics (PSED II), a representative sample of nascent entrepreneurial activity in the United States, this study documents that nascent entrepreneurs generally choose between founding an independent new venture and following a type of corporate-affiliated entrepreneurial strategy (CAES), such as a franchise, spin-off, or similar approach. The success of this decision is contingent upon entrepreneurs’ stock of human capital. Relevant industry experiences tend to reduce the likelihood of an entrepreneur employing a CAES, while managerial experience and previous start-up experience increases the probability. Overall, those nascent entrepreneurs who follow a CAES are more likely to achieve a first positive cash-flow; this highlights the benefits of corporate affiliations in the field of new venture founding.

Venture capital exit after venture IPO

AbstractResearch SummaryVenture capital firms (VCs) sometimes continue to hold significant equity stakes in entrepreneurial ventures after venture IPO. The information economics view suggests that retaining equity signals VC commitment and venture quality. This study conceptualizes retaining equity as holding an exchange option, the option to exchange VCs' own valuation of IPO ventures for the market's valuation. Holding this option allows VCs to benefit from the ventures' upside potential. Since exit amounts to giving up the option, the option value represents an opportunity cost of exit. VCs may delay exit if this option is sufficiently valuable. The study examines two key conditions that interact to increase the value of this option: uncertainty and positive private information. This study contributes to research on VC exit and real options.Managerial SummaryWhen do VCs retain equity rather than exit after venture IPO? Researchers have addressed the impact of signaling, cash constraints, human capital constraints, blockholding, VC fund performance, portfolio diversification and institutional features. We identify a previously unrecognized driver: to retain the opportunity to benefit from an IPO venture's upside potential that is yet to be fully recognized or realized. We submit that VCs' incentive to retain equity increases with uncertainty in the venture's industry, and VCs' positive private information as indicated by venture patent applications and positive market surprises in the venture's industry. We find largely supportive evidence for the positive joint effect of uncertainty and private information on the decision to retain equity within the first year or even two years after IPO lockup expiration.

Do incubatees form more alliances? Nature of the alliance and start-up ownership as contingencies

ABSTRACT Incubators are reputed to be key institutions for the creation and growth of viable and successful entrepreneurial ventures. One mechanism through which their beneficial action should unfold is that incubatees could be more likely to stipulate alliances with third parties. We explore, both theoretically and empirically, the possibility that this crucial bridging function performed by incubators is indeed contingent on both (a) the type of alliance that start-ups are seeking for, where we distinguish between R&D and commercial alliances; (b) the specific ownership structure of the start-ups. Our analysis is based on a dataset of 1766 incubatees and non-incubatees young innovative companies. Results highlight that incubators accomplish their bridging role depending on the two above-mentioned contingencies. In particular, incubated start-ups show higher probabilities than non-incubates to stipulate R&D alliances only if they are university-backed, while commercial alliances figure as a prerogative of incubatees only when these latter are business-backed.

Evaluating the Efficacy of Social Innovation Programming at Advancing Rural Development in the Context of Exogenous Shocks

In this paper, we design and deploy an experimental approach to evaluate the efficacy of a social innovation initiative implemented in rural communities situated in the highlands of Peru, which confronted the challenges posed by the COVID-19 pandemic in the midst of its implementation. Using three rounds of information collected before, during, and after participation, we examine the efficacy of the social innovation economic development approach at increasing household livelihoods. We present robust, statistically significant improvements in household economic well-being, food security satisfaction, and community outlook for participating households compared to non-participating households following program engagement. The results presented in this study suggest that the social innovation program facilitated a notable restructuring of the portfolio of household income and livelihood activities towards more lucrative and value-added pursuits. This transition manifested in increased involvement in entrepreneurial ventures and specialized labor associated with both agricultural and non-agricultural sectors while distancing from traditional agricultural and livestock-related endeavors. The income gains stemming from self-employment activities and wage labor outweigh the losses incurred from reduced agricultural and livestock earnings. Furthermore, our analysis underscores the resilience of innovative income-generating pathways in the face of the COVID-19 pandemic, outperforming traditional agrarian value chains. These findings highlight the efficacy of social innovation programming in facilitating economic development and also shed light on sustainable strategies for economic resilience amidst unforeseen challenges such as the recent global health crisis.

Business Risk Management Ideology and Entrepreneurial Development of Students in Tertiary Institutions in Southwestern, Nigeria

This study investigated the relationship between Business Risk Management (BRM) ideology and the entrepreneurial development of students in tertiary institutions within Southwestern Nigeria. A quantitative research design was employed, with data collected from a sample of 1918 students across five federal universities in the region. The research instrument was a structured questionnaire designed to gather information on risk identification, risk assessment and evaluation, risk mitigation and control strategies, entrepreneurial intentions, self-efficacy, and entrepreneurial behavior. The findings suggest a positive relationship between BRM ideology and the entrepreneurial development of students. Specifically, risk identification was found to significantly influence entrepreneurial intentions (p < 0.01) and self-efficacy (p < 0.05). Risk assessment and evaluation also demonstrated a significant positive impact on entrepreneurial intentions (p < 0.01), self-efficacy (p < 0.01), and entrepreneurial behavior (p < 0.05). Additionally, risk mitigation and control strategies were found to significantly contribute to entrepreneurial intentions (p < 0.01), self-efficacy (p < 0.01), and entrepreneurial behavior (p < 0.01). These findings highlight the importance of integrating BRM education into the curriculum of tertiary institutions in Southwestern Nigeria. By equipping students with the knowledge and skills to identify, assess, and mitigate potential risks, they are better prepared to navigate the challenges and uncertainties inherent in entrepreneurial ventures. This, in turn, can contribute to the growth of a vibrant and resilient entrepreneurial ecosystem in the region.

A HOLISTIC EVALUATION OF MANAGEMENT GRADUATES' DETERMINATION TO BECOME ENTREPRENEURS IN TODAY'S BUSINESS ENVIRONMENT

India has a higher rate of unemployment due to its large population, high inflation rate, and a lack of entrepreneurs. There are more job searchers than job creators. More job creators are needed in India. This dynamic business climate is providing new opportunities and sectors. Because of the pandemic Covid-19, massive technological intervention in every area resulted in new business patterns. We, too, have many sources of funding for an entrepreneurial venture. Even the government intends to promote fresh inventive ideas, incubation centers, and start-ups. The most significant barriers are a lack of understanding about funding options and central government entrepreneurial efforts. Even young people must come up with business concepts in order to launch their own ventures. They must develop their self-employment skills. This study is an attempt to examine the students' perceptions and degree of interest in pursuing entrepreneurship as a career. Various aspects, such as their demographics and employment aspirations, were considered for the study. This study included around 200 students from different education levels.

Investigating Financial Resource Sufficiency for Entrepreneurial Growth: A Case of SMEs in Pakistan

This research paper delves into the critical nexus between entrepreneurship and finance, focusing on entrepreneurs' challenges and strategies in accessing and utilizing financial resources to increase growth. The study highlights the fundamental role of finance in enabling small entrepreneurial ventures to thrive and contribute to economic development. It then proceeds to identify key challenges, including access to capital, financial literacy gaps, and regulatory barriers that hinder entrepreneurial finance. Through a comprehensive review of existing literature and case studies, the paper explores the various strategies entrepreneurs employ to overcome these challenges, including traditional financing methods, alternative funding sources such as crowdfunding, venture capital, and financial management techniques. Additionally, the research discusses the evolving landscape of fintech solutions and their impact on facilitating access to finance for entrepreneurs. Moreover, it examines the role of government policies and institutional support in fostering an enabling environment for entrepreneurial finance. The results of this study present valuable recommendations for policymakers, financial institutions, and entrepreneurs seeking to understand the complex landscape of entrepreneurial finance and focus on strategies to exploit the full potential of innovative ventures.

Impact of Personal Networks of Ethnic Minority Female Entrepreneurs on Growth Construct: Blend of Egocentric and Narrative Analysis

The paper aims to explore and explain the content and structure of personal networks of immigrant and British-born Pakistani female entrepreneurs for business growth. Pakistani female entrepreneurs represent a distinct segment of ethnic minority entrepreneurs as they represent an interesting blend of socio-economic, religious and socio-cultural traits. This research study underscores the interactional dimension of personal networks and its impact on the growth of their business. It is mainly the contents and interactions within a network that determines the quality of a network and its influence on relevant aspects of network members. In order to explore the meaning and perceptions attached to relationships and their use for entrepreneurial ventures’ growth, an egocentric network analysis is applied to narratives of Pakistani female entrepreneurs (the ego). Narratives were collected through in-depth interviews with ‘name generator’ questions. Egocentric network analysis was carried out using sociograms to explore the formation and nature of network ties. By generating an in depth understanding of the distinctive use of personal networks for growth of business by Pakistani female entrepreneurs the paper provides in depth knowledge and understanding of a particular ethnic minority group that will be of use to business owners (Pakistani female entrepreneurs), academic researchers and policy makers.