Entrepreneurship Research Articles

Impact of entrepreneurs' prior experience on their new ventures' early-stage performance: the mediation effect of entrepreneurial mindset level

IntroductionDoes an entrepreneur's prior experience affect the early-stage performance of new ventures? This study further explores the mediating effect of the entrepreneurial mindset, indicated by the quality of business plans, between entrepreneurs' prior experience and the early-stage performance of their new ventures.MethodsThe sample consists of 157 valid formal business plan documents from the “2021 Gusu Science and Technology Angel Program.” The study employs an evaluation system developed to measure the quality of these business plans and assess the entrepreneurial mindset levels.ResultsThe results reveal the mechanism through which prior experience influences early-stage performance. It indicates that entrepreneurs aiming for high long-term new venture performance should focus on learning and acquiring diverse experiences.DiscussionThe opportunity to write and evaluate their business plans can serve as a self-assessment tool for their entrepreneurial mindset using the evaluation system developed in this study. This approach can significantly enhance their performance and contribute to entrepreneurial success. Moreover, by employing this evaluation system, educators and educational institutions can better understand the entrepreneurial mindset levels of trainees (entrepreneurs) and tailor their courses more effectively.

Orchestrating Resources in Green Startups: Learning from Case Studies

This study examines the characteristics of green startups and the progression of their resource utilization patterns during the pandemic emergency, focusing on case studies from the Startup Incubation and Innovation Centre (SIIC) of the Kanpur Indian Institute of Technology (IITK). This study explores how these startups overcame lockdown challenges and identified the resources they utilized throughout various development stages. The findings reveal that the green startups in the sample share characteristics of visionary and inventive startups, often lacking formal business education but possessing strong technical skills and social engagement. They rely heavily on human and social resources in the early stages, leveraging their networks and stakeholder support to define and develop their green innovations. The research also highlights the importance of open innovation strategies, particularly in the product development stage, where startups leverage research labs and expertise within the IITK ecosystem. This study increases the literature on green startups and offers practical recommendations for young green entrepreneurs, emphasizing the importance of operating in familiar industries, building stakeholder networks, and utilizing open innovation strategies for successful green innovation development.

Broadening the entrepreneurial mindset to meet sustainable goals – Introducing the 4-foci mindset

In the field of entrepreneurship education, the subject matter has changed from a focus on venture creation to one that encourages the development of broader skills and attitudes that prompt students to live in an entrepreneurial way. The emphasis on an ‘entrepreneurial mindset’ (EM) is increasing. However, global issues, such as climate change and the mental health crisis, require a transformation in the way we think and act. Our external environment is increasingly seen as a manifestation of deeply held beliefs, values, attitudes, and perceptions of the world—the inner dimensions of sustainability. Thus, we must reflect on individual values, increase inner capacities, and achieve sustainable life skills prior to creating more sustainable ventures and futures-an overlooked perspective in the current definition of EM. This paper introduces a design perspective and the 4-Foci Mindset, which includes both an outer focus aimed at sustainable value creation and connections with others and with nature, as well as an inward orientation that achieves inner capacities related to ‘being’. The paper presents the implementation and evaluation of the 4-Foci Mindset framework in an educational setting, concentrating on the inner focus as the most radical new perspective in education. The results reveal the clear necessity and value of addressing ‘the inner focus’.

Governance and Leadership in Advancing Entrepreneurial Universities: Exploring Awareness and Change Dynamics in South Africa

This research explores the role of awareness, as framed by the ADKAR (Awareness, Desire, Knowledge, Ability, and Reinforcement) change management model, in driving the transformation of South African higher education institutions (HEIs) into Entrepreneurial Universities (EnU). The study focuses on the critical question of whether raising awareness of entrepreneurship among academics can catalyse transformative changes within universities, fostering an entrepreneurial mindset and practices across the institution. In the context of South Africa’s socio-economic challenges, such as high unemployment and inequality, entrepreneurial universities are seen as key drivers of innovation and economic development. The research findings underscore that awareness, the foundational step of the ADKAR model, is essential for initiating the entrepreneurial shift within HEIs. Academics who are aware of the importance of entrepreneurship are more likely to engage in activities that promote innovation, student entrepreneurship, and industry collaboration. However, the study also highlights that awareness alone is insufficient for a full institutional transformation. Leadership commitment and active involvement are critical in moving beyond awareness to implement sustainable entrepreneurial initiatives. Without strong leadership that aligns institutional governance structures and policies with entrepreneurial objectives, the entrepreneurial agenda may struggle to gain traction. The research concludes that while raising awareness among academics is a necessary first step, leadership at universities must also be equipped with the skills and understanding to champion entrepreneurship at an institutional level. Comprehensive leadership training, continuous evaluation of entrepreneurial initiatives, and fostering cross-departmental and external collaborations are essential for sustaining momentum towards the full realisation of Entrepreneurial Universities in South Africa. This study contributes to the broader discourse on entrepreneurship in higher education by providing insights into the specific challenges and opportunities facing South African universities as they navigate the path towards becoming entrepreneurial institutions.

InnovatEd

The Melbourne InnovatEd program at the University of Melbourne supports innovation in educational technology, addressing the crucial need for innovative solutions in teaching and learning in higher education. By fostering a holistic approach, InnovatEd empowers educators and students to identify problems and devise impactful solutions. Established in 2019, the program offers a Bootcamp and an Incubation Funding Program, providing space, tools, support, and funding pathways. The Bootcamp engages participants in developing innovation skills, while the Incubation Program offers tailored support to bring ideas to fruition. Over five years, InnovatEd has supported 23 teams, enhancing teaching and learning through EdTech. The program has successfully cultivated connections within the University and industry, facilitating real-world project development and fostering an entrepreneurial mindset. Innovation programs in large organisations, such as InnovatEd, face challenges such as ensuring technology sustainability, providing post-program support, and addressing cultural barriers. InnovatEd aims to establish robust support structures and promote continuous innovation, essential for improving education in the age of AI.

Cultivating Entrepreneurial Mindset in African Educational Leaders: Strategies for Fostering Innovation and Adaptability

This work looked at cultivating entrepreneurial mindset in African educational leaders: strategies for fostering innovation and adaptability. The objectives of the study were to: determine effective methods for building entrepreneurial mindset; analyze the relationship between entrepreneurial mindset among educational leaders and students’ performance; and identify the main obstacles African educational leaders confront in promoting entrepreneurial mindset. The survey design approach was used. Data were gathered through primary and secondary sources. The study used Nigeria as a case study. The population of the study was 1705 while 324 was derived as sample size using Taro Yamane formula. Stratified sampling technique was used in selecting the 324 sample from the six geo political zones in Nigeria. Questionnaires, designed according to the 5-point Likert scale, were administered to the 324 persons. Data was presented and analyzed in tables. In testing the hypotheses, ANOVA was used for hypotheses one and three while Pearson Correlation Coefficient was used for hypothesis two. Findings revealed that: Experiential learning, innovation and creativity workshops are effective methods for building entrepreneurial mindsets among individuals; there is a significant relationship between entrepreneurial mindset among educational leaders and students’ performance, and limited institutional support and inadequate funding impact negatively on educational leaders’ ability in promoting entrepreneurial mindset. From the findings, it was recommended among others that educational stakeholders should invest in workshops for innovation, experience learning, and creativity while government at all levels should encourage educational leaders with all necessary tools to succeed in building entrepreneurial mindset.

Assessment of the entrepreneurial intention of university students using rasch methodology

Entrepreneurial intention is guided by actions and intrinsic skills, namely, understanding entrepreneurial characteristics and becoming capable of devising, articulating, and sustaining innovative ideas. Thus, conceptions are generally linked to innovation, with active methodologies such as workshops, journeys, courses, and lectures playing a vital role. Therefore, it is essential to promote entrepreneurial intention in the academic environment, specifically in agricultural science courses. In light of this demand, this study aimed to assess the entrepreneurial intention of university students participating in the Sustainable Agro Entrepreneurship Program (AGROS), using the Rasch methodology. The program was developed to spread entrepreneurship among students of the Center for Applied Agricultural Sciences (CCAA) at the Federal University of Sergipe (UFS), through four systematically and interactively planned workshops. The study investigated the validity of evidence related to the internal structure of the Global University Entrepreneurial Spirit Students' Survey (GUESSS) and the evolution of the students’ entrepreneurial intention. Fifty-seven (57) students participating in the Program were evaluated based on responses to items in the GUESSS inventory, at two points: Pretest (T0) and Follow-up (T1). The results indicated that the program had a positive impact on stimulating entrepreneurial intention in agricultural sciences, particularly regarding the creation of new businesses in the field. Furthermore, the research identified the main factors contributing to the program’s success, such as the integration of workshops and lectures, the presence of highly qualified professionals, and the use of active methodologies.

PILIHAN KARIR BERDASARKAN MODEL SCHWARTZ DAN SCHEIN PADA WIRAUSAHA MUDA DI KOTA BANJARMASIN (TINJAUAN DESKRIPTIF)

Nowadays career choices are dynamic and changeable, along with the advancement of technology. Business can be done virtually so that it is more attractive to young people. However, Values play an important role in career choice and lifelong career management. Values are the desired goals that individuals seek to fulfill their needs and are important for understanding career orientation in terms of protean and boundaryless career orientations and career anchors. However, how career orientations or career anchors fit into established and supported models and into the structure of human basic values remains an important and under-explored question. The purpose of this study is to use Schwartz's structural values model to empirically explore the relationships and structural correspondences between basic values, career orientations, and career anchor models.Schwartz's value structure. Protean and boundaryless career orientations are positively related to Schwartz's basic values that emphasize openness to change and career anchors meaningfully follow the motivational sequence of these basic values.Overall, the overlap between core values, career orientations, and career anchors emerged as relatively significant, suggesting that core values, orientations, and career anchors should be considered simultaneously to understand and address the factors and processes underlying young entrepreneurs' career choices and paths.

An emotional learning process? The role of socially induced and regulated emotions for the development of an entrepreneurial mindset

PurposeAlthough emotional dynamics (EDs) during the entrepreneurial learning (EL) process are acknowledged to promote the growth of an entrepreneurial mindset (EM), while having social causes, empirical research on learning mainly looks at emotions as socially isolated concepts. This study aims to investigate how socially induced and regulated emotions during the EL process affect EM development.Design/methodology/approachWe applied a qualitative, inductive approach related to interpretative phenomenological analysis to get deeply involved into individuals’ experienced emotions. We conducted semi-structured interviews with participants of two EL programs. Open-ended questions stimulated free narratives and detailed descriptions of experiences that were analyzed following a five-stage process.FindingsThere is a correlation between socially induced and regulated emotions and the development of EM elements. We suggest a framework for the EL process based on EDs, which triggers four main mechanisms that help individuals develop an EM: “re-assessment of individual emotions through EDs”, “EDs affected by facilitator intervention,” “sharing and co-creation of emotions,” and “sensemaking of experiences and emotions.”Originality/valueThis study adds to the knowledge on EDs during the EL process and contributes to the literature on EL and emotions in learning. Therewith, it helps to sensitize practitioners toward the complexity of emotions in the entrepreneurial process, allows to moderate individual emotional reactions and social Eds, and improves existing EE programs. Future research could investigate the interplay of specific personality traits, learning environments, and socioemotional team dynamics in EL.

How Does Perceived University Support Boost Students’ Entrepreneurial Intentions?

AbstractThis investigation aims to study the influence of psychological characteristics, entrepreneurial education, and students’ perceptions of institutional support provided by higher education institutions (HEIs) on entrepreneurial intention. For the development of this research, a questionnaire was applied to students in the areas of economic and business sciences, who were attending the final year of their Bachelor’s and Master’s degrees. The data was collected from three HEIs in the North of Portugal, and partial least squares structural equation modeling (PLS-SEM) was used to test the proposed model. By addressing the combined effects of perceived institutional support and entrepreneurial education on entrepreneurial self-efficacy and intentions, this research offers both theoretical and practical contributions. Theoretically, this study extends the application of the theory of planned behavior (TPB) by integrating the concepts of entrepreneurial self-efficacy and entrepreneurial mindset. The research highlights the positive impact of perceived HEI support and entrepreneurial education on students’ entrepreneurial self-efficacy, which, in turn, influences their adherence to planned behavior and the development of an entrepreneurial mindset. This nuanced understanding advances the discourse on how educational environments can shape entrepreneurial intentions. Practically, the findings provide actionable insights for HEIs, enabling them to evaluate and enhance their support mechanisms and educational programs to more effectively cultivate entrepreneurial intentions among students. This research is, therefore, original in its approach, addressing a critical gap in the literature by empirically examining the combined effects of psychological characteristics, entrepreneurial education, and perceived HEI support on entrepreneurial intention. Through this investigation, we contribute to a more comprehensive understanding of the factors that drive entrepreneurial intention, thus offering a foundation for universities to optimize their strategies in support of student entrepreneurship.

Financial performance persistence in serial entrepreneurship

Financial performance persistence in serial entrepreneurship

Evaluating the impact of experiential learning on entrepreneurial intentions among university students in emerging markets

This study aims to have an insight into the experiential learning impact on entrepreneurial intentions among university students in emerging markets. Obafemi Awolowo University, Ile-Ife, is chosen to be the focus of this study. The intention is to find out how programs of internships, Students Industrial Work Experience Scheme (SIWES), trade fairs, entrepreneurial summit, and competitions create an impact among students with high propensities toward entrepreneurship. This study has used a descriptive, correlative, and regression analysis approach to assess the relationship of these experiential learning activities with entrepreneurial intentions using a questionnaire with a sample size of 230 students, both undergraduate and postgraduate. The findings indicated that internship and SIWES are more robust drivers of building entrepreneurial intention when compared to the trade fair. These findings show that structured and immersive learning is crucial in the instillation of an entrepreneurial mindset. The study concludes by making recommendations to universities and policymakers on how to develop experiential learning programs so as to better equip the student for entrepreneurial ventures. Keywords: Experiential Learning, Entrepreneurial Intentions, University Students, Internships, Emerging Markets.

Revisiting the linkage between entrepreneurial intention and behavior in a mediated model: Evidence from Vietnamese logistics industry students

Young entrepreneurs are crucial participants in a country’s entrepreneurial ecosystem. This study analyzes the effects of entrepreneurial motivation and perceived university support on the entrepreneurial intention and behavior of Vietnamese students. A survey was conducted with 831 students who are studying logistics and supply chain management programs. Smart PLS and the Sobel test were utilized to validate the proposed hypotheses. The results indicate that financial motivation has a positive impact on student’s entrepreneurial intention and entrepreneurial behavior. Conversely, the desire for autonomy motivation has a direct negative impact on entrepreneurial behavior. Furthermore, perceived university support exerts a strong direct influence on student’s entrepreneurial intention and entrepreneurial behavior. Notably, entrepreneurial intention partially mediates the relationship between entrepreneurial motivation and entrepreneurial behavior and the relationship between perceived university support and entrepreneurial behavior. The research implications suggest that policymakers should prioritize assessing students’ entrepreneurial motivations before implementing entrepreneurship training programs. Additionally, universities should provide appropriate entrepreneurial support to students throughout their entrepreneurial behavior and their entrepreneurial careers. AcknowledgmentThis research is funded by the International School, Vietnam National University, Hanoi (VNU-IS) under project number CS.2023-12.

The Influence of Prior Experience on Innovativeness and Development Decisions of Serial Entrepreneurs

The Influence of Prior Experience on Innovativeness and Development Decisions of Serial Entrepreneurs

Development of financial literacy and fintech adoption on women SMEs business performance in Indonesia

Women-owned small businesses are crucial to the Indonesian economy. Despite this contribution, women entrepreneurs face many challenges when building their businesses, especially getting business loans. Women entrepreneurs adopt less technology and have less financial expertise than men. This study aims to determine financial literacy factors affecting women SMEs' business success and the extent of financial technology (FinTech) use as an alternative funding source to formal financial institutions. The study examines FinTech adoption using the Unified Theory of Acceptance and Use of Technology (UTAUT Theory). This study also examines how FinTech adoption mediates the indirect effect of financial literacy on SME business performance. The study uses a quantitative research approach using a judgmental sample of 270 women entrepreneurs who have previously used FinTech. The data is analyzed with SEM-PLS. According to the study, effort expectancy, performance expectancy, and social influence all have a beneficial impact on FinTech adoption among women-owned small businesses. The survey found that FinTech adoption was a key factor influencing women SMEs' business performance. The findings also indicate that financial literacy has a beneficial effect on business success. The study reveals FinTech adoption as a mediating factor in the association between financial literacy and SMEs business success. As a result, our findings contribute to a better understanding of how digital technology adoption affects SMEs' performance and long-term sustainability. The findings offer insights for entrepreneurs, policymakers, and company owners looking to enhance the survival rate of SMEs by improving operations and harnessing digital technology to promote capital accessibility, FinTech adoption, and financial literacy.

PENINGKATAN KEMAMPUAN BERBISNIS DIGITAL BAGI SISWA SMA/MA DI KOTA TASIKMLAYA

Current technological advances cannot be separated from people's lives. Current developments in technology and science also encourage the field of management science to continue to make improvements in terms of productivity, creativity and effectiveness. Digital transformation has changed the business world so much that something called digital business has emerged. Digital business is a type of service business that utilizes sophisticated technology when creating a product or marketing it. The aim to be achieved in this service is to increase SMA/MA students' insight into digital business and make it easier for them to carry out low-fund based businesses that are effective and efficient in accordance with the needs of teenagers and even adults who want to start a business. The methods used in this service activity are socialization/counseling, training, discussions, simulations and application of digital business. With this service activity, the expected result is that SMA/MA students will have an understanding of the importance of entrepreneurship by utilizing technology so that interest in digital entrepreneurship among Madrasah Aliyah students in Tasikmalaya City will increase. This service activity contributes to schools or madrasas in equipping their graduates to have digital business skills so they can produce young digital entrepreneurs.

Impact of Entrepreneurial Mindset and Alertness on Converting Education into Entrepreneurial Intentions: A Study of Pakistani University Students

Entrepreneurial education is an established phenomenon that enhances entrepreneurship, which is critical for economic sustainability. The study investigated converting entrepreneurial education into entrepreneurial intentions in graduating university students. It was expected that entrepreneurial mindset and entrepreneurial alertness play a significant role in this process. A questionnaire was developed, and data was collected from students either graduating or in their last year of undergraduate studies. Regression analysis using AMOS was conducted to test the relationships among study variables. Results indicate that entrepreneurial mindset and entrepreneurial alertness have mediating roles in the process separately. Entrepreneurial alertness is the most significant mediator in converting the effect of entrepreneurship education into entrepreneurial intentions. Entrepreneurial mindset also partially mediates the effect of entrepreneurship education on entrepreneurial intentions. The findings of this study are essential for educational planners and organizations in the entrepreneurial ecosystem to evaluate the effectiveness of entrepreneurial education in training programs. Future studies may consider replicating this study in different physical and cultural settings.

Development Of Student Entrepreneurship Skills Through The Independent Entrepreneurship Program At Gadjah Mada University 2023

Entrepreneurship plays an important role in driving economic growth and creating new jobs. Therefore, the development of entrepreneurial skills among students is very important. This study aims to analyze the development of student entrepreneurship skills through the Wirausaha Merdeka program at Universitas Gadjah Mada (UGM) in 2023. The Wirausaha Merdeka program is a national program that aims to create resilient and financially independent young entrepreneurs. This research uses a qualitative approach method. Data were collected through observation and in-depth interviews with students participating in the Wirausaha Merdeka program at UGM. The results showed that this program has successfully developed various entrepreneurial skills of students, such as managerial, marketing, financial, leadership, and communication skills. Through a series of training, mentoring, and hands-on practice in building a business, students can apply the knowledge gained in real terms. The positive impact of this program can be seen from the increase in students' interest and motivation for entrepreneurship, as well as the emergence of new innovative business ideas. However, there are also challenges such as lack of initial capital and difficulties in reaching a wider market. This research contributes to providing insight into the role of the Wirausaha Merdeka program in developing students' entrepreneurial skills and provides recommendations for future program improvements.

Ghaslah: Car wash application

It is known in Oman and many countries that technological devices and artificial intelligence have become a part of daily life. People use them to complete daily tasks and communicate among themselves, as well as facilitating some tasks that require time and effort. Therefore, there are many phone applications that have been developed to serve people, and they were created and developed by Omanis. These applications facilitate the promotion of the tourism, economic, and commercial sectors. Some of them support tourism by showing tourist places and introducing them to tourists, and some show important events in the Sultanate. Which tourists love to go to and supports the economy through the financial returns that result from this trade through these applications. In this project, we proposed creating a mobile application titled Ghaslah. It is an application concerned with car washes. It supports the customer and the owners of car wash companies. It enables the customer to choose the appropriate car wash company and choose the best services that the customer needs. It also supports segments of society, including women, the elderly, and people with special needs in particular. It supports car wash companies by displaying the services provided by the companies at the lowest costs in terms of advertising and other things, enabling companies to provide their services such as reservations and home services. This application will enhance the economic aspect in Oman and the owners of car wash companies and satisfy the customers with services that suit their needs.

How Entrepreneurial Mindset, Gender Stereotypes, and Innovation Practices Influence the Sustainability of Women-Owned Businesses in Bogor City, Indonesia

This study investigates the influence of entrepreneurial mindset, gender stereotypes, and innovation practices on the sustainability of women-owned businesses in Bogor City, Indonesia. Using a sample of 200 women entrepreneurs, data was collected through structured questionnaires and analyzed using multiple regression analysis. The results indicate that entrepreneurial mindset and innovation practices positively impact business sustainability, while gender stereotypes have a negative effect. The findings emphasize the critical role of fostering a strong entrepreneurial mindset and encouraging innovation among women entrepreneurs, while also addressing the detrimental impact of gender stereotypes on business operations. The study contributes to the growing body of literature on women’s entrepreneurship and offers practical insights for policymakers and support organizations in creating a conducive environment for the sustainability of women-owned businesses