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In recent years a new phenomenon emerged in entrepreneurial ecosystems: the pre-acceleration programs. Departing from the literature on accelerator programs, we define, describe, and compare the main features of these earlier-stage programs. We further investigate which characteristics contribute to event success (measured by the number of entrepreneurs), by looking into a case of a pre-acceleration program with worldwide events. We find that offering more workshops and having a diverse group of participants are important factors present in the events with a higher propensity to convert participants into entrepreneurs.
Do Accelerators Help Entrepreneurs Get Higher-Status Investors? Of Entrepreneurial Development Programs and Network Improvement
University of Washington Susan Cohen,
University of Georgia
Research to date has highlighted two-paths by which startup firms obtain high-status early partners that may be especially beneficial: inheritance based on their founders, or accomplishment based on performance and resources. Here we consider a third path, entrepreneurial development programs that function as a combination of educational programs and social foci. We argue such programs may only lead to higher-status early partners if they both offer impactful education and address potential issues of adverse selection and counter-signaling. We test our arguments in the context of accelerators programs such as Techstars and Y Combinator. We do so using two complementary and proprietary datasets, the first capturing the accepted and almost accepted applicants to three well-regarded accelerators and the second detailing accelerator participation throughout the U.S.
Ecosystem Emergence: Getting Aligned to Offer Novel Value Proposition
Indian Institute of Management Bangalore
How an ecosystem supporting a novel value proposition emerges? Through a longitudinal case, with multiple embedded cases, I develop a narrative account of ecosystem emergence. I examine the actions of various actors in changing socio-regulatory environment to understand how independent actors get aligned to offer a novel value proposition through interdependent activities. The increase in volume and variety of entrepreneurial activities in different parts of the ecosystem helps in uncovering technological and market-related uncertainties. The product complexity and demand heterogeneity influence the level of experimentation, while a breakthrough in critical technology and new business models based on digital technologies enable value proposition hitherto not possible. Overall, the episodes of experimentation, growth, consolidation, and support bring alignment of activities necessary for the ecosystem to emerge.
How Does Externality Work? An Empirical Study Based on Reward-based Crowdfunding
Renmin University of China Yan Yan,
Renmin University of China
This paper focuses on the effect of externalities in reward-based crowdfunding on project performance. Based on externality theory, we theorized and tested the impact of existing projects on new projects. We extended the source of externalities to similar projects and considered three variables—the similar projects’ number, average performance, and average effort—by which externalities work. Besides, we explored the time effects. We examined a sample of 20092 technology reward-based crowdfunding projects on Kickstarter from 2009 to 2018. We found that the average performance of similar projects was positively related to project performance, whereas the other two variables were negatively related, and their negative impacts are weakened by time interval. These findings provide a deeper understanding of crowdfunding externality and expand the externality theory.