This is an investigation into the impact of financial literacy on new venture survival. A model is proposed in which increased adoption of financial tools (e.g. financial statements and financial ratios) leads to increased frequency of financial statement generation which in turn increases the likelihood of loan repayment and decreases the probability of venture failure. A structural model was then tested using data from 509 young entrepreneurs in Canada who had received start up loans through their participation in a program by the Canadian Youth Business Foundation. This research found that increases in financial literacy led to more frequent production of financial statements. This research found that entrepreneurs who produced financial statements more frequently had a higher probability of loan repayment and a lower probability to close their venture involuntarily.

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Purpose -On the basis of the Collective Intelligence Genome framework, which was developed to describe private, for profit ventures, this study aims to review the recent public sector initiatives launched by the American federal government and the European Union. The study's goal is to examine if, and how, the Genome construct would apply to not for profit. Design/methodology/approach -This paper builds on an existing classification methodology for collective intelligence initiatives and extends it to pubic sector initiatives. Findings -The findings suggest that, although the framework offers a generally good fit, it does not fully address all the factors at play and the paper proposes expanding the gene pool. In addition, it confirms that Collective Intelligence initiatives do indeed co-create value and conform to the emerging services dominant logic concept. Originality/value -With the growing success of profit motivated internet-based collaborative ventures, including Innocentive, VenCorps, Threadless and many others, governments have taken notice and engaged. Recent public sector initiatives, including Open.gov, Peer 2 Patent, innovation.ED.gov among others, have begun to leverage collaborative internet media through similar means. These initiatives not only engage a broader community in the co-creation of value, but also foster what has been termed as Collective Intelligence. This paper details one of the first forays into what might be termed sense making within the public sector usage of Collective Intelligence using the Genome framework and, as such, provides researchers and practitioners with a means of assessing value, potential impact and making comparisons.