Startups’ demand for non-financial resources: Descriptive evidence from an international corporate venture capitalist

Riepe, Jan; Uhl, Kristina

doi:10.1016/j.frl.2019.101321

Cited by 12 publications

(14 citation statements)

References 15 publications

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“…Discussions about the role that the PMS plays in organizations with a high degree of innovation (Davila et al, 2009;Chenhall and Moers, 2015;Bedford et al, 2019) suggest that a comprehensive PMS can subsidize managers in decision-making (Chenhall and Morris, 1993;Kaplan and Norton, 1996), with financial, non-financial and other metrics focused on product and process innovation (Nguyen et al, 2017). Such metrics can be crucial in investor decisions whether or not to invest resources in startups (Sievers et al, 2013;Riepe and Uhl, 2020). Evidence also suggests that the PMS can influence the individual creativity of employees (Moulang, 2015), which is indispensable for organizations to promote innovations (Amabile, 1988).…”

Section: Comprehensive Performance Measurement Systems and Individual Creativitymentioning

confidence: 99%

“…This finding reinforces the relevance of the comprehensive PMS, with financial, nonfinancial and other metrics in the context of innovation (Nguyen et al, 2017), to encourage creativity. As for financial information, it is noteworthy that investors are assigning similar weights to non-financial information when evaluating investment in startups (Sievers et al, 2013) and startups, depending on their financial conditions, have strong demands by nonfinancial resources (Riepe and Uhl, 2020).…”

Section: Sufficient Conditions For High Individual Creativitymentioning

confidence: 99%

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Fostering individual creativity in startups: comprehensive performance measurement systems, role clarity and strategic flexibility

Frare

Beuren

2021

EBR

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Purpose The purpose of this study is to investigate the effects of comprehensive performance measurement systems (PMS), role clarity and strategic flexibility on the individual creativity of founders/managers of startups. Design/methodology/approach The research population comprises 611 Brazilian startups in the e-commerce, retail and wholesale segments. One owner/manager of each startup was contacted by the survey, obtaining 91 valid responses. For data analysis, symmetric and asymmetric techniques were applied, respectively: partial least squares-structural equation modeling and fuzzy-set qualitative comparative analysis. Findings The findings show that the comprehensive PMS is an important predictor of individual creativity, role clarity and strategic flexibility. Role clarity has a direct effect on creativity and promotes partial mediation between comprehensive PMS and creativity. Comprehensive PMS and role clarity are of great importance and have high performance in favor of creativity, while strategic flexibility has high performance, but is of low importance. Several causal combinations promote high individual creativity. Practical implications It offers founders/managers an insight into the aspects that are worth of efforts to foster individual creativity in their startup. Originality/value The key contribution of the study is that the comprehensive PMS, which includes financial, non-financial and other measures for product and process innovation, can directly and indirectly (through role clarity) influence individual creativity.

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Section: Comprehensive Performance Measurement Systems and Individual Creativitymentioning

confidence: 99%

Section: Sufficient Conditions For High Individual Creativitymentioning

confidence: 99%

Fostering individual creativity in startups: comprehensive performance measurement systems, role clarity and strategic flexibility

Frare

Beuren

2021

EBR

View full text Add to dashboard Cite

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“…Furthermore, selection of the right corporate firm (Allmendinger and Berger, 2020) whether for financial or non-financial resources (Riepe and Uhl, 2020), requires that EBVs develop insights into the cultural and structural characteristics of large firms in order to “get along” (Das and He, 2006; De Groote and Backmann, 2020). A proactive stance toward the collaboration is important for the small firm as opposed to defaulting to large firm overtures and processes.…”

Section: Theoretical Backgroundmentioning

confidence: 99%

Strategic investments in entrepreneurial brand ventures by large incumbents

Van Rensburg,

Naudé,

Fayena

2023

JSMA

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PurposeConsumer product firms renowned for marketing appear to be complementing brand creation, extension and acquisition with minority equity investments in entrepreneurial brand ventures (EBVs) for strategic purposes. Similarly, EBVs are looking for growth and resources that can be accessed via inter-organizational partnerships. This flourishing industry practice and the paucity of empirical research indicates the potential for new studies. The research objective was to examine why and how large incumbents were implementing strategic brand venturing (SBV), and with this understanding to develop a framework useful for descriptive and normative purposes.Design/methodology/approachThis qualitative research study comprised in-depth interviews and multiple data sources across seven case studies drawn from US subsidiaries of global firms within the consumer products industry. Grounded in resource theory, the dimensions of strategic brand equity investments are abductively derived.FindingsThe findings delineate 16 process capabilities within four aggregate clusters entailing, the designing of the SBV program, opportunity identification, brand entrepreneur partnerships and venture portfolio management. Prefaced by endogenous and exogenous antecedents, these process capabilities help to contribute strategic and financial value when implemented.Research limitations/implicationsThis qualitative research study yielded analytical rather than statistical generalizations. A range of market and economic factors exist in the United States contributing towards a favorable entrepreneurial and brand incubation climate. This may render the SBV concept as contingent and contextual. Furthermore, the view of brand entrepreneurs' regarding the design of the process model were not explicitly sought but inferred from the discourses of the venturing units interviewed.Practical implicationsThe article outlines several important implementation imperatives for corporations endeavoring to competitively advantage their brand portfolios via adoption of a minority equity investing strategy in EBVs. Practitioners are cautioned against myopically adopting this process alone as a success heuristic given other factors may impact success such as changes in corporate strategy or upper echelon sponsorship.Social implicationsMission preservation for social brand ventures being tethered to a large incumbent may need to be taken into account prior to and during SBV relationships.Originality/valueThe research contributes to the call for greater insights into the investment processes used in venturing relationships as well as coverage of new industry sectors beyond technology industries that often characterize corporate venture capital studies. Several novel findings emerged related to the importance of—the industry ecosystem; symbiosis between the founding brand entrepreneur and brand culture; synchronization of investment strategies with an emerging brand life-cycle model and serendipitous corporate entrepreneurial opportunities.

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“…In addition to talented leaders (managers), start-ups must also employ qualified operational staff on whom the quality of execution of innovative products and/or provision of such services depends [46,47]. Given the industries in which start-ups develop, these must be employees with knowledge of modern technologies, especially IT and ICT [48]. Recruiting them and getting them to work in a high-risk environment is not an easy task.…”

Section: Determinants Of Existence and Development Of Start-upsmentioning

confidence: 99%

The Influence of Local Economic Conditions on Start-Ups and Local Open Innovation System

Jonek-Kowalska

Wolniak

2021

Journal of Open Innovation: Technology, Market, and Complexity

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The development of start-ups is a driving force of the local and regional economy. Therefore, it should be in the interest of municipal authorities to take actions for their organizational and resource support. In the conditions of limited public resources, however, it is a difficult and multifaceted task. Therefore, in this article, the authors attempt to determine the influence of local conditions on the establishment of start-ups. As a natural environment for the development of this type of entrepreneurship, cities were considered in which accessibility to infrastructure and human resources is high, and thus, by definition, conducive to creativity and innovation. Such a formulations of the objective and scope of the research allowed the existing theoretical and research gaps to be filled, relating to the identification and establishment of a hierarchy of local determinants of creating start-ups in the urban environment. The research in question was carried out on a representative sample of 287 Polish cities using questionnaire techniques and structural modelling. The results confirm the dominant influence of human and financial capital on the establishment of start-ups. The research also shows a slightly less significant influence of business incubators and technology parks on the creation of start-ups, which implies the need to improve the performance of these entities. The results also point to the positive role of direct city involvement in the development of this form of entrepreneurship.

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Startups’ demand for non-financial resources: Descriptive evidence from an international corporate venture capitalist

Cited by 12 publications

References 15 publications

Fostering individual creativity in startups: comprehensive performance measurement systems, role clarity and strategic flexibility

Fostering individual creativity in startups: comprehensive performance measurement systems, role clarity and strategic flexibility

Strategic investments in entrepreneurial brand ventures by large incumbents

The Influence of Local Economic Conditions on Start-Ups and Local Open Innovation System

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