Search

This paper merges the literature on green and high-quality entrepreneurship by introducing environmental orientation as an unrecognised characteristic of start-up quality and the three quality dimensions innovativeness, growth orientation, and international orientation. Entrepreneurship literature argues that only high-quality start-ups contribute to sustainable development and that a better understanding of what determines the quality of start-ups is required. Empirical research has recently shown that the environmental orientation of start-ups is one such determinant, as it significantly predicts their innovativeness. This paper pursues this novel research avenue on the importance of environmental orientation for start-up quality in two ways. First, this paper evaluates and extends this initial evidence on environmental orientation and innovativeness by examining a three times larger sample, covering additional countries and entrepreneurial stages. Second, this paper also analyses the impact of environmental orientation on the quality dimensions of growth orientation and international orientation. Investigation using Global Entrepreneurship Monitor data on 9650 entrepreneurs from 51 countries revealed that start-ups with a higher environmental orientation are of superior quality regarding their innovativeness, growth expectations, and exports. These results remain robust for start-ups at different entrepreneurial stages, and tests employing different methodological approaches and variable definitions. However, the categorisation into factor-driven, efficiency-driven, and innovation-driven countries showed that greener start-ups are more innovative in countries at all three levels of development, while the relationships with growth orientation and international orientation remained significant for only two of the three categories. The findings of this paper provide a new approach for practitioners to identify the small number of high-quality start-ups and an economic reason warranting intensified efforts to support green start-ups. [ABSTRACT FROM AUTHOR]

The characterization of how entrepreneurial a region or country is, has generally been shaped by a narrow view of what actually constitutes entrepreneurship. In the case of Germany, this has led to a characterization of Germany as not being particularly entrepreneurial. Such a view is at odds with the remarkable, high-performing family business, widely held to be the backbone of the economy. The purpose of this paper is to suggest that the interpretation prevalent in entrepreneurship literature is problematic due to a too narrow operationalization of the entrepreneurship concept. As Zahra (2007; 2014) emphasized, context matters for entrepreneurship, especially on a local or spatial level. One particular organizational manifestation of entrepreneurship, family business, may be congruent in specific spatial and institutional contexts but not in others. Other geographic and institutional contexts may be congruent with the contrasting startups. Thus, an important and novel contribution of this paper is to analyze the geography of family business as distinct from startups: two ends of the entrepreneurship continuum, embedded in different kinds of entrepreneurial ecosystems. We generate innovative maps working with official data, showing the distinct distribution of both kinds of entrepreneurship in different ecosystems. These findings are connected with spatial effects, living conditions and lead to recommendations for policy measures. The paper focuses on Germany, because startups as well as family business are prevalent and can be found in all regions. [ABSTRACT FROM AUTHOR]

This research paper aims to investigate the impediments faced by innovation-driven enterprises in Thailand and to explore the current measures, policies, and mechanisms related to innovation-driven enterprises (IDEs)' development both domestically and internationally. The study encompasses a comprehensive approach, including an analysis of an innovation entrepreneur database comprising 320 investors and 883 IDEs. Moreover, semi-structure in-depth interviews were conducted with three investors, twenty-two IDEs' founders, eight executives, and experts from various sectors, including government, university incubators, and the private sector in Thailand. Through this multifaceted investigation, this paper sheds light on the key factors that hinder the success of IDEs in Thailand, which primarily revolve around the quality of entrepreneurs (Team), Product and Market Fit, and Support. These factors collectively impact the depth of knowledge, business incubation, acceleration programs, and the effectiveness of laws, measures, and policies in supporting innovation capability development within IDEs. In addition, this paper presents a framework for Thailand's IDEs hub, facilitating the connection between the university's innovation and entrepreneurship ecosystem with public and private stakeholders. This framework serves as a mechanism to address the identified hindrances and foster a conducive environment for IDEs development. To address the obstacles, this paper proposes three crucial strategies, namely, (1) talent management, (2) ease of doing scaleup, and (3) availability of funding. These strategies are envisioned to counteract the identified challenges and can be effectively implemented through an operating model and practical working procedures tailored to suit the specific context of Thailand. [ABSTRACT FROM AUTHOR]

While previous entrepreneurship research has only seldom drawn on organizational ambidexterity, the analysis of the important contemporary tensions among entrepreneurship, innovation management and strategic management issues may be facilitated by more closely analysing organizational ambidexterity in entrepreneurial settings. In this paper, we follow this thinking and more closely analyse an often applied form of corporate entrepreneurship: automation. Such automation is transferring work that was formerly conducted by humans to machines and may thus result in new tensions between corporate entrepreneurship, innovation management and the management of organizational stakeholders such as employees. The present paper investigates whether increased automation lowers the stability of firms' relationships with their employees. In addition, we expect that this relationship is moderated by organizational ambidexterity, as employees may have perceived ambidexterity as a signal that their firm will not overly invest in exploitation only, but maintain a balance between exploitation and exploration. Drawing on stakeholder theory, previous insights into corporate entrepreneurship and a survey of German Mittelstand firms, our findings show that highly ambidextrous firms are indeed more vulnerable to automation, leading to lower employee relational stability. Our findings thus suggest that in highly ambidextrous firms, novel tensions around automation-related corporate entrepreneurship will be detrimental to the stability of the firm's relations with one of its key stakeholder groups: employees. [ABSTRACT FROM AUTHOR]

In this paper, we expand our understanding of how a design approach can enable and guide employees to break free from their incumbent mindset and ways of working and become intrapreneurs in public organisations. While previous studies have identified desired behaviour for intrapreneurs, there is a lack of understanding how new intrapreneurs adapt such behaviours, especially in public organisations. This paper shows how the readily available approaches of design practice can guide new intrapreneurs to break free from their routines, adopt entrepreneurial behaviours and provide the practical tools to help them to persuade others to collaborate with them on their innovative ideas. We draw from 19 interviews with nascent intrapreneurs, and documentation collected at the UN Refugee Agency to inductively develop a model for how design supports employees in their journey to become an intrapreneur. Our findings illustrate how adopting a design approach provided aspiring intrapreneurs to become ambidextrous in navigating between the creative and the calculative logics and heuristics in highly structured organisations. Both the design attitude and the tools associated with design practice helped new intrapreneurs to adopt an entrepreneurial mindset, position their new ideas and align them to the needs, priorities and constraints of colleagues and stakeholders. [ABSTRACT FROM AUTHOR]

Envy and jealousy arising out of human emotions have received limited attention in the entrepreneurship literature. This paper explored the nature and existence of envy and jealousy, as well as their causes, effects and management in entrepreneurship. A qualitative case study design and convenience sampling were used to select four CEOs of entrepreneurial firms in Ghana. Interviews were conducted to understand the phenomenon from the respondents' viewpoints. Thematic analysis was done to guide the Ghanaian narrative of envy and jealousy and their nexus with firms' success or otherwise. The paper found that envy and jealousy are different phenomena that exist in entrepreneurial activities, their nature is suggestive and manifest changes in demeanour where a normal characteristic of frowning deepens into a scowl, gossip, apathy and "eye service". Envy and jealousy were caused by perceived favoritism arising out of lack of transparency, selfishness, greed and nepotism. Envy and jealousy lead to increased labour turnover, loss of revenue and sometimes sabotage but positively make the envied person resilient and hardworking. It, therefore, requires skillful strategies to attenuate the negative effects of envy and jealousy through education, transparent communication, discipline, friendliness and firm and fair management strategies. This paper provides better insights to help keep businesses alive by way of awareness creation to encourage entrepreneurs to consider envy and jealousy as possible factors that can destroy companies. To the best of our knowledge, this paper is the first to provide insight into the phenomenon of envy and jealousy in the field of entrepreneurship using Ghanaian narratives. [ABSTRACT FROM AUTHOR]

Around the world today, universities are expected to play a unique role as creators of regional growth and innovation. While there appears to be a consensus that the role of universities has been expanded, critiques show that the contribution of universities to their regions is still not well defined. There have been some developments in the literature on the concept of modern universities such as the triple helix, entrepreneurial university and engaged university. However, those concepts focus on enforcing universities' roles in a single domain such as entrepreneurship, innovation, or civic engagement. Little is known about how universities can facilitate regional growth that goes beyond knowledge transfer activities such as spin-off creation, licensing, and patenting. This paper contributes to a more comprehensive understanding of universities' role in regional growth through the theoretical lens of ambidexterity. Using ambidexterity, universities with a regional focus were distinguished from those engaged in research commercialization and traditional third-mission roles. Through two case studies, this study found that teaching, research, and engagement should not be separated, since they can serve both economic and social missions. As a result, a new model of multidextrous universities is proposed where universities meet both economic and social missions through teaching, research, and engagement. Contrary to previous contributions which presented universities as ambidextrous organizations where tension appears only between research commercialization and research publication or between teaching and research, this study suggests that universities need to overcome tensions and incorporate a sense of place in all activities to successfully contribute to regional growth. [ABSTRACT FROM AUTHOR]

Recently, there has been a greater focus on the relationship between entrepreneurship and the digital economy in academia and practice. However, no known work systematically reviews and analyses such a connection, which highlights the need to address this gap by conducting a thorough systematic literature review employing bibliometric and scientometric analyses concerning entrepreneurship and digital economy research. In doing so, analysis of key trends as well as knowledge structure (i.e., intellectual and conceptual) has been employed to analyze, visualize, and map 275 documents gathered from Web of Science (WoS) and Scopus data sets. The number of publications in the current research field has expanded dramatically due to the substantial efforts by major contributors (e.g., researchers, institutions, nations, and academic journals) worldwide. Key research themes, trends, approaches, and outlines were also emphasized by mapping the intellectual, social, and conceptual structures of entrepreneurship and digital economy-related research. The implications, limitations, and agenda for future research were all outlined. [ABSTRACT FROM AUTHOR]

Sustainable entrepreneurship links entrepreneurial activities to the achievement of sustainable development in its three dimensions: economic prosperity, social equity, and environmental protection. This paper aims to explain the process of sustainable entrepreneurship, by providing empirical evidence on the interconnections between entrepreneurial activity, economic development measured by the human development index, and greenhouse gas emissions as a proxy for environmental quality. The interrelationship between these core variables is described by a cyclical process with feedback effects that makes the system self-sustaining. A simultaneous equation system is estimated based on the 3sls approach that takes into control the endogeneity of regressors and the error correlation across equations. The empirical findings support the cyclical process involving entrepreneurial activity, human development level, and environmental quality. From a policy perspective, results highlight the central role of entrepreneurship as a driving force for change and sustainable development. Decision makers should engage in supporting innovative and sustainable entrepreneurial activities, but also reducing the barriers in the macroeconomic environment and improving human capital skills, including entrepreneurial competencies. [ABSTRACT FROM AUTHOR]

Though academic entrepreneurship has long been associated with technology transfer and more broadly with the passage of the Bayh–Dole Act in 1980, we have little understanding of its emergence as a research field. This paper therefore investigates development of the concept of academic entrepreneurship by studying the use of related keywords in the titles of papers published in the Journal of Technology Transfer (JTT) beginning with volume 1 in 1977. We conclude from our empirical findings that the role of universities in technology transfer has been consistently emphasized in the titles of papers published in the JTT over time, with entrepreneurship emerging more recently as a crucial area of scholarly focus. [ABSTRACT FROM AUTHOR]

As the largest and fastest-growing transition economy in the world, China has seen both the growth of entrepreneurship and increasing scholarly endeavors in this area. To gain an in-depth insight into the evolutionary themes of entrepreneurship research in China, the present study applied a combination of co-word and critical event analysis to examine the co-evolution path of entrepreneurial activity and transition process. By investigating 277 articles published in 23 leading international academic journals from 2005 through 2019 along with several contemporaneous critical events, this paper finds that entrepreneurial studies have become more complex and diverse along with the growth of entrepreneurial activities. It implies a positive impact caused by China's market transition on entrepreneurial opportunities which has further given rise to the development of academic inquiry in the area. [ABSTRACT FROM AUTHOR]

This paper investigates informal mechanisms of knowledge transfer (KT) from a local university to entrepreneurial teams comprising students and recent graduates. While the extant literature on university-industry KT largely focuses on formal mechanisms aimed at stimulating entrepreneurial initiatives in high-tech (HT) sectors, it overlooks the effect of university-industry KT on nascent entrepreneurship in low-medium tech (LMT) sectors. To fill this gap in the literature, we carry out a mixed-method analysis that exploits a dataset of 154 new business ideas (and 535 team members) presented at a business plan competition in Rimini from 2010 to 2017. Our findings highlight a robust relationship between educational field and the R&D intensity of entrepreneurial projects: students take advantage of the knowledge acquired at university to develop entrepreneurial projects with higher technological content than those planned by non-graduates. Furthermore, the empirical evidence shows that the local university nurtures the formation of ties among students and recent graduates enrolled in the same courses and fosters their efforts to launch new ventures. Finally, the qualitative analysis identifies relevant and non-traditional mechanisms of KT that are being exploited by nascent entrepreneurs to develop their business ideas in the LMT and HT sectors. [ABSTRACT FROM AUTHOR]

The paper aims to analyze firm-specific deterrents of innovation in Bahirdar city MSEs in Ethiopia. In order to attain the objective of the study, both descriptive and explanatory research method is used. In this paper, the data were drawn from 310 MSEs firms which were selected by using a simple random sampling technique. The data were analyzed using descriptive and inferential statistics which include mean, standard deviation, and binary logistic regression model. From the model summary, independent variables that were incorporated under the current study, contributed 69.6% of the deterrents of innovation in MSEs as represented by the Nagelkerke R-square. This means that those variables explain about 69.6% of the deterrents of innovation of MSEs, whereas other factors not covered in this study contributed 30.4% to the deterrents of innovation. The results have revealed that research and development are the most critical deterrent factor affecting technological innovation of MSEs at a 1% level of significance. Besides, cost of innovation and firm size factors are the next important deterrent factors affecting technological innovation of the enterprises, followed by human resource factors. Contrarily, variables such as organizational culture and perceived risk factors have not been statistically significant and less likely to affect innovation of MSEs in the current study. The government and other stakeholders need to work hard to encourage innovation among MSEs by providing support, including an increased supply of credit, training, technology support, and provision of micro and small enterprise information services. [ABSTRACT FROM AUTHOR]

This paper investigates how sectoral linkages amplify or diminish misallocation at the intensive and extensive margins. Our analysis is based on a multisector general equilibrium model with input–output linkages, heterogeneous entrepreneurial abilities, and endogenous occupational choice. Distortions affect the intensive use of production inputs and they also impact the agents' occupational decisions, misallocating the mass and type of entrepreneurs in different sectors of production. When the most distorted sectors are upstream (downstream), input–output linkages amplify (diminish) the loss from entreprenurial misallocation. We calibrate the model to the US and quantify the output losses from sectoral corporate taxes, decomposing the role of networks and the extensive margin decisions. We find that sectoral linkages quadruple the loss from the misallocation of entrepreneurs. We study an entry subsidy program, showing that it should target those sectors whose marginal entrepreneurs suffer larger profit losses, even if they are not necessarily the most distorted. [ABSTRACT FROM AUTHOR]

This study aims to explore the theoretical landscape of global entrepreneurship through a bibliometric analysis. The documents in peer-reviewed papers and conference proceedings are included for the study from the Scopus database based on selected keywords on global and international entrepreneurship. The Biblioshiny package under R programming and VOS viewer is used for analysis. A total of 2531 documents were taken for an in-depth investigation. The findings of the study are; many authors contribute to global entrepreneurship, and they focuses on various areas in global entrepreneurship field, collaborative patterns, trend topics, emerging themes, and future research topics in this theme. The study is purely based on the Scopus database. Hence, other databases are not taken into account. The Scientific Procedures and Rationales for Systematic Literature Reviews methodology were used in this study to understand the trends. The reliability may be affected by the intrinsic flaws in the bibliometric analysis. Primary data not used for the study are considered as limitations. The findings offer insights to scholars, practitioners, policymakers, and entrepreneurs for framing policies, programs, schemes, and activities to develop global entrepreneurship for a promising future for the entrepreneurs and the nation's prosperity. The study's originality lies in the structured literature review. The methodology provides a framework for the state of global entrepreneurship in the past and present and directions for the future. Global entrepreneurship helps to solve problems and to build sustainable global entrepreneurial practices. [ABSTRACT FROM AUTHOR]

Entrepreneurship and democracy are often considered complementary, but recent evidence points to a paradox that entrepreneurial activities have increased in undemocratic contexts. Exploring economic and political freedoms, this paper investigates the development of entrepreneurship in Vietnam, an economy characterised by low economic and very low political freedoms. It suggests changes in economic freedom over time influence opportunity perceptions and activities more than absolute levels. We identify key aspects of how culture and institutions have changed, which have been conducive to entrepreneurship. Overall, we show how even small increases in economic freedom stimulate entrepreneurship, even in the absence of political freedom. [ABSTRACT FROM AUTHOR]

Governments around the world are making active efforts to encourage entrepreneurship. At the same time, governments have also embraced digital technology, particularly the online delivery of government services. This paper examines the effect of offering government services online on the ease of setting up new businesses around the world. Panel data from almost 200 countries between 2002 and 2010 were assembled from multiple public databases and analyzed with fixed-effects regression models in STATA to measure how bringing more government services online affected the number of procedures required to start a new business, as well as the time and cost of these procedures. In this first multi-country time-series study of the effect of e-Government on entrepreneurship, free from the biases of cross-sectional studies, we find that providing more government services online did indeed make it easier to start up business, as did improvements in the ICT infrastructure and education level of the country. We find that the online delivery of government services benefited entrepreneurs by reducing the number of procedures needed to start a business, and by reducing the time and cost of these procedures. Our study provides strong evidence for the positive effect of e-Government on entrepreneurship. [ABSTRACT FROM AUTHOR]

This article presents a narrative review of seven selected studies investigating the impact of digital innovation on entrepreneurship and its outcomes within diverse sociopolitical contexts. Results show that improved innovation output scores and the ability to absorb innovative models are associated with higher GDP growth rates. Technological changes account for 35–40% of the dynamics, while regional factors account for 40%. Internet usage has led to decreased operational costs, increased sales, and better customer interaction for 88% of companies, enabling 83% to expand their markets and 78% to engage more effectively with suppliers. Digitalization fosters entrepreneurship expansion into new markets, creating a positive feedback loop between the two variables. Additionally, the study found that government roles have a more significant influence on entrepreneurship sustainability compared to electronic readiness. Digital technologies have been shown to enhance firm productivity, particularly in manufacturing and intensive industries. [ABSTRACT FROM AUTHOR]

This research proposes a new product development (NPD) framework for innovation-driven deep-tech research to commercialization and tested it with three case studies of different exploitation methods. The proposed framework, called Augmented Stage-Gate, integrates the next-generation Agile Stage-Gate development process with lean startup and design thinking approaches. The framework consists of six stages and five gates and focuses on critical thinking to help entrepreneurs avoid psychological traps and make the right decisions. Early activities focus on scouting for potential socioeconomically impactful deep-tech research, developing a business case, market analysis, and strategy for problem–solution fit, and then, moving to a build–measure–learn activity with a validated learning feedback loop. Next, suitable exploitation methods are decided using weight factor analysis, developing intellectual property (IP) strategy, completing the university technology transfer process, and participating in fundraising. To pass each gate, the committee board members, consisting of tech, business, IP and regulatory, and domain experts, will evaluate the passing criteria to decide Go/No-Go. Applying the framework to the case studies results in successful university research commercialization. The model, case study, and lessons learned in this paper can be useful for other deep-tech incubator programs to successfully launch deep-tech research for commercialization. The case studies' positive outcomes validate the Augmented Stage-Gate framework, yet their success is not entirely guaranteed due to external factors like regulatory constraints, entrepreneur characteristics, timing, and the necessary ecosystem or infrastructure, particularly in emerging markets. These factors should be taken into account for future research purposes. [ABSTRACT FROM AUTHOR]

In group decisions, two issues need to be tackled: weighting opinions of different decision-makers and aggregating their evaluations. Many group aggregation techniques analyse these issues. These approaches can be correctly applied only if the weights assigned to all decision-makers are available. Unfortunately, there are situations where such weights are unavailable or incomplete, the negotiation required to better define them is not possible or decision-makers are unwilling to revise their judgments. These situations could pose a critical problem for the correct application of aggregation procedures. This problem is exaggerated if there are more than one group of decision-makers. In this paper, we present a new algorithm based on the Frobenius norm that considers the choice of the weights in aggregating judgments in a non-negotiable multi-group problem. This approach facilitates the computation of several sets of weights simultaneously, showing the roles played by each decision-maker and by each group in defining the global priority. To illustrate the method, we apply it in designing a new curriculum in entrepreneurship based on an entrepreneurial learning approach informed by perceptions of three stakeholders: entrepreneurship educators, entrepreneurs and entrepreneurship students. Data is collected by pairwise comparison within the analytic hierarchy process and is aggregated using our proposed approach. [ABSTRACT FROM AUTHOR]

Culturally based products and businesses have become increasingly common, drawing attention to artisan entrepreneurship. A small number of studies have comprehensively reviewed artisan entrepreneurship in terms of its antecedents and consequences, as is examined in this study. Specifically, this research looked at the factors that contribute to successful artisan entrepreneurship, managing environmental dynamism, markets, and institutional pressures. This study focuses on developing antecedents and consequences that may be used as a reference for the development of artisan entrepreneurship. A systematic literature review was conducted on 72 papers from the last 50 years from the first quartile of the Scopus database. This study identified that environmental, social, organizational, and individual factors could determine the development of artisan entrepreneurship and have consequences on social, organizational, and individual levels. This framework may aid artisan entrepreneurship and stakeholders in identifying the factors needed in the development of artisan entrepreneurship. The main elements of the resulting research agenda include suggestions for theory development, methodology, antecedents, and consequences. [ABSTRACT FROM AUTHOR]

This study is extensive as a whole and relies on a detailed bibliometric analysis to gain a better understanding of the transformation landscape in artificial intelligence (AI)-related entrepreneurship. A thorough analysis of data, taken from the Scopus database, results in clarified trends identifying AI as an increasingly important component of entrepreneurship from various perspectives. We extracted the bibliographic record from Scopus for 197 documents on AI in entrepreneurship research. By conducting bibliometric analysis, we tried to understand the top-influential and productive papers, authors, sources, and the significant contributing countries and institutions that use AI in entrepreneurship research. This study also intends to identify the most influential and productive writers and development of the discipline of AI in entrepreneurship. The insights identified at the base of this analysis are not only beneficial for exploring the rapidly developing field of AI entrepreneurship. They are also beneficial with respect to several practical implications for different stakeholders and fields. While the above distinguishes provide crucial findings that should be considered for further research within the rapidly changing sector of AI entrepreneurship, they have important implications for various concerned parties, of which researchers, practitioners, and policy makers not the least. The found themes and sub-themes, including business process automation, technology-based innovation, AI-reliant business models, as well as AI role in facilitating startup happenings, represent directions in which the academical research along with practical application is set to get into more detail in the future. [ABSTRACT FROM AUTHOR]

This paper investigates the effects of trade credit on export survival by using cross-country panel data with 41 countries from 1997 to 2014. The export survival rate is the ratio of the number of survivors to the entrants. Trade credit is defined as the net value received of the liabilities and claims arising from receiving or providing supplier credit and advance payment for transactions in goods and services. The empirical results indicate that net trade credit received by the exporters is positively associated with the possibility of export survival and that this effect is notably stronger for second- and third-year firms than for first-year entrants, for crisis and post-crisis periods compared with normal periods, and for cases where endogeneity problem is taken into account. These findings suggest that in order to enhance the sustainability of export flow, governments should employ policies to facilitate greater advance payment, especially during periods of financial distress. [ABSTRACT FROM AUTHOR]

To boost corporate efficiency in both the public and private sectors, innovation is fundamental. Efficient technological transfer and the role of public–private sector collaboration play a major role in the modern growth of knowledge-based economies. As a public service organization, municipalities normally coordinate with all partners to draw up strategies and use them in communities. A new vision is needed for the Gaza Strip municipalities, where all public and private stakeholders work together to co-design and co-develop new cutting-edge products and services aimed at generating shared value through entrepreneurial behavior. However, concrete examples of smart city projects revealed that municipalities often do not have the necessary capabilities as well as innovative approaches to collaborate with start-ups and other stakeholders' ecosystems. So, this paper aims to analyze innovation in the municipal sector shedding light on the barriers and challenges that municipalities in the Gaza Strip face in smart city development. This study uses primary data gathered from various stakeholders through focus groups, semi-structured interviews, and webinars to conclude how the Gaza Strip municipalities can work to address challenges in the smart city context; and to explore how to promote an ecosystem of entrepreneurship and innovation to support the adoption of new hi-tech technologies in the municipal sector. The Gaza Strip municipalities need to offer the necessary conditions for entrepreneurial talents who can bring their creative mindset, and technological experiences to the table, making it possible to build the best teams to solve any challenge. The research also concluded that Open Innovation Platforms can be seen as an important tool for enabling start-ups and researchers to develop innovative Hi-Tech solutions. [ABSTRACT FROM AUTHOR]

This research examines a variety of restrictions preventing Bangladeshi youth, particularly Generation Z university students, from becoming involved in entrepreneurship. Moreover, the study examines the influence of Entrepreneurial Attitude (EA), Subjective Entrepreneurial Norms (SEN), Entrepreneurial Perceived Behavioural Control (EPBC), and Entrepreneurial Resilience (ER) on Entrepreneurial Intention (EI) of Bangladeshi Gen Z university students. A systematic literature review methodology following PRISMA procedure was performed to identify the relevant articles. A quantitative method with a positivism philosophy, cross-sectional time horizon and deductive approach was applied to the study. The data of 206 university students from the BBA department of ten universities were collected using convenience sampling and a self-administrated structured questionnaire survey. SPSS 26.0 and Smart PLS 3.0 were used to analyse the data. The output shows a positive and significant association amongst EA, SEN, EPBC, ER, and EI. Various constraints were identified from the literature and ranked based on the respondents' feedback. This research will help entrepreneurs, scholars, policymakers and practitioners to build the entrepreneurial ecosystem and develop young people's understanding of the entrepreneurial decision process and the importance of ER. This paper contributes through empirical investigation to an understanding of the actions that prevent Gen Z students from entrepreneurial activities; decisions are affected by socio-psychological constructions integrating ER with the Theory of Planned behaviour (TPB) model. Triple, Quadruple and Quintuple Helix models are considered supporting theories in this study to shed light on tackling the constraints. To the best knowledge of the researcher, integrating ER with TPB model's constructs is a pioneer scholarly contribution in the context of South-East Asian, specifically Bangladeshi Gen Z students. [ABSTRACT FROM AUTHOR]

This paper reflects on adult education and the fostering of an entrepreneurial mindset. It solicits roles adult education, especially the non-formal education (NFE), could play in fostering entrepreneurial mindset of young adults. It examines short-to-medium, and long-term plans of young adults in nurturing growth and enterprising mindsets through involvement in NFE endeavours. It probes into entrepreneurial opportunities and challenges in the communities that young adults could recognise and create enterprises for themselves. This is a narrative case study which purposively selected, as the unit of analysis, an adult learner who was operating a micro-enterprise and pursuing a degree programme at Accra Learning Centre. An in-depth telephone interview was conducted to garner stories and experiences young adult have had innovating with an entrepreneurial mindset. Thematic, analytical, narrative and interpretivist approaches were adapted in presenting the results. The participant had a good experience in his start up, he learned lessons, and worked hard to grow his micro-enterprises. The savings culture he built allowed him to cope with difficulties posed by Covid-19 pandemic to his micro-enterprises. Governments and stakeholders in entrepreneurship should via policy, advisory and financial support motivate young adults to invest in entrepreneurship and create sustainable jobs for themselves. [ABSTRACT FROM AUTHOR]

Whereas the influence of political regimes across various dimensions of economic and political performances has been considered by many scholars, the political regime-entrepreneurship relation has received relatively less attention. This paper uses data on a large sample of nations over two decades to examine the impact of different political regimes on nascent and established entrepreneurs. Results show that while the consideration of aggregate democracies boosts established entrepreneurs, it does not significantly affect nascent entrepreneurship. A unique finding is that border (spatial) democracies have positive spillovers on entrepreneurship in a nation and these spillovers hold across entrepreneurship types. Furthermore, the positive effects of political regimes are not confined to democracies and these influences vary across nascent and established entrepreneurs. Military regimes, however, consistently showed no significant impact on either form of entrepreneurship considered. Finally, the introduction of corruption, capturing institutional weakness, shows that greater corruption acts as an impediment to entrepreneurship, offsetting some of the positive spillovers from political structures. [ABSTRACT FROM AUTHOR]

This paper explored entrepreneurial intentions in the Caribbean adult population using a social cognitive approach. It used the Global Entrepreneurship Monitor (GEM) Adult Population Survey (APS), which includes questions about entrepreneurial intentions of potential business owners and entrepreneurial perceptions, namely individual, entrepreneurial opportunities and socio-cultural, along with demographic and socio-economic variables. The effect of perceptions along with socio-economic control variables on entrepreneurial intentions was investigated using probit regression models. The results confirm that even after controlling for demographic and socio-economic and country fixed effects, social cognitive perceptions were indeed relevant in explaining entrepreneurial intentions in the region. This study therefore provides insights into understanding entrepreneurship in particular the decision to form a new business through the individual's perceptions and intentions. [ABSTRACT FROM AUTHOR]

We develop a jump-diffusion model for a guarantee-investment combination financing mode (G-I mode) that is recently popular in financial practice. We assume that a borrower has exclusively an option to invest in a project in two stages. The project's cash flow follows a double exponential jump-diffusion process and it is increased by a growth factor once the second-stage investment is exercised. The first-stage investment cost is financed by a bank loan with the guarantee provided by an insurer, who promises to provide the second-stage investment cost as well as take the lender's all default losses. In return for the guarantee and investment, the borrower pays a guarantee fee upon first investment and grants a fraction of equity upon second investment to the insurer. In sharp contrast to prior papers on guarantee, the guarantee costs are contracted prior to investment. We provide closed-form solutions and produce a numerical algorithm for the timing and pricing of the two investment options. [ABSTRACT FROM AUTHOR]

This conceptual and theoretical research argues about some implications of the post-development era for rural entrepreneurship as a new developmental strategy and approach. This paper tries to remind us that the entrepreneurship is not an easy ride and has some dark sides; therefore, there is a pressing need to make entrepreneurship more welcoming to criticism and to clarify its common sense ways of thinking and practicing. From the methodological point of view, this study is some sort of an explanatory and instrumental case study and its focus is on the process of rural development in Iran as a specific event or phenomenon. The paper draws on Campbell Jones and André Spicer's critical theory and approach and is inspired by Aram Ziai's skeptical post-development in order to unmask the mainstream entrepreneurship discourse and practice in Iran. The paper claims that although rural entrepreneurship is not a deceitful mirage or malignant myth, its current situation in Iran is definitely a sharp deviance from the classic development goals, and therefore the deconstruction of its mainstream discourse and practices is an urgent need. As the main propose of the paper, this deconstruction should be based on a skeptical and critical unmasking theoretical framework. Through answering some important questions, one of the main arguments of the paper is that now it is time to return to the classical goals of development, but after exercising some radical discursive and practical entrepreneurial policy changes. [ABSTRACT FROM AUTHOR]

The tremendous speed of technological progress has accelerated the diffusion of digital technological innovation among students. The advances in technology have motivated students' orientation towards digital entrepreneurship and their intention to become potential entrepreneurs. This study aims at examining digital entrepreneurship characteristics, their impact on the perceived business opportunity, and whether students' personality traits moderate the relationship between entrepreneurial characteristics and perceived business opportunity. This paper also examines the situation in greater depth to check the influence of gender on digital entrepreneurial characteristics, personality traits, and perceived business opportunities. To quantify the effects of the structural model, this paper incorporates a quantitative research methodology that uses a PLS-SEM approach. This study revealed that digital entrepreneurship characteristics such as optimism and realism strongly influence business opportunities, whereas pessimism harms entrepreneurial business opportunities. Optimism, pessimism, realism, and students' personality traits significantly differ across the gender categories, whereas perceived business opportunities do not differ significantly. [ABSTRACT FROM AUTHOR]

To promote women empowerment, entrepreneurship provide economic power meant to increase women's access to economic resources in the households. This paper aims to address the effect of entrepreneurship on specific domains of women decision-making power and how it relates to women empowerment. Furthermore, it examines a specific pathway to better understand whether increased access to entrepreneurship translates into empowerment in intra-household decision-making for tribal women of Bangladesh. One hundred and eighty tribal women entrepreneurs interviewed considering two districts of Sylhet division using face to face interview schedules and Focus Group Discussion. The results generally indicate that four socioeconomic factors as education, personal income, training and association with NGOs, were major to becoming entrepreneurs. In some cases the value of decision goes to the husband; in other cases, all goes to the wife alone; in other cases the value of decisions is shared equally husband and wife. Tribal women become more empowered after entrepreneurship and increased their intra-household decision-making from 0.71 to 1.30. It also found that entrepreneurship had a positive and significant impact on women empowerment in the emerging of tribal economies. It was therefore, suggested that Govt. and other relevant organization should take some initiatives as specific enterprise related infrastructure development, accessibility to loans, enterprise based education, and specific market establishment. [ABSTRACT FROM AUTHOR]

Minority entrepreneurs significantly contribute to Canada's economic development. This contribution to the Canadian economy comes in various forms, including setting up businesses such as convenience stores, ethnic restaurants, and financial services. This paper aims to explore the motivation for entrepreneurship among Black population in Alberta, Canada. Using in-depth interviews and focus group discussions, the study shows that many Black entrepreneurs are "pulled" rather than "pushed" into entrepreneurship. Although some participants were pushed into entrepreneurship because of labor market exclusion, the majority were opportunity seekers who pursued entrepreneurship as a strategic response to opportunity structures in their environment rather than a reactive response to escape ethnic penalties. This study emphasizes the complex relationships between minorities' characteristics and resources and the opportunity structures that affect the ability to start a business. [ABSTRACT FROM AUTHOR]

The Chinese entrepreneurs in Malaysia and Indonesia experienced the Asian Financial Crisis and emerged from it stronger than ever in their own economies. In contrast, many indigenous entrepreneurs were bankrupted by the financial crisis. This paper seeks to explore the reasons that contributed to the resilience of the Chinese diaspora entrepreneurs in the respective economies. The study will not only contribute to a better understanding of diaspora entrepreneurs but also determine factors that enhance the resilience of entrepreneurs. In order to synthesise the research on resilience and Chinese diaspora entrepreneurs in Malaysia and Indonesia, the study employs a historical institutionalism method. The study shows that resilience capacities identified in the literature include financial, physical, informational, and social resources; cognitive, behavioural, and emotional capabilities; and personality traits are acquired or developed within a turbulent environment and deployed in future such environments, i.e. experience is key to the development of the capacities. [ABSTRACT FROM AUTHOR]

Entrepreneurial ecosystems (EE) are particular systems of interdependent actors and relations that directly or indirectly support the creation and growth of new ventures. EE can vary a lot, based on a unique and dynamic combination of several elements whose relevance can differ across regions. Most studies acknowledged, or ex-ante assumed, that EE elements are all relevant to the same extent, yet others suggest that some EE elements are more important in creating the environmental conditions necessary to foster entrepreneurship in a specific territory. In this paper, we contend that research should provide evidence on this territory-specific matter. Specifically, more evidence is needed on the relevance of each EE element at regional level—as we lack empirical analysis that discriminates between EE types according to elements' importance. To fill this gap, we assess and characterize the existence of EE types at the regional level in Italy. Our findings suggest that four EE types exist, and they are characterized by a balanced combination of EE elements. On the basis of our results, we generate propositions providing insights that may be useful for future research and policymaking. [ABSTRACT FROM AUTHOR]

The economic development of the tourism in disadvantaged mountain areas has the role of sustaining their development and economic growth. The premise of a successful development of tourism in these areas is given by the authenticity of resources. This paper aims to highlight the strategic perspectives/outlook of tourism in disadvantaged mountain areas through the evaluation of strategic alternatives using the concerted analysis SWOT-AHP. The aim of this study is to support communities and actors involved in the phenomenon of tourism in disadvantaged mountain areas in order to achieve positive results and as much as possible with awareness and avoidance of risks, and prevention or combating negative consequences. During the research and analysis, in accordance with the literature, the issue of entrepreneurship was treated as a dependent variable, and the phenomenon of tourism as an independent variable. The vision of tourism planning in disadvantaged mountain areas must focus on its sustainable development that contributes to increasing entrepreneurial initiatives by diversifying and ensuring the complementarity of tourism services calibrated to the needs of tourists and adapted to new social challenges. The strategic planning in the area of the tourism of disadvantaged mountain areas represents a topical challenge in the context of promoting sustainable tourism. Currently, there is a strategy at national level for developing tourism, but there is no strategy for developing tourism in disadvantaged mountain areas. [ABSTRACT FROM AUTHOR]

The aim of this paper is to assess the level of success achieved by entrepreneurs. The concept of success has many subjective facets, and it needs to be evaluated to reach other higher objectives, such as improving support systems for entrepreneurs. The usual pre-existing focuses for the evaluation of business performance are analysed and adapted. Based on a real case, the most relevant variables for detecting success are studied and an algorithmic process (based on decision trees) is established to ascertain whether an entrepreneur has achieved success. The data refers to entrepreneurs from Andalusia, the European region with the highest unemployment rates and where support for entrepreneurship is on the agenda of all political parties. The model specifies a minimal set of variables to evaluate success in each case. Subsequently, a simple set of 29 questions is also offered, serving to classify most entrepreneurs (over 98% of 2221 individuals in the case analysed) by their level of success. An objective procedure to measure the success of entrepreneurs is given. Such method is based on artificial intelligence and on three focuses: positioning, expectations and evolution. Both the variables used in this case and the 29 questions necessary to classify the entrepreneurs by their level of success are explicitly provided. [ABSTRACT FROM AUTHOR]

This paper presents evidence on the identities, values and success goals of creative entrepreneurs in Slovakia. The research relies on a database of creative firms supported by the Slovak Creative Voucher Scheme. The survey-based research compares the success goals of creative entrepreneurs with those of people from conventional industries. The research design acknowledges substantial regional economic disparities in Slovakia. The success goals of creative entrepreneurs from the Bratislava region are compared with those of entrepreneurs from less developed regions. Non-parametric tests are applied in order to establish between-group differences. We found that creative entrepreneurs indeed had their own sets of business motives and success goals, different from those of entrepreneurs in conventional industries. The success goals of creative entrepreneurs were not impacted by the location of the business. Creative entrepreneurs located in the capital region of Bratislava had the same structure of success goals as that of people from underdeveloped regions. [ABSTRACT FROM AUTHOR]

The purpose of this study is to examine the relationship between identity centrality and entrepreneurial intention. Based on a survey of 275 academic scientists from 14 Chinese universities, the results show that entrepreneurial identity centrality positively influences the intention to engage in research commercialisation activities, such as spin-off creation, patenting and licensing, contracting research and consulting. We also found that the conflict between entrepreneurial and scientific identity centrality is less problematic than expected in the literature. In fact, the interaction between both identity centralities strengthens academics scientists' intention to involve in academic entrepreneurship. Concerning the influence of institutional factor on academic entrepreneurship, the finding confirms that university entrepreneurial mission moderates the relationship between both identity centralities and the intention to establish spin-offs. Finally, this paper provides insights for academic entrepreneurship in China and practical recommendation for policy makers. [ABSTRACT FROM AUTHOR]

It is widely accepted that somewhere in the region of 90–95% of startups fail. It is often suggested that the majority of unsuccessful startups either failed to identify a viable idea, or they failed to execute the idea effectively enough to get to market before running out of cash. Two approaches stand out as being particularly well-suited to addressing these problems: Design Thinking and Lean Startup, respectively. This paper presents the Concepturealize™ methodology that cross-applies Design Thinking and Lean Startup as a single iterative process and that enables the entrepreneur to generate real-needs-focussed, user-centred, lean business models. Existing literature reveals a need for further exploration of cross-application of Design Thinking and Lean Startup (and other related methodologies) in the areas of business model development and innovation. This work answers the research question by review of prior attempts to combine Design Thinking and Lean Startup and presenting the Concepturealize™ model that cross-applies Design Thinking and Lean Startup in a single iterative methodology and that enables the practitioner to generate real-needs-focussed, user-centred, lean business models. By following this new process model correctly, a practitioner will be guided to uncover a viable way to create value, develop a deep understanding of the value proposition, the target customers and how to reach and serve them, together with the expected revenue and costs, all needed to properly formulate the business model. Finally, the practitioner may use the Concepturealize™ model to retest the problem–solution fit and understand how the customers perception of value has altered, each time a new product or new features are launched, looking to continually add value at each cycle. Whilst prior research has explored how organisations may make use of both DT and LS, it has failed to demonstrate how they may be used in parallel, throughout the entire business model development process, instead it demonstrates examples of insight into where to transition from one model to the other. This work progresses the state of the art by following Design Science guidelines to present how the true, in-parallel, cross-application of DT and LS, in the context of business model development, is possible. [ABSTRACT FROM AUTHOR]

Adding to the research on the corruption and gender nexus, this paper contributes by several dimensions, including: (a) measurement of corruption across corruption perceptions and corruption experiences; (b) focusing on entrepreneurship level by studying whether female managers and female owners of firms perceived/experienced corruption differently; (c) using survey information at the firm level; and (d) employing a large sample of mostly developing nations covering more than 100 countries. Results show that female owners had greater corruption experience, ceteris paribus, while female managers perceived corruption to be lower. The perceptions of female managers, however, were sensitive when dimensions of gender equality were considered. With regard to firms' characteristics, including firm's age, size, and ownership, there was relatively greater support for these factors impacting corruption perceptions than corruption experience. All this underscores the need for effective corruption-control polices to pay attention to how corruption is measured, as well as the identity (gender) and position (owners or managers) of those underlying the relevant data. [ABSTRACT FROM AUTHOR]

Amid the global dilemma of youth unemployment, youth entrepreneurship has had an important impact on social, cultural and economic progress, and various countries have actively promoted relevant frameworks and strategies. Taiwan has many cultural assets whose original functions are no longer preserved. Fortunately, the public sector has thought a variety of redevelopment strategies to promote sustainable development, and new functions and usage patterns for these sites have emerged. However, there is a lack of research investigating the links between youth entrepreneurship, community participation and place attachment in local-development projects: a gap that this paper intends to fill. Against the backdrop of one such project, this study discusses the interrelationships of youth entrepreneurship, community participation, place dependence and place identity. Its results indicate that the different personal backgrounds of young entrepreneurs had little or no bearing on the extent of their community participation, place dependence or place identity. However, such community participation had a moderately positive correlation with place dependence and place identity, leading the authors to conclude that the participation of a community of young entrepreneurs brings new opportunities for local development that transcend the mere reduction of youth unemployment. That is, in addition to maintaining and preserving historic spaces, it boosts both sustainable development and diversity in the broader local community. They also calls for future research to assess whether community participation influences place attachment in other parts of the world. [ABSTRACT FROM AUTHOR]

Academic research is generally seen as one of the most important goals of a university, but universities are being called upon simultaneously to assist in building a local entrepreneurial ecosystem and contributing to economic growth. Universities can be the source of startups based on academic research results and thereby influence a given industrial context. This paper investigates the impact of academic entrepreneurship on the economic performance of university spin-offs (USOs) and, in particular, how the composition of the founding team, the diversity of academic ownership, CEO duality, and the presence of women on the board of directors affect USO success. We study these relationships with a cross-sectional sample of 136 firms in southern Italy. Our findings highlight that governance and ownership can influence various indicators that are often used for measuring enterprise success in different ways and that, based on the specific success metrics, managers or policymakers should consider different aspects to better understand a USO's potential for success. [ABSTRACT FROM AUTHOR]

Entrepreneurship needs to transition into leadership to advance stakeholders' interests both within and outside a firm. Based on insights from recent advances in leadership theory and practice, we present a simple, yet elegant model called TRY Leadership that identifies three qualities that enable entrepreneurs to be effective leaders in society. The TRY model complements and contributes to the emerging paradigm of responsible leadership to offer an actionable framework of leadership for entrepreneurs. [ABSTRACT FROM AUTHOR]

The agribusiness sector development is often portrayed as an essential component of economic development. Though Benin is a country with inestimable agricultural potential, the agribusiness sector appears unappealing to the local youths. Prior investigations diagnosed the impeding factors as a paucity of financial resource and a dearth of land and technical knowledge. This article departs from past studies by considering the importance of informal institutions for youth participation in the agribusiness sector. Exploring a rich data set of 478 youths aged 15 to 35, collected in Southern Benin based on the stratified random sampling technique, the article uses propensity score matching to address selection bias and logistic regression on the matched sample to link informal institutions to youth participation in agribusiness. Results highlight that agribusiness-unfriendly informal institutions discourage youth participation in the agribusiness sector. Though easing access to finance is crucial for the youths to initiate agribusiness activities, findings make a case for long-term policies that aim to increase the societal levels of trust and desirability for the agribusiness sector. [ABSTRACT FROM AUTHOR]

The main objective of this study is to provide a comprehensive and inclusive review of current research on sustainable entrepreneurship (SE). One of the aims of this study is to navigate the understanding of SE practices by investigating the prospects and trends in research on sustainable entrepreneurship. It seeks to present an efficient portrayal of the latest research on sustainable entrepreneurship, serving as a valuable reference for scholars, practitioners, and policymakers. By applying the PRISMA approach, this study is based on a systematic literature review (SLR), and a substantial pool of 363 Scopus results and 291 WOS results was obtained using the keyword "sustainable entrepreneurship," yielding a total of 654 articles that may be deemed possibly relevant. After the methodological screening, 234 mainly chosen studies using databases, including Scopus and WOS. This SLR utilizes thorough descriptive, Network, and thematic analysis, research tendencies, and methodological approaches. The findings of this study discussed the possible research gaps and future trends, suggesting the significant need for a stable framework for SE concepts. Empirical and exploratory studies are linked with social, economic, and technological scope, specifically sustainability, and are related to artificial intelligence (AI) studies. It contributes to laying the groundwork for future investigations into the critical connection between entrepreneurship and sustainability. Furthermore, given the continuously changing landscape of sustainable business, certain conclusions may be outdated. [ABSTRACT FROM AUTHOR]

Recent studies have explored the role of firm dynamics and the connection to job reallocation. However, limited attention has been devoted to the role of micro and small firms in this process, particularly about the quality of the jobs generated. Therefore, this article aims to measure the impact of micro and small firm dynamics on occupation diversification in Brazil, with specific emphasis on job quality. The study used data from 558 microregions within the Brazilian industrial sector between 2003 and 2015. Panel data were applied to three econometric models: Feasible Generalized Least Squares (FGLS), Driscoll–Kraay (DK) and Instrumental Variable (IV) models for robustness analysis, including Two-Stage Least Squares (2SLS), Limited Information Maximum Likelihood (LIML), and the Generalized Method of Moments with Continuously Updating Estimators (GMM-CUE). Our main finding reveals that the dynamics of micro and small firms positively impact occupation diversity in Brazil, leading to the creation of a wider range of job types. Furthermore, the frequency of change of firms from microenterprises to small businesses increases the occupation diversity in the Brazilian industrial sector. Our findings are significant in providing policy recommendations for developing countries to achieve a more diverse labor market. [ABSTRACT FROM AUTHOR]

Transnational Nigerian immigrant entrepreneurs have been in Ghana for a long time, operating by utilizing a wide range of resources available to them. Key among these resources are their own socio and ethno-cultural norms which have yet to be explored in the existing scholarship. We explore these patterns and norms in the articulation of transnational entrepreneurship among these immigrants in Ghana. We do this by relying on qualitative data gathered through in-depth interviews, observations and market conversations—with 41 Nigerian immigrant entrepreneurs in Accra, Kumasi, and Ashaiman. We argue that these transnational Nigerian immigrant entrepreneurs in Ghana are embedded in their own 'socio and ethno-cultural heritage'. This argument is anchored in multiple logics. First is the notion of transnational entrepreneurial activity that is ethnically and culturally inspired. Secondly, these entrepreneurship activities are inextricably embedded in informality and intensely rely on informal power brokerage system. Thirdly, there is an embeddedness in the entrepreneurs' own traditional apprenticeship system. These lines of socio and ethno-cultural embeddedness provide useful pathways for understanding not only the operations and future prospects but also the patterns of transnational (mixed) embeddedness of the Nigerian immigrant entrepreneurs in Ghana. [ABSTRACT FROM AUTHOR]

Objectives: Entrepreneurial spirit is considered a vital resource for the economy in various countries where entrepreneurs found businesses. It is thus crucial to analyze the relationship between entrepreneurship and global crises, as entrepreneurial initiatives can be affected by the economic instability that crises generate. This study uses bibliometric analysis to explore the topic of entrepreneurship in situations of global crisis. Theoretical framework: Starting from the structure of bibliometric analysis, we analyzed 1111 documents retrieved from the Scopus and WoS databases for the years 2000–2023. Methodology: We characterized the documents studied and analyzed citations, co-citations, co-words, and co-authorship using VOSviewer software. Results/implications: Our analysis produced results on networks among authors and countries. We also obtained significant results on the structure of the field studied and its projection for the future. Finally, we propose implications and opportunities for future lines of research. [ABSTRACT FROM AUTHOR]

Most entrepreneurs seek VC funding after the reward-based crowdfunding campaign succeeds, and venture capitalists (VCs) can contribute to the project in two aspects: investment and operational expertise. With a game-theoretical model, we find that entrepreneurs face twelve possible scenarios contingent on the mass market revenue and revenue share, including the six scenarios wherein neither side exerts effort to complete the project. To attract VC funding and ensure the project completion after a campaign success, entrepreneurs should set the funding goal above a certain threshold. Specifically, we identify three ranges of the revenue share and derive the lower bound for the funding goal in each range. However, we notice that entrepreneurs prefer a low funding goal to promise the campaign success and the optimal goal will be the lower bound in each range. Moreover, we show that the revenue share is decisive to the role of VCs in the project. If the entrepreneur's share exceeds a high threshold, the venture capitalist becomes a pure investor with no incentive to exert effort, similar to the role of banks; if the share is less than a low threshold, the entrepreneur won't follow up but transfers the project, and the VC investor will be a project owner; if the share stays medium, the VC investor acts as a partner and there may exist "free-riding". In the extension, we consider the revenue share an endogenous and analyse the role of VCs further. Interestingly, the VC investor prefers to own the project and occupy all revenue in mass market, while the entrepreneur treats the inefficient venture capitalist as a pure investor and the efficient one as a partner. In addition, when cooperating with efficient VCs, the entrepreneur is more likely to enlarge her share as the mass market revenue increases. [ABSTRACT FROM AUTHOR]