New Venture Creation

The framework for this study is based on the research and literature related to serial entrepreneurs and entrepreneurial ecosystems. Our sample is 12 serial entrepreneurs within a single context—the Waterloo Region—that has been ranked as one of the top start-up ecosystems in the world. In 2012, it was ranked 16th with 32 % of the start-ups identified as being led by serial entrepreneurs. The study provides an understanding of the characteristics that define a mature ecosystem, with specific input on the Regional Municipality of Waterloo, Ontario, Canada. We profile the 12 entrepreneurs to provide a review of their businesses, the contributions they have made within their ecosystem, and their statements on what they have learned in the process of leading multiple ventures. This research may be useful for communities and nations that seek to focus on entrepreneurship as a means for economic growth. It should also stimulate further research on contextual issues and examine serial entrepreneurs within their own ecosystem. -- Entrepreneurs have been viewed as the engines that can move the economy forward, providing new businesses that add to entrepreneurial ecosystems in geographic regions. But entrepreneurs are unevenly distributed individually and geographically. Entrepreneurial behavior is increasingly recognized as being heterogeneous with regard to variations in the level and nature of experiences.

Research shows intentions as the best predictor of behaviour or action, more so if the behaviour requires some unknown time lags to get it realised. This mixed methods research is conducted to explain what factors encourage or discourage entrepreneurship among undergraduates in Southsouth and Southeast Nigeria and to know whether the factors are the same across the two regions. It surveys 1,129 indigenous final-year undergraduates from 11 states, in 15 universities across 12 faculties and 68 departments in the two regions studied plus four focus groups of 42 participants. It uses a partial least squares structural equation modelling technique (PLS-SEM) to analyse the survey data. It finds the personal attitude construct as the strongest influence on the entrepreneurial intentions variable, followed by the perceived behavioural control construct. The next influence is the perceived barriers construct; it acts as a discouraging factor. The focus group interview results find that the undergraduates explained the factors that influence them as being transformational, affective, push, personal fulfilment motives and personality traits. Moreover, the results indicate that the undergraduates would more likely embrace entrepreneurship if courses were taught in a more practical or application-oriented approach than theory-oriented. Also, if relevant internships were introduced in their courses, entrepreneurship lecturers were experienced entrepreneurs, and universities had a strong collaboration with relevant industries too. The partial least squares multi-group analysis detected no significant differences in any of the 18 relationships hypothesised, based on the model paths. This result suggests that, conceptually or theoretically, the factors modelled as influencing the South-south and Southeast students toward entrepreneurship are fundamentally the same. Nevertheless, in practice as well as in the wider society, the pattern between the two regions might somewhat differ. The reason is that the participants in the focus group interviews consistently demonstrated that they observe and, therefore, perceive the people of Southeast Nigeria as exhibiting a more peculiar flair for entrepreneurial activities in practice. The participants offered various explanations for their position to include: apprenticeship, serial mentorship, crave for independence, early childhood introduction to business by family, and profit motives as the factors that they believe, are more likely to distinguish the Southeast people from their South-south counterparts in entrepreneurship pursuits. They believe, also, that graduates from the two regions would probably follow the same observed patterns of entrepreneurial behaviours. Thus, a major implication would be that in undertaking undergraduate entrepreneurship research, accommodating multi-logical approaches that also encourage views of the students could offer more useful solutions for policy on what students perceive would attract them toward entrepreneurship. iii TABLE OF CONTENTS ABSTRACT…………………………………………………………………………………………………………. ii TABLE OF CONTENTS………………………………………………………………………………………… iii ACKNOWLEDGEMENTS…………………………………………………………………………………….. vii LIST OF TABLES…………………………………………………………………………………………………. viii LIST OF FIGURES……………………………………………………………………………………………….. ix LIST OF ABBREVIATIONS……………………………………………………………………………………. x LIST OF APPENDICES…………………………………………………………………………………………. xii CHAPTER ONE: INTRODUCTION 1 1.1 Background to the study…………………………………………………………………………………………………. 1 1.2 1.3 Aim and objectives…………………………………………………………………………………………………………. Research questions…………………………………………………………………………………………………………. 7 8 1.4 4.2.3 Robinson's et al (1991) "entrepreneurial attitude orientation model"…………………………. 72 4.2.4 Ajzen's (1991) "theory of planned behaviour" (TPB)……………………………………………………. 74 4.2.5 Krueger and Carsrud's (1993) "intentional basic model"……………………………………………… 77 4.2.6 Krueger and Brazeal's (1994) "entrepreneurial potential" model………………………………… 78 4.2.7 Boyd and Vozikis' (1994) intention model……………………………………………………………………. 80 4.2.8 Davidsson's (1995) "economic-psychological model" of entrepreneurial intentions……. 81 4.2.9 Douglas and Shepherd's (2002) "maximization of expected utility" model………………….. 83 4.2.10 Elfving, Brännback and Carsrud's (2009) contextual model of entrepreneurial intentions……………………………………………………………………………………………………………………... 85 4.3 Conceptual framework on the factors that influence entrepreneurial intentions…………. 88 4.3.1 Justification of the conceptual framework and hypothesis formulation……………………….. 95 4.4 Review of related empirical literature on factors that influence entrepreneurial intentions……………………………………………………………………………………………………………………… 97 4.4.1 "Personal attitudes" (PA), "subjective norms" (SN), "perceived behavioural control" (PBC) and entrepreneurial intentions……………………………………………………………………………. 97 4.4.2 Personality traits and entrepreneurial intentions…………………………………………………………. 107 4.4.3 Entrepreneurial capabilities and entrepreneurial intentions…………………………………………. 110 4.4.4 Contextual factors and entrepreneurial intentions……………………………………………………….. 111 4.5 Summary of the literature review…………………………………………………………………………………. 113

Innovations are produced by entrepreneurs’ imaginations. To turn imagined ideas into realized innovations, entrepreneurs must attract the resources necessary to create the innovations they envision. Resource acquisition involves crafting and communicating compelling narratives that persuade stakeholders to provide resources. However, there is not a clearly articulated theory linking entrepreneurial imagination, narratives, and the production of innovations. To construct such a theory, this paper extends work on narratives in literary theory and, specifically, Tolkien’s theory of narrative fantasy. It is proposed that entrepreneurs’ narratives about innovations are, initially, “fantasies” because they describe possible worlds in which the imagined innovations exist. As fantasies, the characteristics of persuasive fantasy narratives, such as the degree to which the narratives achieve an inner consistency of reality and suspend audiences’ disbelief, influence entrepreneurs’ ability to convince stakeholders about the viability of imagined innovations. The proposed theory contributes to entrepreneurship scholarship by developing a process model that articulates how entrepreneurs’ imaginations manifest in their narratives, which, in turn, influence the realization of innovations. The theory generates concrete implications for entrepreneurs and suggests that as the novelty of an imagined innovation increases, it becomes more critical for entrepreneurs to construct compelling narratives to describe the innovation. Thus, entrepreneurs and scholars should be attentive to the role narratives play in moving beyond the idea phase of entrepreneurship and bridging imagination and innovation.

Start-Up is ideal for anyone looking to start a business – whether you are a student or a professional preparing to launch your own business or social enterprise. It covers the crucial business processes you need to consider when starting a new venture, and contains inspirational and educational cases of successful start-ups by young people from across the globe, including the UK, the US, Hong Kong and Romania. Drawing on the author's extensive practical experience, this book is a unique and invaluable guide to the world of start-ups.

Key features:
• Assumes no prior knowledge and covers essential finance skills.
• Firmly based in practice with detailed advice on carrying out market and industry research.
• Features an extensive range of international case studies and examples of start-ups.

This concise and lively book is the perfect resource for students and entrepreneurs alike.

This is a conceptual paper in exploring the differences in decision making process between family business and non-family business in the construction industry in Malaysia. The understanding of the complexity and dynamics of a family business is becoming more prevalent among researchers. Fast decision making is not only seen as necessary but crucial to ensure speed and efficiency in responding to market opportunities and maneuvering through market uncertainties and tumultuous environment, with the intention to diversify their businesses by finding opportunities towards new venture creation. This study intends to suggest how to simplify decision making and find tactics to have quality decision making. Hence, this study will focus primarily on the decision making process which is mapped against the Bayesian causal map.

Most academic research on entrepreneurship tended to focus on owner-managers of ongoing businesses.  However, very little is known on entrepreneurial intentions, particularly why or how certain ventures were started.  Using data from 145 retired military officers from the Singapore Armed Forces, this study identifies the key motivations and barriers to starting an entrepreneurial venture amongst mid-career individuals.  Our findings suggest that would-be entrepreneurs are motivated to start a business by intrinsic rewards, autonomy/independence and extrinsic rewards.  On the other hand, the barriers to starting a business for the non-starters are due to hard reality, a lack of capital, a lack of skills, compliant costs and a lack of confidence.

A detailed and critical analysis of the multiple types of entrepreneurship, helping students to understand the practical skills and theoretical concepts needed to create their very own entrepreneurial venture.

Split into two parts, the book provides an even balance between theory and practice. Part 1 covers the practical activities involved in new entrepreneurial ventures, and Part 2 uses the latest research to explore entrepreneurship from different perspectives.

The Second Edition has a new author, Catherine Wang, and features a collection of practitioner boxes, student focus cases, and new international case studies, including Dyson, Facebook, Made.com, and examples of entrepreneurship in China and Ghana.

There are two new chapters on the Varieties of Entrepreneurship, including social entrepreneurship (not-for-profit) and Intrapreneurship (employees within organizations) and Entrepreneurial Learning, which explores how entrepreneurs hone and develop their thinking.

The book is complemented by a companion website featuring a range of tools and resources for instructors and students, including PowerPoint Slides, additional mini cases, seminar questions, guidance on new venture creation activities, test bank, SAGE journal articles, video links, revision tips, and an instructor’s manual.

Suitable reading for students taking modules in Entrepreneurship or New venture creation at upper undergraduate and postgraduate levels.

Fuelled by accelerating digitization, increased global interconnectivity, and transparency (coupled with shifting overarching political agendas, altered user expectations, and technological advances), the legal industry faces unprecedented change across its entire value chain. Within this quadriga, the following two forces are the chief drivers of the chariot of change: The frst driver is the emergence of stable technological solution-ecosystems which will string together
the current impressive but isolated technological breakthroughs. These
ecosystems offers both vertical, purpose-built applications and horizontal platform solutions. What initially had appeal only for an early-adopter niche audience will become acceptable for those commanding signi􀂿cant market share. The second driver is the manifestation of future needs and expectations of the demand-side which as we have observed once before with the initial rise of General Counsels may lead to dramatic re-drawing of lines and re-shaping of the industry.
But is it really disruption we will see or evolution? The importance of the
advent of new technological solutions, especially as we enter the age of exponential technologies with their prospect of hyper-acceleration of change supports the mantra that the legal industry will face disruption. This would eventually mean the passing on of dominance from established players to the successful promoters of new technology-based dominant designs as heralded by many LegalTech advocates. To try to determine the answer in an informed way, it is useful to first revisit the underlying key concepts of invention, innovation, diffusion, and disruption. Therefore, the frst three sections in this chapter provide a summary of the essential research and theory by leaders in the field including Joseph Schumpeter, James Utterback, Everett Rogers and
Michael Porter. Utilizing their theories on the trajectory of innovation, the last two sections then provide some predictions about how the law marketplace will have to adapt and evolve in the future. This chapter concludes on a positive note. Although legal professionals may need to put on «new suits», the future represents an enormous opportunity to reinvent what it means to be a lawyer and how we add value for our clients.

Startup companies are newly born companies which struggle for existence. These entities are mostly formed based on brilliant ideas and grow to succeed. These phenomena are mentioned in the literature of management, organization, and entrepreneurship theories. However, a clear picture of these entities is not available. This paper tries to conceptualize the phenomenon, i.e. “startup”, and recognize the challenges they might face. After reviewing the life cycle and the challenges, the paper concludes with some concluding remarks.

Startup companies are newly born companies which struggle for existence. These entities are mostly formed based on brilliant ideas and grow to succeed. These phenomena are mentioned in the literature of management, organization, and entrepreneurship theories. However, a clear picture of these entities is not available. This paper tries to conceptualize the phenomenon, i.e. "startup", and recognize the challenges they might face. After reviewing the life cycle and the challenges, the paper concludes with some concluding remarks.

We introduce the concept of team entrepreneurial passion (TEP), a team-level construct representing the level of shared intense positive feelings for a collective and central team identity for new venture teams (NVTs). Additionally, we develop a dynamic theoretical model of (a) the processes by which TEP can emerge from different combinations of new venture team members’ individual entrepreneurial passions; (b) the influence of TEP on team and individual member outcomes; and (c) the relative importance of TEP emergence and influence processes at different venture stages. Our model has theoretical and practical implications for scholarship concerning affective diversity, shared affect, collective identity, NVTs, and entrepreneurial passion.

Despite growing academic interest in social entrepreneurship, a critical challenge facing social ventures has yet to receive attention: how do social entrepreneurs communicate with their diverse groups of stakeholders? This topic is examined using an exploratory, partially-inductive study consisting of semi-structured interviews, ethnographic observation, and a critical review of the practitioner literature. The result is a framework explaining the role played by narratives and emotion in social entrepreneurship communication. The findings contribute to work on organizational narrative theory, new venture communication strategies, stakeholder evaluations of firms, and the marketing and entrepreneurship interface. Moreover, the study produces several practical implications for social entrepreneurs.

A book for the next generation of entrepreneurial leaders --
The evolution of entrepreneurship over the years has had an extraordinary impact on the cultural and economic landscape worldwide. While there will always be opportunities for improvement and innovation, the present entrepreneurial revolution has become a model for business people, educators, and policymakers around the globe. --
People in every nation have enormous entrepreneurial qualities and aspirations, and that spirit is finding its way tiny nearly all world markets. Entrepreneurship is exploding globally and affecting positive social and economic change. --
In our roles as student, teacher, researcher, observer, and participant in the revolution, we can honestly say that the global adoption of the entrepreneurial mind-set appears to be growing exponentially larger and faster. That mind-set, while informed by by new venture experiences, affects larger corporations and the not-for-profit world as well. In our assessment, we are at the dawn of a new age of entrepreneurial reasoning, equity creation, and philanthropy, whose impact in the coming years will dwarf what we experienced over the last century.

What will be our reaction by seeing tons of garbage located in the street? A corrupt government, a lazy municipality and a kam chor labor force! Did we ever think where it comes from, who is responsible for this? Yes, we are. The garbage that comes from our home, our office, restaurant, colleges is ultimately dumped into the street and remained uncollected for several weeks, sometimes for the month. The garbage scattered in the city gives a stinky smell affecting our health and daily activities. The developing country like Nepal is facing a waste management problem. Due to the lack of planning, long term vision and lack of awareness everyday waste is increasingly dumped in the street. My Garbage My Responsibility is social enterprise established in 2018 with an objective to manage garbage that comes from private offices, restaurant, schools, households etc. There are tons of garbage coming from the offices and household reaches at city with a hope Municipality will collect and dump in the dumping site, 24 km away from the city. Due to the poor management system of government, it cannot be collected for a week. Sometimes due to the strike of labor force, sometimes due to the unavailability of dumping site. Ultimately who are suffering, people who is producing wastage, people who is paying tax. Thus we are here to manage garbage of your office and home. Vision To create, to maintain clean, healthy and garbage free environment nearby you. Mission To utilize the organic solid wastes to prepare compost and to distribute to the local farmer. To collaborate with different enterprises to manages non-disposable wastes. To improve the waste management practice at the private institute and households. To create awareness about 3 R's through different campaigns and field experimentations.

Products, whether innovative or existing, are valueless to the society unless are brought out of the factories. They gain value only when information of the product is dispersed to those who can use or consume them. Marketing promotion strategy is a tactics used by the companies to disseminate information about the product to the perspective consumers and entice them to purchase their company's products. Marketing promotion is a combination of various efforts that an enterprise pursues to contribute to sales growth by creating awareness, inducing sales and eventually enhance repeat sales by customers, thereby creating brand loyalty. This paper is a systematic review of a wide range of research papers on marketing promotional strategy of start-up entrepreneurs and how it how it affects the consumer’s cognitive thinking and purchasing behaviour

The study was to assess the entrepreneurial future intention of student in three selected universities. Intention towards entrepreneurship was measured through three dimensions of
entrepreneurship, i.e. family business background, perceived desirability and perceived self efficacy. The sample consisted of 405 graduating class students, from which 135 students from
Hawassa University and 135 students from Dilla University and the remaining 135 students are from Arbaminch University were collected through a questionnaire. The results indicated that there is positive relationship between the dimensions of entrepreneurship and intention towards entrepreneurship among university students. Moreover, the two dimensions of entrepreneurship, i.e. family business background and perceived self-efficacy explain the variation on students’
intention to start a new venture.

Despite the scientific evidence on the positive effect of venture capital (VC) on portfolio firm performance, such evidence badly pulls up alongside the non-negligible number of entrepreneurial firms that receive an offer by a VC fund and choose to refuse it. We investigate the microeconomic determinants behind the missed realizations of VC investor-investee dyads by focusing on the Italian VC market, that represents an ideal test bed for our identification strategy. We investigate firm characteristics that lead entrepreneurs to refuse VC, which motivations are behind this choice and which is the impact on firm growth.

Scholars use the theoretical lens of bias to research various behavioral phenomena in
entrepreneurship. We assess this body of research, focusing on definitional issues and
relationships. Furthermore, we discuss how the study of bias in entrepreneurship can be
advanced, given the new development in related fields such as cognitive sciences. The
assessments and discussions help reveal as well as address tensions in the literature,
identify numerous research opportunities that may not be obvious by looking at previous
work individually, and contribute to how the theory of bias can further help to understand
entrepreneurship.

Creating new ventures is one of the most central topics to entrepreneurship and is a critical step from which many theories of management, organizational behavior, and strategic management build. Therefore, this review and proposed research agenda are relevant to not only entrepre-neurship scholars but also other management scholars who wish to challenge some of the implicit assumptions of their current streams of research and extend the boundaries of their current theories to earlier in the organization's life. Given that the last systematic review of the topic was published 16 years ago, and that the topic has evolved rapidly over this time, an overview and research outlook are long overdue. From our review, we inductively generated 10 subtopics: (a) lead founder, (b) founding team, (c) social relationships, (d) cognitions, (e) emergent organizing, (f) new-venture strategy, (g) organizational emergence, (h) new-venture legitimacy , (i) founder exit, and (j) entrepreneurial environment. These subtopics are then organized into three major stages of the entrepreneurial process: co-creating, organizing, and performing. Together, the framework provides a cohesive story of the past and a road map for future research on creating new ventures, focusing on the links connecting these subtopics.

The formation of entrepreneurial ecosystems is recognized as an activity that can produce economic development and community revitalization. Social entrepreneurship is also an activity that is receiving growing attention because of its potential for addressing social and economic problems. However, while scholars have focused on how the participants in entrepreneurial ecosystems, such as investors and support organizations, influence ecosystem functioning, it is not clear what role social entrepreneurs can play in entrepreneurial ecosystems. Nor is it known how the entrepreneurial ecosystems in which social entrepreneurs are located can influence the founding and operation of their ventures. In this conceptual paper, theory is proposed to explain the interrelationship between entrepreneurial ecosystems and social entrepreneurship. It is theorized that entrepreneurial ecosystems will influence the operations and effectiveness of social entrepreneurs through mechanisms such as the ecosystem’s diversity of resource providers, support infrastructure, entrepreneurial culture, and learning opportunities. In turn, social entrepreneurs can shape the entrepreneurial ecosystems in which they are situated by influencing the heterogeneity of ecosystem participants, garnering attention for the ecosystem, and increasing its attractiveness to stakeholders. Scholars examining entrepreneurial ecosystems have not studied the role of an increasingly important market actor: the social entrepreneur. At the same time, work on social entrepreneurship has not emphasized the community of social relations and cultural milieu in which social entrepreneurs found their ventures. The theory developed addresses both of these omissions and has important implications for practitioners focused on spurring entrepreneurial ecosystems and social entrepreneurship.

Entrepreneurial ecosystems are receiving growing attention from scholars, practitioners, and policy-makers in both developed and developing countries. Studies of this phenomenon have focused almost exclusively on ecosystems in large, urbanized regions and metropolitan areas, located primarily in developed economies. However, the prevalence of small cities across the globe and the increasing acknowledgment that entrepreneurship in small towns is a key determinant of their economic development and rejuvenation suggests that entrepreneurial ecosystems research would benefit from a broader lens of inquiry. This conceptual paper introduces the concept of small town entrepreneurial ecosystems, draws from a wide-ranging set of disciplines to delineate the ways in which small town ecosystems are similar to and different than their larger counterparts, and theorizes about several strategies small town entrepreneurial ecosystems use to overcome their limitations. The theory developed produces implications for scholars focused on entrepreneurial ecosystems, economic development, and emerging markets and suggests practical implications for policy-makers and development organizations seeking to improve the economic landscape of small cities.

The entry and growth of Tesla Motors has produced enormous change in the automotive industry. What lessons can alternative energy start-ups learn when considering entry into an established industry? Reviewing the innovation management literature, we examine the emergence of Tesla Motors and analyze its commercialization of electric vehicles through an in-depth case-study. Drawing on primary and secondary data we construct a performance trajectory depicting Tesla's entry into the automotive market, and demonstrate that Tesla Motors has not followed a disruptive innovation strategy. Instead, Tesla's commercialization strategy is explained through the lens of Architectural Innovation and the Attacker's Advantage. Implications are provided for new entrants.

Despite the ubiquity of small towns, the forces shaping entrepreneurship in cities of limited size, reach, and scope are unexamined. To address the lack of attention to small town entrepreneurship, a comparative-case study of two small towns (Newton Falls, Ohio and Geneva, Ohio) was conducted. The study examines how and to what extent entrepreneurial activity manifests in small towns and identifies the strategies and contextual forces that promote and hinder small town entrepreneurship. Findings reveal (a) a variety of entrepreneurial activities occur in small towns, (b) community members engage in market and community-based strategies to encourage entrepreneurship, and (c) there is an ecosystem of economic and community dynamics that spur and discourage entrepreneurial activity. The findings contribute to research on entrepreneurship and economic development in small towns and generate practical implications for policymakers and entrepreneurs.

Vibrant entrepreneurial ecosystems – systems of inter-related forces that promote and sustain regional entrepreneurship – are increasingly viewed as sources of innovation, economic development, and community revitalization. Regions with emerging, underdeveloped, or depressed economies are attempting to develop their nascent entrepreneurial ecosystems in the hopes of experiencing the positive benefits of entrepreneurial activity. For nascent entrepreneurial ecosystems to grow requires resources. However, it is not clear how nascent entrepreneurial ecosystems manage their resource dependencies and the tensions that exist between creating and attracting resources. The purpose of this paper is to propose a theory of nascent entrepreneurial ecosystem resource dependence.

This conceptual paper analyzes entrepreneurial ecosystems as meta-organizations and builds on resource dependence theory to explain how nascent ecosystems respond to environmental dependencies and their resource needs through internal and external strategies.

We explore two specific strategies used by nascent entrepreneurial ecosystems to manage resource dependence – bridging and buffering. We propose a positive relationship between the resource dependence of a nascent entrepreneurial ecosystem and its use of bridging and buffering activities. We also identify two ecosystem characteristics that influence the pursuit of bridging and buffering: ecosystem size and the presence of collaborative values. In addition, we theorize that resource dependence strategies influence a key, system-level characteristic of entrepreneurial ecosystems: resilience, the ecosystem’s ability to respond and adapt to internal and external disruptions.

The theory presented generates insights into how nascent entrepreneurial ecosystems create and obtain resources when ecosystems are unmunificent, resource-constrained, or underdeveloped. Our theorizing addresses which resource dependence strategy – buffering or bridging – has a stronger link to resource dependence (and resilience) and under what conditions these linkages occur. We generate insights for research on entrepreneurship in emerging and developed economies and produce practical implications for ecosystem participants, policy-makers, and economic development organizations.

New venture creation is a hot topic and different scholars tried to shed light on this fascinating research subject. Despite the vast body of existing literature, there is little consensus about which theoretical perspectives and theories are best suited for describing and explaining the phenomenon. One of the most controversial topics is that “whether this phenomenon could be considered as a process or not?” This paper presents the existing views and theories on new venture creation, and tries to answer the mentioned question. To do so, Moroz and Hindle’s (2012) distinguished views are used. Finally, the paper concludes with some suggestions and remarks. The main contribution of this paper is to criticize the existing perspectives and theories, to categorize them, and to present a more comprehensible view of the phenomenon.

Start-ups, often seen as sources of innovation and change, are prone to failure and accordingly they are attracting considerable attention not least from policy makers and Government officials. However, the various new venture creation studies that have emerged since the early 1980s lack cohesiveness, and the domain remains controversial. This article not only exposes the limitations of the existing body of understanding on the topic but attempts to develop a more comprehensive and comprehendible framework for start up (new venture) creation. To do so it uses the frameworks proposed by Whetten, and March and Smith to develop 11 propositions. The resultant model suggests that the creation of a start up involves the identification of an idea or opportunity by an entrepreneur who subsequently organizes a series of activities, mobilizes resources and creates competence using his/her networks in an environment in order to create value. It sheds light on the start-up (new venture) creatio...

Entrepreneurial ecosystems – the inter-connected set of organizing forces that produce and sustain regional entrepreneurial activity – are receiving heightened attention. Research finds that narratives about ecosystem participants discursively construct entrepreneurial ecosystems. However, studies do not emphasize ecosystem- and region-level narratives, do not focus on ecosystems in which narratives are contested, and, thus, do not examine how ecosystem narratives compete with other regional narratives. The purpose of this paper is to develop a theory that explains how narratives and entrepreneurial ecosystems emerge and change in response to existing regional narratives.

A longitudinal process model is proposed to explain how entrepreneurial ecosystem narratives emerge and compete with other regional narratives. To illustrate the phases of the model, archival data was collected from three entrepreneurial ecosystems (Warren and Youngstown, Ohio; Chattanooga, Tennessee) where new narratives have had to overcome entrenched economic and cultural narratives.

It is theorized that entrepreneurial ecosystems emerge, in part, through discourse. For an entrepreneurial ecosystem to develop, a narrative must take hold that allows participants to make sense of the new entrepreneurial activities and the changes to the region. A four-phase process model is presented to explain how entrepreneurial ecosystem narratives compete with other regional narratives and, particularly, negative economic narratives.

The theory developed in this paper contributes to research on entrepreneurial ecosystems and organizational narratives and generates practical implications for policymakers and entrepreneurs seeking to promote entrepreneurship as a tool for economic development.

Design thinking is a business practice that takes a meta-analytical approach at problem solving and organizational optimization. The concept of design is most often associated with artistic or creative endeavors, but with business design thinking, design is applied toward organizations in order to facilitate operational improvements. Design thinking is an ongoing process and is action-oriented. It is a dynamic approach that is constantly analyzing, questioning and modifying in order to recognize problems and create innovative solutions. Ultimately, business design thinking is about making organizations better through careful examination, creative deliberation and skillful execution (Brown 2008). In this paper we will explore business design thinking in depth. The different steps of design thinking will be analyzed and explained, and the overall design process will be mapped out so it can be more easily understood. We will then examine the ways in which design thinking can be effectively applied in

Tourism play a very vital role in the economic, social and cultural development of any region and it has a multiplying effect on the people of residing areas in terms of employment generation, wealth creation and socio-environmental awareness. Tourism provides opportunity to grow as micro and macro entrepreneurs of the region as well as world. The impact of tourism is transparent as it is mass activities and its impact can be seen easily at any destination or even through travelling. The carrying capacity, sustainable development and green technology are now the part of modern tourism infrastructure and super structure development which provides ample scope and opportunity to the local people to become an entrepreneur and enthusiasm to the government, NGO (Non Governmental Organisation) as well as private company to start new venture with local residents as a part of their CSR (Corporate Social Responsibility).

The impact of tourism on rural area and particularly on woman in India can’t be ignored and neglected. The best example of woman entrepreneur development and evolvement of other micro entrepreneurs is the state of Gujarat (India) where in the small village of “Kutchh” all the village persons have involved themselves in the business of tourism and created a role model for policy makers and practitioners. It has given a tremendous effect on the life style and has become a part of their livings. Tourism and Tourist both of them have influenced and motivated the rural people to become as micro entrepreneurs through the promotion of their Art & Craft, cuisines,  fairs,  festivals,  and  green  organic  farms.  The village  adoption  programme  of Department of Tourism (under Ministry of Tourism, Govt. of India) and concerned State Tourism Development Corporation  for the promotion of rural tourism is a very good step that should be appreciated in the direction of micro entrepreneurs developments and new venture creation opportunities in rural areas. The village adoption model should be appreciated as it generates
an essence of becoming entrepreneurs of own crafted thing and utilizing own skills and knowledge as motivational factors for creation of wealth and prosperity for own. And at the same time involves other local people in either suppliers of necessary and essential raw materials or even provides opportunities to work as a worker as well as joint partner.

Village is a unit of National integration and world formation in which we grow and survive. Therefore special attention should be given to the rural economic development and new venture creation as it is foundation of existence of any human beings of this fast moving world. It also provides basic needs for livelihood like food in direct way and materials for cloths and shelters in indirect form. The main objective behind this paper is to make aware regarding the long lasting impact of tourism activities on the rural economic development and to integrate it with new venture creation opportunities so that issues and problems related to the local communities could  be  solve  and  producer (farmers  who  feed  us  indirectly)  could  also  become  an entrepreneur. There is an urgent need of sound framework and executable policies. Taking help of NGOs and local people besides technical experts and forming a Steering Committee for Micro Entrepreneurs Developments (SCMED) would be the perhaps the best way to monitor and co-operate in this regard. Tourism is a combination of diversified activities and every aspect of this can be developed a business model. The nature of product of tourism is basically intangible that’s why creator of product can grow himself/herself as micro entrepreneur of his/her tourism business. For example, Dancers, Musicians, Folklorists, Handicrafts’ man, Farmers of Organic Farms, Traditional Cooks of local cuisines, all of these are respectively creators of their products in tourism and when they are selling it then they become micro entrepreneur of their own self-created product based business. The most important thing is that they need some help for the promotional activities to attract prospective (tourists/guests) consumers and here comes the role of venture and CSR.

Key words: Economy, Leakage, Linkage, Tourism, Micro Entrepreneurs, Rural, Venture

Start-ups, often seen as sources of innovation and change, are prone to failure and accordingly they are attracting considerable attention not least from policy makers and Government officials. However, the various new venture creation studies that have emerged since the early 1980s lack cohesiveness, and the domain remains controversial. This article not only exposes the limitations of the existing body of understanding on the topic but attempts to develop a more comprehensive and comprehendible framework for start up (new venture) creation. To do so it uses the frameworks proposed by Whetten, and March and Smith to develop 11 propositions. The resultant model suggests that the creation of a start up involves the identification of an idea or opportunity by an entrepreneur who subsequently organizes a series of activities, mobilizes resources and creates competence using his/her networks in an environment in order to create value. It sheds light on the start-up (new venture) creation process and has relevance for entrepreneurs, policy makers and researchers.

The contextual turn in entrepreneurship research has shifted scholars’ attention to the place-based forces that shape entrepreneurship in vibrant entrepreneurial ecosystems, such as Silicon Valley, Stockholm, and Bangalore. Studies find that an important component of ecosystems is the knowledge they contain about the entrepreneurship process. However, the critical questions of how entrepreneurs overcome challenges associated with acquiring tacit knowledge, how entrepreneurs leverage their ecosystems to organize knowledge, and what factors influence an ecosystem’s ability to serve as a knowledge repository remain unexamined. To formulate a theory explaining how entrepreneurs use their ecosystems to facilitate knowledge management and organizational learning, insights from group cognition are adapted to introduce the concept of entrepreneurial ecosystem transactive memory. It is theorized that ecosystem-level characteristics, including diversity, coherence, connectivity, prosociality, and interdependence, influence an ecosystem’s transactive memory structure and processes. By examining the linkages between ecosystem characteristics and transactive memory, a more nuanced understanding of the cognitive dynamics of entrepreneurial ecosystems is provided. The theoretical model charts a path for interdisciplinary research on knowledge management in entrepreneurial ecosystems and generates implications for practitioners.

Research shows intentions as the best predictor of behaviour or action, more so if the behaviour requires some unknown time lags to get it realised. This mixed methods research is conducted to explain what factors encourage or discourage entrepreneurship among undergraduates in Southsouth and Southeast Nigeria and to know whether the factors are the same across the two regions. It surveys 1,129 indigenous final-year undergraduates from 11 states, in 15 universities across 12 faculties and 68 departments in the two regions studied plus four focus groups of 42 participants. It uses a partial least squares structural equation modelling technique (PLS-SEM) to analyse the survey data. It finds the personal attitude construct as the strongest influence on the entrepreneurial intentions variable, followed by the perceived behavioural control construct. The next influence is the perceived barriers construct; it acts as a discouraging factor. The focus group interview results find that the undergraduates explained the factors that influence them as being transformational, affective, push, personal fulfilment motives and personality traits. Moreover, the results indicate that the undergraduates would more likely embrace entrepreneurship if courses were taught in a more practical or application-oriented approach than theory-oriented. Also, if relevant internships were introduced in their courses, entrepreneurship lecturers were experienced entrepreneurs, and universities had a strong collaboration with relevant industries too. The partial least squares multi-group analysis detected no significant differences in any of the 18 relationships hypothesised, based on the model paths. This result suggests that, conceptually or theoretically, the factors modelled as influencing the South-south and Southeast students toward entrepreneurship are fundamentally the same. Nevertheless, in practice as well as in the wider society, the pattern between the two regions might somewhat differ. The reason is that the participants in the focus group interviews consistently demonstrated that they observe and, therefore, perceive the people of Southeast Nigeria as exhibiting a more peculiar flair for entrepreneurial activities in practice. The participants offered various explanations for their position to include: apprenticeship, serial mentorship, crave for independence, early childhood introduction to business by family, and profit motives as the factors that they believe, are more likely to distinguish the Southeast people from their South-south counterparts in entrepreneurship pursuits. They believe, also, that graduates from the two regions would probably follow the same observed patterns of entrepreneurial behaviours. Thus, a major implication would be that in undertaking undergraduate entrepreneurship research, accommodating multi-logical approaches that also encourage views of the students could offer more useful solutions for policy on what students perceive would attract them toward entrepreneurship. iii TABLE OF CONTENTS ABSTRACT…………………………………………………………………………………………………………. ii TABLE OF CONTENTS………………………………………………………………………………………… iii ACKNOWLEDGEMENTS…………………………………………………………………………………….. vii LIST OF TABLES…………………………………………………………………………………………………. viii LIST OF FIGURES……………………………………………………………………………………………….. ix LIST OF ABBREVIATIONS……………………………………………………………………………………. x LIST OF APPENDICES…………………………………………………………………………………………. xii CHAPTER ONE: INTRODUCTION 1 1.1 Background to the study…………………………………………………………………………………………………. 1 1.2 1.3 Aim and objectives…………………………………………………………………………………………………………. Research questions…………………………………………………………………………………………………………. 7 8 1.4 4.2.3 Robinson's et al (1991) "entrepreneurial attitude orientation model"…………………………. 72 4.2.4 Ajzen's (1991) "theory of planned behaviour" (TPB)……………………………………………………. 74 4.2.5 Krueger and Carsrud's (1993) "intentional basic model"……………………………………………… 77 4.2.6 Krueger and Brazeal's (1994) "entrepreneurial potential" model………………………………… 78 4.2.7 Boyd and Vozikis' (1994) intention model……………………………………………………………………. 80 4.2.8 Davidsson's (1995) "economic-psychological model" of entrepreneurial intentions……. 81 4.2.9 Douglas and Shepherd's (2002) "maximization of expected utility" model………………….. 83 4.2.10 Elfving, Brännback and Carsrud's (2009) contextual model of entrepreneurial intentions……………………………………………………………………………………………………………………... 85 4.3 Conceptual framework on the factors that influence entrepreneurial intentions…………. 88 4.3.1 Justification of the conceptual framework and hypothesis formulation……………………….. 95 4.4 Review of related empirical literature on factors that influence entrepreneurial intentions……………………………………………………………………………………………………………………… 97 4.4.1 "Personal attitudes" (PA), "subjective norms" (SN), "perceived behavioural control" (PBC) and entrepreneurial intentions……………………………………………………………………………. 97 4.4.2 Personality traits and entrepreneurial intentions…………………………………………………………. 107 4.4.3 Entrepreneurial capabilities and entrepreneurial intentions…………………………………………. 110 4.4.4 Contextual factors and entrepreneurial intentions……………………………………………………….. 111 4.5 Summary of the literature review…………………………………………………………………………………. 113

Entrepreneurialism is a concept which affects individuals in a range of different ways (Jones et al 2014). In this paper the authors are interested in exploring how entrepreneurial activity can improve a person's propensity to create new ventures and how educational frameworks applied in a university context can be devised to specifically support this development. Building on previous work (Churchill and Lewis, 1983; Gartner, 1985; Draycott and Rae, 2011; Lackeus et al 2016), the Authors will explore a range of frameworks to identify elements which are useful and then develop these to propose a model which, they believe, will support the facilitation of experiential entrepreneurship education to show tangible results in the creation and growth (Blank and Dorf, 2010) of new ventures. The authors believe that this is important to increase discussion surrounding the development of experiential entrepreneurial education programmes (Jones et al 2014, Lackeus et al 2016), their impact...

Start-ups, often seen as sources of innovation and change, are prone to failure and accordingly they are attracting considerable attention not least from policy makers and Government officials. However, the various new venture creation studies that have emerged since the early 1980s lack cohesiveness, and the domain remains controversial. This article not only exposes the limitations of the existing body of understanding on the topic but attempts to develop a more comprehensive and comprehendible framework for start up (new venture) creation. To do so it uses the frameworks proposed by Whetten, and March and Smith to develop 11 propositions. The resultant model suggests that the creation of a start up involves the identification of an idea or opportunity by an entrepreneur who subsequently organizes a series of activities, mobilizes resources and creates competence using his/her networks in an environment in order to create value. It sheds light on the start-up (new venture) creation process and has relevance for entrepreneurs, policy makers and researchers.

Emerging economies are characterized by the presence of institutional voids which challenge and constrain the behavior of economic agents. In this paper we report on one set of agents, angel investors, in Malaysia, which investors fear is experiencing a middle-income trap whereby economic growth and new venture formation stalls due to persistent institutional voids. This research addresses this question through interviews with 19 Malaysian business angel investors in 2015, utilizing a mixed-methods approach. Results indicate that business angels in our sample generated strong returns, though they did find it a challenge to invest in and monitor new ventures in a highly uncertain and competitive environment where there is high political uncertainty, weak legal and financial support for investors and SMEs. In order to overcome weak institutional support, business angel investors develop informal institutions by co-investing and networking with family members and government officials. They also conduct careful due diligence before investing and closely monitor their investee companies after investing. This research provides several theory and practice contributions with respect to business-angel investing in emerging economies with weak formal institutional regimes.

The creation of new ventures is one of the most important economic issues of this time, all over the world. This course follows a double approach. The first approach is the sustainable entrepreneurship approach, dealing with the economic, social and ecological aspects of new ventures. The second approach is the life cycle of the firm approach, dealing with the changes of the firm and the entrepreneur during the life cycle of the firm.

VU Amsterdam Summer School offers interactive small-scale courses at Bachelor and Master level. Join us for either one or two sessions in July 2021! Students, PhD staff and professionals are all welcome to apply.