期刊
TECHNOLOGICAL FORECASTING AND SOCIAL CHANGE
卷 145, 期 -, 页码 24-35出版社
ELSEVIER SCIENCE INC
DOI: 10.1016/j.techfore.2019.04.022
关键词
Digital Entrepreneurship; Startup; Scaleup; New ventures; Angels; Venture Capitalist
Digital entrepreneurship highly relies on external sources of financing to foster growth. This study aims at investigating how angel groups and venture capital (VC) funds affect growth of digital new ventures in their startup and scaleup phase. To address this aim, we analyzed 372 investment rounds regarding 256 Italian-based new ventures. The key findings are fourfold. First, VC funds positively affect the growth of digital new ventures. Second, digital scaleups, in line with the overall sample of digital new ventures, show a linear path of growth positively correlated with VC funding. Third, the relationship between funding received and growth in digital startups follows an inverted U-shape - with the optimal level within our sample set at 300,000$. Finally, no evidence emerges on the angel groups contribution to the growth of digital new ventures in both startup and scaleup phase. These findings are hence discussed in the light of extant literature on venture financing as well as entrepreneurial bias literature, to provide insight for both researchers and practitioners in digital entrepreneurship.
作者
我是这篇论文的作者
点击您的名字以认领此论文并将其添加到您的个人资料中。
推荐
暂无数据