In this article, empirical research on post-investment activities of business angels is reviewed and conceptualized as five distinct governance processes: boundary spanning, structuring, leadership, doing, and monitoring. These processes have the potential to reduce the exposure of business angels to relational risk and market risk. The identification of these governance processes also contributes towards understanding the social aspect of business angels’ post investment involvement. In particular, it is shown how the recognition of the cognitive/institutional dimension opens up for new questions about post-investment involvement. Finally, it is proposed that venture performance can be enhanced in practice if business angels and venture members develop skills that are connected to the governance processes.
This article examines the differences and features displayed by business angels (BAs), depending on the extent of their involvement with, and support for, the start-ups they finance measured by expertise, experience and contacts. With a sample of 293 Spanish BAs, using data obtained from the Global Entrepreneurship Monitor (GEM) survey, our results indicate that investors who develop more rigorous screening processes in the pre-investment process and hold regular meetings with founder teams are more likely to become High Value-Added Business Angels (HVBAs). Accordingly, the ability of BAs to transfer so-called ‘smart capital’ is conditioned by the levels of screening and assessment applied at the pre-investment stage in terms of both the quality of projects and founder teams and the extent to which the expectations and profiles of the two parties match.
With over 10 years of active involvement and experience, ANDE is committed to further deepening our role in the entrepreneurship and development ecosystem. Our updated global strategy, which informs ANDE’s global and regional work for the coming years, aligns with the United Nations’ Sustainable Development Goals (SDGs), specifically focusing efforts on three urgent issues: decent work and economic growth, gender equality, and climate and environmental action. This brief focuses on decent work and economic growth, for India. It has been developed in partnership with ANDE Members Upaya Social Ventures and Global Alliance for Mass Entrepreneurship (GAME). The brief highlights the current status quo of how small & growing businesses are contributing to creation of decent jobs and outlines strategies for collaborative action to strengthen the ecosystem.
"Os empreendedores nas economias em desenvolvimento são vitais para enfrentar as mudanças climáticas e promover o desenvolvimento sustentável e resiliente. Os países em desenvolvimento sofrerão alguns dos piores impactos climáticos. E também têm um enorme potencial para encorajar a mitigação e adaptação nos níveis local e regional. No entanto, os empreendedores nas economias em desenvolvimento enfrentam desafios e barreiras distintos quando se trata de abordar as mudanças climáticas. Este relatório pretende servir como uma visão geral da literatura atual sobre a interseção entre empreendedores e ação climática, bem como um chamado à ação."
"Nos últimos anos, poucas pesquisas têm focado em investimentos de impacto na América Latina apesar de comunidades crescentes e ativas de investidores de impacto estarem presentes em muitos dos países da região. Este relatório representa um passo em direção ao preenchimento desta lacuna de conhecimento, oferecendo um panorama do setor de investimentos de impacto na América Latina. A primeira parte do relatório traz uma análise regional de tendências gerais de captação de fundos, operações e saídas, com enfoque especial no desenvolvimento de potenciais empreendimentos, assistência técnica, mensuração de impacto, talentos e gênero. Após esse resumo, encontram-se análises aprofundadas sobre investimentos de impacto em três mercados-chave nos quais essa indústria se encontra mais desenvolvida: Brasil, Colômbia e México."
This paper is part of the Compendium of Evidence on the Effectiveness of Innovation Policy Intervention. This paper examines publicly supported policies for entrepreneurship development. Entrepreneurship policies are directed to encouraging socially and economically productive activities by individuals acting independently in business. Their principal objective is to increase a level of entrepreneurial activity which is considered to be below the social optimum. Policies may be implemented directly to address entrepreneurs’ needs e.g. business advice programmes or through broadcast methods such as education policy. We have attempted to locate and focus on evaluations that reported on additionality / net effect or that use methods of causal inference to
determine the effectiveness and impacts of policy. While policies and programmes for entrepreneurship can be simplistically modelled as a series of inputs beginning with cultural change followed by general and then more specific skill development, it is hard nevertheless to assess impact or trace causality because of the difficulty of defining discrete units of input, the presence of confounding factors and the length of time over which effects can build.
Based on a review of existing literature, this paper discusses to what extent and how SMEs can
deliver green and inclusive growth. The OECD defines green growth as aligning economic growth and environmental objectives. Specifically, it involves transitioning to a resource-efficient, low carbon economy and preserving environmental resources while seizing the economic opportunities that this transition generates (OECD, 2015). Similarly, the World Bank defines green growth as “economic growth that is environmental sustainable.” Put it more concretely, it means “enabling developing countries to achieve robust growth without locking themselves into unsustainable patterns” (World Bank, 2012). Meanwhile, inclusive growth involves raising “societies’ welfare or living standards broadly defined.” It is a multidimensional measure of growth and includes both income-related measures of well-being and non-income elements such as health and education. Inclusive growth also emphasizes the question of distribution; that is, how are aggregate changes in measures of growth distributed across households and individuals (Boarini, Murtin and Schreyer, 2015)? Simply, green and inclusive growth involves a transition to an eco-friendly, low-carbon economy and simultaneously, broad improvements in societal welfare. Thus, the paper is concerned with discussing to what extent greening SMEs delivers widespread societal welfare gains."
"The purpose of this paper is to investigate the feasibility of the incubator and accelerator approaches towards climate technology entrepreneurship in developing countries. Because an accelerator is a specific type of new venture incubator, this paper will also more broadly consider the suitability of incubators and note the recent emergence of hybrid forms of incubator-accelerators."
"Bangkok is the vibrant capital city of Thailand, known for being a popular tourist destination. The city’s population, which accounts for 15% of the country’s population, and its significant urban sprawl make it the country’s largest and a critical part of the national economy. ANDE identified and collected data on 267 ecosystem players actively supporting entrepreneurs and small businesses in Bangkok."
"The concept of entrepreneurial ecosystems has been used as a framework to explain entrepreneurial activities within regions and industrial sectors. Despite the usefulness of this approach, the concept is undertheorized, especially with regard to the evolution of entrepreneurial ecosystems. The current literature is lacking a theoretical foundation that addresses the development and change of entrepreneurial ecosystems over time and does not consider the inherent dynamics of entrepreneurial ecosystems that lead to their birth,
growth, maturity, decline, and re-emergence. Taking an industry lifecycle perspective, this paper addresses this research gap by elaborating a dynamic entrepreneurial ecosystem lifecycle model. We propose that an ecosystem transitions from an entrepreneurial ecosystem, with a focus on new firm creation, towards a business ecosystem, with a core focus on the internal commercialization of knowledge, i.e., intrapreneurial activities, and vice versa. Our dynamic model thus captures the oscillation that occurs among entrepreneurs and intrapreneurs through the different phases of an ecosystem’s lifecycle. Our dynamic lifecycle model may thus serve as a starting point for future empirical studies focusing on ecosystems and provide the basis for a further understanding of the interrelatedness between and coexistence of new and incumbent firms."