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Founder's human capital, external investment, and the survival of new high-technology ventures

Gimmon, Eli and Levie, Jonathan (2010) Founder's human capital, external investment, and the survival of new high-technology ventures. Research Policy, 39 (9). pp. 1214-1226. ISSN 0048-7333

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Abstract

The effect of founder characteristics in attracting external investment and enhancing survival of new high-technology ventures is explored using human capital theory and signalling theory. We test the effect of founder characteristics on external investment in and survival of new high-technology ventures by tracking a random sample of 193 high-technology start-ups, all participants in the Israeli Technology Incubator Program. Founder's business management expertise and academic status attracted external investment, but founder's general technological expertise did not. Founder's business management expertise and general technological expertise positively affected venture survival, but founder's academic status did not. Possible implications for entrepreneurs, investors, policy and further research are discussed.

Item type: Article
ID code: 28034
Keywords: technology entrepreneurship, human capital, investors, signals, Commerce, Strategy and Management, Management Science and Operations Research, Engineering(all), Management of Technology and Innovation
Subjects: Social Sciences > Commerce
Department: Strathclyde Business School > Hunter Centre For Entrepreneurship
Depositing user: Miss Carol Ann Balloch
Date Deposited: 13 Oct 2010 09:00
Last modified: 21 May 2015 12:40
URI: http://strathprints.strath.ac.uk/id/eprint/28034

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