Angles on angels: Financing technology-based ventures - a historical perspective

Freear, John; Sohl, Jeffrey; Wetzel, William E.

doi:10.1080/1369106022000024923

Cited by 101 publications

(45 citation statements)

References 24 publications

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“…For example, Maula et al, (2005) find that individuals who have business ownership experience, believe they have the skills to start a business, are personally acquainted with an entrepreneur and are male are more likely to make informal investments. In parallel, studies consistently report that informal investors tend to have some type of entrepreneurial experience (Sullivan, 1991;Landström, 1998;Freear et al, 2002;Cowling et al, 2003). This suggests that experiences from an entrepreneurial career have some impact on the decision to invest informally.…”

Section: Literature Reviewmentioning

confidence: 99%

“…Individuals' demographic and personal context features, such as sex, age, education, income, working status, and entrepreneurial awareness have been found to be important drivers of the decision to invest in others' businesses (Maula et al, 2005;Szerb et al, 2007). Of particular interest is the consistent finding that informal investors tend to have personal experience as entrepreneurs and business owners (Freear et al, 2002;Cowling et al, 2003). For the purposes of this study, we are interested only in those individuals with ownership experience and do not include individuals with management, but not ownership, experience.…”

Section: Introductionmentioning

confidence: 99%

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Seeding New Ventures - Green Thumbs and Fertile Fields: Individual and Environmental Drivers of Informal Investment

2007

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in EconStor may

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Section: Literature Reviewmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Seeding New Ventures - Green Thumbs and Fertile Fields: Individual and Environmental Drivers of Informal Investment

2007

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“…are discussed. In addition to these, the share and ratio of the angel investment within other kinds of the investments in which countries the subject matter are of the studies, the behaviors of the angel investors, sex differences, sectoral distributions and cultural variations are addressed (Wetzel, 1982, Wetzel, 1983, Mason and Harrison, 1997, Prowse, 1998, ACS et al., 1998, Sohl, 1999, Liu, 2000, Mason and Harrison, 2002a, Mason and Harrison, 2002b, Freear et al., 2002, Holaday et al., 2003, Sohl, 2003a, Sohl, 2003b, Mason and Stark, 2004, Sohl, 2006, Harrison and Mason, 2007, Ibrahim, 2008, Sohl, 2008, Wong et al, 2009, Shane, 2012.…”

Section: Angel Investmentsmentioning

confidence: 99%

"Angel Investors" in Entrepreneurship: An Assessment on Turkey Model

Tiftik¹,

Zincirkıran²

2014

isader

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Since the subject of angel investors is a new concept for the researches of our country there is little if any in Turkey regarding of scientific research. As well as any quantitative research not exist on the field, the searches carried out are discussed as qualitative and literature study. The concept is ranked among the titles such as business angels, angel capital, angel investment, angel financing in the international literature.The search involves the entrepreneurship concept, the study results hereof in our country, the literature about angel investment and the studies carried out in other countries regarding of the subject matter. In consequences of the searches, the subject discussed from a different point of view and headed by the literature offers a number of suggestions and advices to entrepreneurships, the whole parts modeled by angel investment and researches.

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“…High technology based firms are an important source of employment creation, economic growth and technological innovation (Colombo et al 2010;Freear, Sohl, and Wetzel 2002;North, Baldock, and Ullah 2013;Rasmussen and Sørheim 2012). Central to the development of a high technology small firm sector is a considerable level of start-up activity and new firm formation.…”

Section: Introductionmentioning

confidence: 99%

Seeding the cloud: financial bootstrapping in the computer software sector

Bhaird

Lynn

2015

Venture Capital

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Seeding the cloud: Financial bootstrapping in the computer software sector.This study investigates resourcing of computer software companies that have adopted cloud computing for the development and delivery of application software. Use of this innovative technology potentially impacts firm financing because the initial infrastructure investment requirement is much lower than for packaged software, lead time to market is shorter, and cloud computing supports instant scalability. We test these predictions by conducting in-depth interviews with founders of 18 independently owned nascent enterprises, of which three quarters have adopted cloud computing. We identify particular bootstrapping methods used by start-ups in the computer software sector. Cloud computing enables firms to develop and launch products with minimal resources, reducing barriers to entry, with consequent increased competition. The primary business bootstrapping technique is foregoing wages, supplemented by small amounts of grant funding. Customers are a source of knowledge and expertise for product development, which occurs in an iterative process. Product bootstrapping techniques have changed in response to technological innovation, although methods to acquire tangible assets are identical over time. Astutely applied, financial bootstrapping is a resource management strategy essential to the growth and survival of high technology firms.Keywords: software industry; bootstrapping; cloud computing; social networks; private equity; business angels; disruptive innovation IntroductionHigh technology based firms are an important source of employment creation, economic growth and technological innovation (Colombo et al. 2010;Freear, Sohl, and Wetzel 2002;North, Baldock, and Ullah 2013;Rasmussen and Sørheim 2012). Central to the development of a high technology small firm sector is a considerable level of start-up activity and new firm formation. A barrier to this expansion, however, is the ability of firm founders to acquire adequate finance for their nascent ventures (Basu and Parker 2001;North, Baldock, and Ekanem 2010). This is particularly evident for introduction of technological innovation for new firms in the computer software sector.We contextualise our findings in relation to the literature by comparing bootstrapping techniques used by firms in our sample with those used by computer software firms studied by Wetzel (1995), andGirling (2004).We address the dearth in the literature identified by Grichnik et al. (2014) Resourcing implications for software firms adopting cloud computingCloud computing refers to applications delivered as services over the internet, and the hardware and systems software in datacentres that provide those services (Armbrust et al. 2009). Thus, cloud computing may be conceptualised as a combination of three layers of abstraction: software-as-a-service (SaaS), platform-as-a-service (PaaS), and infrastructure-as-a-service (IaaS) (Weinhardt et al, 2009, Vaquero et al, 2008. The first layer is the focus of our study, and ...

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Angles on angels: Financing technology-based ventures - a historical perspective

Cited by 101 publications

References 24 publications

Seeding New Ventures - Green Thumbs and Fertile Fields: Individual and Environmental Drivers of Informal Investment

Seeding New Ventures - Green Thumbs and Fertile Fields: Individual and Environmental Drivers of Informal Investment

"Angel Investors" in Entrepreneurship: An Assessment on Turkey Model

Seeding the cloud: financial bootstrapping in the computer software sector

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