Dealmakers in place: social capital connections in regional entrepreneurial economies

Abstract

in place: social capital connections in regional entrepreneurial economies, Regional Studies. This paper examines the internal anatomy of regional social capital and develops a role for dealmakers -individuals who provide active regional stewardship. An empirical analysis of twelve US regions finds great variation in the presence of dealmakers. The strong local presence of dealmakers is correlated with high start-up rates. The empirical results suggest that the local presence of dealmakers is more important for successful entrepreneurship than aggregate measures of regional entrepreneurial and investors network. Moreover, it is found that the presence of dealmakers is a better predictor of the status of the regional entrepreneurial economy. para el éxito empresarial que las medidas combinadas del empresariado regional y la red de inversores. Además, observamos que la presencia de negociadores es una mejor medida para predecir el estado de la economía regional empresarial.

Developing and governing entrepreneurial ecosystems: the structure of entrepreneurial support programs in Edinburgh, Scotland

“…Cultures that create a high social status for entrepreneurship and which normalise intensive networking help actors understand the value of participating in an entrepreneurial ecosystem. Recent work on dealmakers within entrepreneurial communities suggests that associating entrepreneurial support with civic pride is a powerful motivator for highly networked individuals to actively contribute to their ecosystem (Feldman and Zoller, 2012). As Feldman (Feldman, 2014 p. 4) argues: "a spirit of authenticity, engagement, and common purpose if the particular feature that differentiates successful [entrepreneurial] places."…”

Looking inside the spiky bits: a critical review and conceptualisation of entrepreneurial ecosystems

“…As well as being a serial entrepreneur, as a key dealmaker, he invested in more than 80 other firms in Ottawa . Feldman and Zoller (2012) show that firm births are closely associated with the prevalence of dealmakers, especially well-connected dealmakers like Matthews. Research across 12 US regions found dealmakers who use their connections to 'make things happen' exert a strong positive influence on recipients firms' employment and sales, but have no influence on the likelihood of them getting acquired (Kemeny et al, 2015, p2).…”

“…Some authors have used 'dealmakers' as a proxy for the evidence of dynamism within ecosystems (Napier and Hansen, 2011;Feldman and Zoller, 2012). However, this kind of single indicator analysis is susceptible to misinterpretation and could over-emphasis a single constituent actor within EEs.…”

“…A lack of big 'exits' reduces the chance for significant levels of entrepreneurial re-cycling. Often, dealmakers are limited in number and confined to particular sectors (Feldman and Zoller, 2012). Blockbuster entrepreneurship occurs in embryonic ecosystems, however, such big wins are likely to remain very rare occurrences and may not have the levels of embeddedness or traction within the local economy commonplace in more advanced EEs.…”

Collaboration and Critical Mass among Nascent Companies

“…A company's social capital is a measure of its relationships with its ecosystem [1,2]. Social capital correlates with entrepreneurial success when the startup is in an innovation cluster [3][4][5][6], and has been found to be more indicative of entrepreneurial success than intellectual property [7].…”