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

Eli Gimmon, Jonathan Levie

Research output: Contribution to journalArticle

79 Citations (Scopus)

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.
LanguageEnglish
Pages1214-1226
Number of pages13
JournalResearch Policy
Volume39
Issue number9
DOIs
Publication statusPublished - Nov 2010

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Industry
High technology
Human capital
Venture
Expertise
Business management
Human capital theory
Incubator
Signaling theory
Investors
Entrepreneurs
Start-ups

Keywords

  • technology entrepreneurship
  • human capital
  • investors
  • signals

Cite this

Gimmon, Eli ; Levie, Jonathan. / Founder's human capital, external investment, and the survival of new high-technology ventures. In: Research Policy. 2010 ; Vol. 39, No. 9. pp. 1214-1226.
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Founder's human capital, external investment, and the survival of new high-technology ventures. / Gimmon, Eli; Levie, Jonathan.

In: Research Policy, Vol. 39, No. 9, 11.2010, p. 1214-1226.

Research output: Contribution to journalArticle

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