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Abstract:
Marketing is considered to be of utmost importance for the success of new ventures. Therefore, research on entrepreneurial marketing has increased considerably since the late 1980s. Its findings are varied and vibrant, yet also large and extremely fragmented, and a comprehensive theory of entrepreneurial marketing is still lacking. This situation proves to be a major hurdle for further advances, as the status quo of research cannot be accessed without major efforts. To help researchers and lecturers synthesize the growing body of knowledge, this paper brings together and reviews important research findings in entrepreneurial marketing. Thus, the paper creates a much needed map of the field, making this highly relevant topic readily accessible. Furthermore, the paper provides directions for future research, showing that many key questions of this field (e.g., various strategies and tactics of low-cost marketing) must be explored more thoroughly.

Marketing, Entrepreneurship, New Ventures

Abstract:
The start-up team plays a key role in venture capitalists' evaluations of venture proposals. Our findings go beyond existing research, first by providing a detailed exploration of VCs' team evaluation criteria, and second by investigating the moderator variable of VC experience. Our results reveal utility trade-offs between team characteristics and thus provide answers to questions such as "What strength does it take to compensate for a weakness in characteristic A?" Moreover, our analysis reveals that novice VCs tend to focus on the qualifications of individual team members, while experienced VCs focus more on team cohesion. Data was obtained in a conjoint experiment with 51 professionals in VC firms and analyzed using discrete choice econometric models.

venture teams, conjoint analysis, team characteristics

Abstract:
The start-up team plays a key role in venture capitalists' evaluations of venture proposals. Our findings go beyond existing research, first by providing a detailed exploration of VCs' team evaluation criteria, and second by investigating the moderator variable of VC experience. Our results reveal utility trade-offs between team characteristics and thus provide answers to questions such as What strength does it take to compensate for a weakness in characteristic A? Moreover, our analysis reveals that novice VCs tend to focus on the qualifications of individual team members, while experienced VCs focus more on team cohesion. Data were obtained in a conjoint experiment with 51 professionals in VC firms and analyzed using discrete choice econometric models.

Abstract:
An important and intriguing aspect of entrepreneurship is the formation of new ventures in the domain of open source software (OSS). Previous research on these ventures has primarily looked at the design of business models, yet has neglected other key questions relating to the management of these firms, despite clear indications that some existing insights on venture management cannot be applied to new ventures in OSS. The purpose of this paper is to explore how three key challenges of venture management - the liabilities of newness and smallness of start-ups and market entry barriers - affect new ventures in OSS. Based on empirical data from interviews and a large scale survey we find that many of the liabilities that are typically discussed in the entrepreneurship literature are much less of a challenge for new ventures in OSS. Our findings have interesting implications for the emerging theory on e-entrepreneurship, and for entrepreneurs considering to exploit business opportunities in OSS, and more generally business opportunities based on open innovations.

Entrepreneurship, Linux, Open Source Software, Innovation, liabilities of newness, liabilities of smallness