The Effects of Business Accelerators on Venture Performance: Evidence from Start-Up Chile

The Review of Financial Studies, September 2017, doi/10.1093/rfs/hhx103/4104437

Posted: 28 Aug 2015 Last revised: 2 Jan 2018

See all articles by Juanita Gonzalez-Uribe

Juanita Gonzalez-Uribe

London School of Economics & Political Science (LSE) - Department of Finance

Michael Leatherbee

Pontifical Catholic University of Chile - Department of Industrial Engineering

Date Written: February 15, 2017

Abstract

Do business accelerators affect new venture performance? We investigate this question in the context of Start-Up Chile, an ecosystem accelerator. We focus on two treatment conditions typically found in business accelerators: basic services of funding and coworking space, and additional entrepreneurship schooling. Using a regression discontinuity design, we show that schooling bundled with basic services can significantly increase new venture performance. In contrast, we find no evidence that basic services affect performance on their own. Our results are most relevant for ecosystem accelerators that attract young and early-stage businesses and suggest that entrepreneurial capital matters in new ventures.

Keywords: Accelerators, Entrepreneurship, Start-up, Entrepreneurial Capital, Managerial Capital

JEL Classification: G24, L26, M13

Suggested Citation

Gonzalez-Uribe, Juanita and Leatherbee, Michael, The Effects of Business Accelerators on Venture Performance: Evidence from Start-Up Chile (February 15, 2017). The Review of Financial Studies, September 2017, doi/10.1093/rfs/hhx103/4104437. Available at SSRN: https://ssrn.com/abstract=2651158 or http://dx.doi.org/10.2139/ssrn.2651158

Juanita Gonzalez-Uribe (Contact Author)

London School of Economics & Political Science (LSE) - Department of Finance ( email )

United Kingdom
+442074057686 (Phone)

Michael Leatherbee

Pontifical Catholic University of Chile - Department of Industrial Engineering ( email )

Av. Vicuna Mackenna 4860
Macul
Santiago
Chile

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