Does success come with practice?

: an overview of entrepreneurs’ background and new venture performance

Abstract

Although it is considered a controversial topic, the role of startup founders’ collective experience in the new venture performance has been largely explored in past research. Prior studies have produced mixed results, some found their experiences to be crucial to success, while others argue that other dimensions need to be taken into consideration. Using a sample of 45 Portuguese tech startups, this study shows that experience in similar industries and selfemployment work experience positively influence startup performance. Furthermore, the technical experience of founders and business development know-how affect their performance in early stages, while marketing and sales expertise impact in a latter phase. The education level does not exert a key influence on growth, but the existence of a mentor does have a positive impact. Having individuals with prior management and leadership experience within the founding team also results in an increase in performance, which is consistent with previous theories. Lastly, in contrast with the prevailing view in the literature, the results show that performance is not influenced by prior entrepreneurial experience. Both theoretical and practical implications arise from this study – success is greatly determined by the human capital of founders of new technology-based firms, however, multiple variables need to be analyzed in context to demonstrate a significant influence.

Date of Award	22 Jul 2016
Original language	English
Awarding Institution	Universidade Católica Portuguesa
Supervisor	Rute Xavier (Supervisor)