The impact of storytelling in entrepreneurial resource acquisition

Abstract

This thesis explores the role of storytelling in entrepreneurial resource acquisition, particularly within the B2B SaaS startup sector. By examining how narrative techniques influence venture capital decision-making, the study demonstrates storytelling's effectiveness in reducing information asymmetry and building investor confidence, while enabling founders to secure current or future investments for their ventures.. The study employs a qualitative methodology, including semi-structured interviews with venture capitalists. It demonstrates that engaging narratives assist entrepreneurs in attracting attention, establishing trustworthiness, and successfully conveying their vision. It is essential to have a well-rounded account that combines emotional appeal with factual facts, particularly at the first phases of fundraising when there may be little quantitative proof available. The research emphasizes the significance of authenticity and strategic use of personal narratives to augment persuasiveness and foster trust. The results indicate that narrative undergoes changes across the investment process, first captivating investors on an emotional level and subsequently need reliable facts and strategic clarity as initiatives progress. Mastering storytelling is shown as a significant asset for entrepreneurs to enhance their fundraising endeavors, distinguish themselves in competitive marketplaces, and maintain investor connections.

Date of Award	24 Oct 2024
Original language	English
Awarding Institution	Universidade Católica Portuguesa
Supervisor	Klaus Marhold (Supervisor)