The dynamics of entrepreneurial careers in high-tech ventures: experience, education, and exit

  • We investigate the career dynamics of high-tech entrepreneurs by analyzing the exit choice of entrepreneurs: to found another firm, to become dependently employed, or to act as a business angel. Our detailed data resting on the CrunchBase online database indicate that founders stick with entrepreneurship as a serial entrepreneur or as an angel investor only in cases where the founder (1) had experience either in founding other startups or working for a startup, (2) had a ‘jack-of-all-trades’ education, or (3) achieved substantial financial success upon a venture capital exit transaction.

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Author:Douglas J. CummingORCiDGND, Uwe WalzORCiDGND, Jochen Christian Werth
Parent Title (English):SAFE working paper series ; No. 122
Series (Serial Number):SAFE working paper (122)
Place of publication:Frankfurt am Main
Document Type:Working Paper
Date of Publication (online):2016/01/15
Date of first Publication:2016/01/15
Publishing Institution:Universitätsbibliothek Johann Christian Senckenberg
Release Date:2016/02/02
Tag:angel finance; entrepreneurial spawning; entrepreneurship; exit; venture capital
Issue:August 19, 2015
Page Number:36
Institutes:Wirtschaftswissenschaften / Wirtschaftswissenschaften
Wissenschaftliche Zentren und koordinierte Programme / House of Finance (HoF)
Wissenschaftliche Zentren und koordinierte Programme / Center for Financial Studies (CFS)
Wissenschaftliche Zentren und koordinierte Programme / Sustainable Architecture for Finance in Europe (SAFE)
Dewey Decimal Classification:3 Sozialwissenschaften / 33 Wirtschaft / 330 Wirtschaft
Licence (German):License LogoDeutsches Urheberrecht