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Article

Martin Obschonka and Christian Fisch

Advances in Artificial Intelligence (AI) are intensively shaping businesses and the economy as a whole, and AI-related research is exploding in many domains of business and management research. In contrast, AI has received relatively little attention within the domain of entrepreneurship research, while many entrepreneurship scholars agree that AI will likely shape entrepreneurship research in deep, disruptive ways. When summarizing both the existing entrepreneurship literature on AI and potential avenues for future research, the growing relevance of AI for entrepreneurship research manifests itself along two dimensions. First, AI applications in the real world establish a distinct research topic (e.g., whether and how entrepreneurs and entrepreneurial ventures use and develop AI-based technologies, or how AI can function as an external enabler that generates and enhances entrepreneurial outcomes). In other words, AI is changing the research object in entrepreneurship research. The second dimension refers to drawing on AI-based research methods, such as big data techniques or AI-based forecasting methods. Such AI-based methods open several avenues for researchers to gain new, influential insights into entrepreneurs and entrepreneurial ventures that are more difficult to assess using traditional methods. In other words, AI is changing the research methods. Given that, so far, human intelligence could not fully uncover and comprehend the secrets behind the entrepreneurial process that is so deeply embedded in uncertainty and opportunity, AI-supported research methods might achieve new breakthrough discoveries. We conclude that the field needs to embrace AI as a topic and research method more enthusiastically while maintaining the essential research standards and scientific rigor that guarantee the field’s well-being, reputation, and impact.

Article

In the early 1990s business creation was receiving a great deal of attention after it was clear that new firms were a major source of job creation. There was not, however, reliable data on the prevalence of persons participating in firm creation, what they would do to implement new ventures, or the proportion of start-up efforts that became profitable businesses. This hiatus led to the development of longitudinal studies of the entrepreneurial process; 14 projects have now been implemented in 12 countries. The Panel Study of Entrepreneurial Dynamics (PSED) protocol was designed to provide estimates of the prevalence of individuals involved in business creation and the presence of pre-profit, start-up ventures; data on the major activities undertaken to implement a new firm; and track the proportion that completed the transition from start-up to profitable new firm. A number of challenges were involved in implementing the research program, including the development of efficient procedures for identifying representative samples of nascent entrepreneurs and criteria for determining the dates of entry into the start-up process, the transition to a profitable business, and disengagement from the initiative. Data collection is a three-stage process. The initial stage is identifying nascent entrepreneurs in a representative sample of adults. The second are detailed interviews on the start-up team and activity related to creating a new venture. The third stage is follow-up interviews completed to determine the outcome of the start-up efforts. A large number of scholars have been involved in development of the interviews and the PSED data sets have considerable information on the perspectives, activities, and strategies of those involved in the start-up process. Since the initial data sets were made available 15 years ago, there has been considerable research utilizing PSED data sets. One major finding, however, is that the firm creation process is much more diverse and complicated than had been expected. There are substantial research opportunities to be explored. A review of the major features of the PSED protocol and a summary of the existing data sets provides background that will facilitate additional analysis of the firm creation process. Four data sets (Australia, Sweden, and U.S. PSED I & II) are now in the public domain. Critical features of the start-up process have been consolidated and harmonized in a five-cohort, four country data set which is also available.