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The Role of Business Plan Competitions and Start-up Success Drivers in New Venture Development

Klante, Melanie LU and Thiex, Melanie Anneliese LU (2020) BUSN09 20201
Department of Business Administration
Abstract
In recent years, business plan competitions have become a popular tool for entrepreneurs to obtain assistance in their desire to start a company. Despite this support service, the start-up failure rate remains high. Therefore, this paper aims to increase the understanding of how business plan competitions impact new venture development. Based on prevalent theories of entrepreneurship, venture life-cycle, entrepreneurial ecosystem and business plan competition literature, the integrated framework aims to identify business plan outcomes, their utilisation in entrepreneurial endeavours and pre-venture success drivers through an exploratory case study. In line with this, twelve former Venture Cup South Sweden competition contestants from 2010... (More)
In recent years, business plan competitions have become a popular tool for entrepreneurs to obtain assistance in their desire to start a company. Despite this support service, the start-up failure rate remains high. Therefore, this paper aims to increase the understanding of how business plan competitions impact new venture development. Based on prevalent theories of entrepreneurship, venture life-cycle, entrepreneurial ecosystem and business plan competition literature, the integrated framework aims to identify business plan outcomes, their utilisation in entrepreneurial endeavours and pre-venture success drivers through an exploratory case study. In line with this, twelve former Venture Cup South Sweden competition contestants from 2010 to 2018 and four experts have been interviewed. The public nature of Venture Cup results in a diverse set of entrepreneurs’ experience levels, which pursue the competition for various reasons. This intention ultimately has an effect on the outcomes as well as on the applicability of the competition outcomes. Furthermore, different critical success factors are identified, which are perceived to contribute to the growth of a company. Based on the findings of this case study, a new framework, which considers different entrepreneurial experience levels and their impact on the business plan competition function and applied outcomes, is presented. (Less)
Please use this url to cite or link to this publication:
author
Klante, Melanie LU and Thiex, Melanie Anneliese LU
supervisor
organization
course
BUSN09 20201
year
type
H1 - Master's Degree (One Year)
subject
keywords
Business Plan Competition, Critical Success Factors, Entrepreneurial Learning
language
English
id
9019833
date added to LUP
2020-07-08 11:44:29
date last changed
2020-07-08 11:44:29
@misc{9019833,
  abstract     = {{In recent years, business plan competitions have become a popular tool for entrepreneurs to obtain assistance in their desire to start a company. Despite this support service, the start-up failure rate remains high. Therefore, this paper aims to increase the understanding of how business plan competitions impact new venture development. Based on prevalent theories of entrepreneurship, venture life-cycle, entrepreneurial ecosystem and business plan competition literature, the integrated framework aims to identify business plan outcomes, their utilisation in entrepreneurial endeavours and pre-venture success drivers through an exploratory case study. In line with this, twelve former Venture Cup South Sweden competition contestants from 2010 to 2018 and four experts have been interviewed. The public nature of Venture Cup results in a diverse set of entrepreneurs’ experience levels, which pursue the competition for various reasons. This intention ultimately has an effect on the outcomes as well as on the applicability of the competition outcomes. Furthermore, different critical success factors are identified, which are perceived to contribute to the growth of a company. Based on the findings of this case study, a new framework, which considers different entrepreneurial experience levels and their impact on the business plan competition function and applied outcomes, is presented.}},
  author       = {{Klante, Melanie and Thiex, Melanie Anneliese}},
  language     = {{eng}},
  note         = {{Student Paper}},
  title        = {{The Role of Business Plan Competitions and Start-up Success Drivers in New Venture Development}},
  year         = {{2020}},
}