Attract, Select, Retain: A qualitative study on how startup accelerators attract, select and retain mentors that support the development of the Entrepreneurial Ecosystem
(2022) BUSN09 20221Department of Business Administration
- Abstract
- Given the rise of new startups and the challenges amplified by events like the Covid-19, it is critical to address the notion of the Entrepreneurial Ecosystem which, in turn, facilitates the development of new ventures. One of the actors within this ecosystem is startup accelerators, which provide networking opportunities, financial and mentoring assistance to new ventures. Previous research on accelerators has focused on the influence they have on the startups, and the design of such programs, with mentoring being one of the key components. Mentoring does not only reflect the quality of accelerators but also contributes to the development of startups by providing them with knowledge-based resources. However, little is known about how... (More)
- Given the rise of new startups and the challenges amplified by events like the Covid-19, it is critical to address the notion of the Entrepreneurial Ecosystem which, in turn, facilitates the development of new ventures. One of the actors within this ecosystem is startup accelerators, which provide networking opportunities, financial and mentoring assistance to new ventures. Previous research on accelerators has focused on the influence they have on the startups, and the design of such programs, with mentoring being one of the key components. Mentoring does not only reflect the quality of accelerators but also contributes to the development of startups by providing them with knowledge-based resources. However, little is known about how accelerators recruit and retain the best mentors and, as a result, the best startups. Thus, this thesis aims to answer the question: how do startup accelerators attract, select, and retain mentors that support the development of startups within the Entrepreneurial Ecosystem?
The insights were gathered via semi-structured interviews from five startup accelerators in Sweden, Denmark, and The Netherlands. The empirical findings revealed that mentors are primarily discovered through networking, yet finding expert mentors outside of the Entrepreneurial Ecosystem is challenging. Accelerators also commented that they direct varied efforts towards motivating mentors to join their programs. The empirical findings disclosed that
the selection process can be categorized into: structured, unstructured, and feedback-based, with professional experience being the key selection criteria. Concerning the retention of mentors, the findings revealed it does not represent a challenge for accelerators due to the novelty of the programs and the high intrinsic motivation of the mentors to participate in such programs. From a practical point of view, the obtained results can not only encourage accelerators' managers to improve their mentor recruitment process but can also help startups to discern whether or not to join accelerators. From a theoretical point of view, this study introduces new insights that enrich the existing literature on startup accelerators and mentoring within these programs, by providing a general understanding of how startup accelerators attract, select and retain their mentors. (Less)
Please use this url to cite or link to this publication:
http://lup.lub.lu.se/student-papers/record/9083395
- author
- Ochoa Chumaña, Valeria Andrea LU and Kaminskas, Kasparas Antanas LU
- supervisor
- organization
- course
- BUSN09 20221
- year
- 2022
- type
- H1 - Master's Degree (One Year)
- subject
- keywords
- Entrepreneurial Ecosystem, Startup Accelerators, Mentoring, Recruitment, and Retention of Mentors
- language
- English
- id
- 9083395
- date added to LUP
- 2022-07-01 15:35:22
- date last changed
- 2022-07-01 15:35:22
@misc{9083395,
abstract = {{Given the rise of new startups and the challenges amplified by events like the Covid-19, it is critical to address the notion of the Entrepreneurial Ecosystem which, in turn, facilitates the development of new ventures. One of the actors within this ecosystem is startup accelerators, which provide networking opportunities, financial and mentoring assistance to new ventures. Previous research on accelerators has focused on the influence they have on the startups, and the design of such programs, with mentoring being one of the key components. Mentoring does not only reflect the quality of accelerators but also contributes to the development of startups by providing them with knowledge-based resources. However, little is known about how accelerators recruit and retain the best mentors and, as a result, the best startups. Thus, this thesis aims to answer the question: how do startup accelerators attract, select, and retain mentors that support the development of startups within the Entrepreneurial Ecosystem?
The insights were gathered via semi-structured interviews from five startup accelerators in Sweden, Denmark, and The Netherlands. The empirical findings revealed that mentors are primarily discovered through networking, yet finding expert mentors outside of the Entrepreneurial Ecosystem is challenging. Accelerators also commented that they direct varied efforts towards motivating mentors to join their programs. The empirical findings disclosed that
the selection process can be categorized into: structured, unstructured, and feedback-based, with professional experience being the key selection criteria. Concerning the retention of mentors, the findings revealed it does not represent a challenge for accelerators due to the novelty of the programs and the high intrinsic motivation of the mentors to participate in such programs. From a practical point of view, the obtained results can not only encourage accelerators' managers to improve their mentor recruitment process but can also help startups to discern whether or not to join accelerators. From a theoretical point of view, this study introduces new insights that enrich the existing literature on startup accelerators and mentoring within these programs, by providing a general understanding of how startup accelerators attract, select and retain their mentors.}},
author = {{Ochoa Chumaña, Valeria Andrea and Kaminskas, Kasparas Antanas}},
language = {{eng}},
note = {{Student Paper}},
title = {{Attract, Select, Retain: A qualitative study on how startup accelerators attract, select and retain mentors that support the development of the Entrepreneurial Ecosystem}},
year = {{2022}},
}