Different outcomes for different founders? Local organizational sponsorship and entrepreneurial finance

Paige Clayton ()
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Paige Clayton: Georgia Institute of Technology

Small Business Economics, 2024, vol. 62, issue 1, No 2, 23-62

Abstract: Abstract While the literature on entrepreneurial support organizations (ESOs) proliferates, we still do not understand whether local ESOs benefit some founders more than others. Drawing on organizational sponsorship and inclusive ecosystems literatures, this paper empirically examines whether founder characteristics of gender, immigrant, and racial minority group membership moderate the relationship between participation in different types of ESO services (incubator, mentoring, and education programs) and funding received from state, federal, and venture capital (VC) sources. Relying on a detailed database of life sciences firms founded in North Carolina’s Research Triangle region, the paper uncovers how funding outcomes differ depending on the funding source and the moderating ESO and founder traits. The paper concludes with practical implications for how women, immigrant, and minority founders may be better supported by ESOs for broader, inclusive ecosystem building.

Keywords: Entrepreneurial support organization; Organizational sponsorship; Woman founder; Immigrant founder; Minority founder; Inclusive entrepreneurial ecosystem (search for similar items in EconPapers)
JEL-codes: G24 J15 J16 L26 M13 R58 (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1007/s11187-023-00753-7

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