"For the past two years I have been the chair of the research committee of a multi-country survey effort known as the Global Entrepreneurship Monitor (GEM) project, which has begun to make headway in understanding how different types of entrepreneurship affect development. The starting point has been to distinguish “necessity entrepreneurship,” which is having to become an entrepreneur because you have no better option, from “opportunity entrepreneurship,” which is an active choice to start a new enterprise based on the perception that an unexploited or underexploited business opportunity exists. Analyzing data gathered by GEM researchers in 11 countries, Atilla Varga and I have found that effects on economic growth and development of necessity and opportunity entrepreneurship vary greatly. We found that necessity entrepreneurship has no effect on economic development while opportunity entrepreneurship has a positive and significant effect.

Analyzing data gathered by GEM researchers in 11 countries, Atilla Varga and I have found that effects on economic growth and development of necessity and opportunity entrepreneurship vary greatly. We found that necessity entrepreneurship has no effect on economic development while opportunity entrepreneurship has a positive and significant effect."

"In emerging-market countries, commercial institutions do not always develop sufficiently quickly or effectively to support ambitious entrepreneurs. How might intermediaries remedy these problems? We address this question by drawing on institutional literatures to develop the concept of "open system intermediaries." Our research design involves examining business incubators in emerging markets as a form of open system intermediary. Empirically, we examine the relative emphasis that business incubators in emerging-market countries place on developing markets versus developing specific businesses. The study further examines how private, government, academic, and non- governmental organization sponsorship of incubators influences the mix of services that incubators provide. In sum, this work contributes to our understanding of how, why, and when intermediaries emerge to address institutional failures."

"Although early-stage finance is critical to the growth of most ventures, it is even more important for social ventures as they face the challenges of balancing their social and commercial objectives. Drawing on institutional logics and signaling theory, this study uses a panel data set of 3,401 nascent social ventures to investigate the important role philanthropic grant funding plays in the organizational and financial development of social ventures. We find mixed results, with positive effects on employment and subsequent access to debt finance, but no effects on revenues and access to equity. Our findings connect these theories by suggesting philanthropic grants provide social ventures with flexibility to invest in human capital without pushing them to pursue short-term financial objectives, and that receiving a philanthropic grant provides a signal that is interpreted differently by debt and equity financiers. These findings are especially relevant as funders increasingly use grants to support social entrepreneurship."

"Why is high-growth entrepreneurship scarce in developing countries? Does this scarcity reflect firm capabilities constraints? We explore these questions using as a laboratory an accelerator in Colombia that selects participants using scores from randomly assigned judges and offers them training, advice, and visibility but no cash. Exploiting exogenous differences in judges' scoring generosity, we show that alleviating constraints to firm capabilities unlocks innovative entrepreneurs' potential but does not transform subpar ideas into high-growth firms. The results demonstrate that some high-potential entrepreneurs in developing economies face firm capabilities constraints and accelerators can help identify these entrepreneurs and boost their growth."

"Almost all firms in developing countries have fewer than ten workers, with a modal size of one. Are there potential high-growth entrepreneurs, and can public policy help identify them and facilitate their growth? A large-scale national business plan competition in Nigeria provides evidence on these questions. Random assignment of US$34 million in grants provided each winner with approximately US$50,000. Surveys tracking applicants over five years show that winning leads to greater firm entry, more survival, higher profits and sales, and higher employment, including increases of over 20 percentage points in the likelihood of a firm having ten or more workers."

"We conduct a business plan competition to test whether survey instruments or panel judges are able to identify the fastest growing firms. Participants submitted six- to eight-page business plans and defended them before a three- or four-judge panel. We surveyed applicants shortly after they applied and one and two years after the competition. We use follow-up surveys to construct measures of enterprise growth and baseline surveys and panel scores to construct measures of enterprise growth potential. We find that a measure of ability correlates strongly with future growth, but that the panel scores add to predictive power even after controlling for ability and other survey variables. The survey questions have more power to explain the variance in growth. Participants presenting before the panel were given a chance to win customized management training. Fourteen months after the training, we find no positive effect of the training on growth of the business."

"This whitepaper gathers the collective wisdom of the industry to formulate a first set of milestones and metrics. We strongly advocate that, in the near term, the framework illustrated in this document be used to evolve and institute a nationally accepted set of metrics and milestones for incubators in India. We also advocate that the funding organizations implement these metrics and milestones, not only to select the host partner but also to track, measure progress and to reward success. Some recommendations in this document may require policy review and modifications."

"This report brings new findings for consideration by the diverse audience of researchers, policymakers, educators, and practitioners. The ultimate aim is to highlight areas where there are still gaps, challenges, and opportunities, where women entrepreneurs have made significant progress, and how ecosystems influence and are influenced by women entrepreneurs. The findings of this report provide a foundation for guiding future research, policy decision-making, and design of initiatives and programs to enhance growth and development of women's entrepreneurship within context. Overall, this report demonstrates the value women entrepreneurs bring to societies worldwide and suggests areas for improvement in conditions that encourage and support their aspirations."

"Fifty economies participated in the GEM 2019 Adult Population Survey (APS), Over 150,000 individuals participated in extended interviews as part of the GEM research in 2019. This is the solid evidence base for the GEM findings that are presented in this report and summarized here. Despite this extensive GEM evidence base, there are at least as many questions as answers as a result of this year’s analysis. As usual, GEM has a plethora of insights and some of the newest and key findings are listed below. The report also contains a detailed entrepreneurial profile of each participating economy, accompanied by a policy roadmap and full data tables showing the value of each GEM entrepreneurial variable in each economy."

"This report charts the rise of social venture incubation with a particular focus on what can be learned by this burgeoning sector from programmes around the world. It is intended for people and organisations wanting to support social ventures either as policymakers, investors or people running incubation programmes, to ensure that ventures have the best support."