"Impact-oriented accelerators, a relatively new type of entrepreneur support program, are proliferating as practitioners, philanthropic funders, and investors work to unlock the full potential of entrepreneurship-led economic development. These accelerators aspire to support entrepreneurs, in large part by driving investment into promising ventures that work in marginalized sectors and regions around the world. Given the opportunity costs of the human, organizational, and financial resources required to run accelerators, it is important to determine whether they are having this intended impact. To assess the effect of acceleration on outside equity investment, we analyze application and follow-up data from a matched sample of 1647 entrepreneurs who applied to 77 impact-oriented accelerators. Our main finding is promising. In the first follow-up year, accelerator program participants attract significantly more outside equity than their rejected counterparts. Further analysis suggests that this positive equity bump is not due to cherry picking obviously promising ventures during selection processes. Moreover, the effect is tied to the number of accelerated months in the follow-up year. Despite these promising observations, we find that the equity investment effect does not extend to ventures working in emerging markets, or to those with women on their founding teams. Thus, the benefits of accelerators for entrepreneurship-led development are not yet reaching the places and people that have the hardest time attracting capital on their own. We conclude the paper by outlining the challenges associated with extending the positive effects of acceleration into entrepreneurial domains that are most challenging from an economic development perspective."

This paper investigates to what extent and how micro, small and medium-sized enterprises (SMEs) in developing countries are adapting to climate risks. We use a questionnaire survey to collect data from 325 SMEs in the semi-arid regions of Kenya and Senegal and analyze this information to estimate the quality of current adaptation measures, distinguishing between sustainable and unsustainable adaptation. We then study the link between these current adaptation practices and adaptation planning for future climate change. We find that financial barriers are a key reason why firms resort to unsustainable adaptation, while general business support, access to information technology and adaptation assistance encourages sustainable adaptation responses. Engaging in adaptation today also increases the likelihood that a firm is preparing for future climate change. The finding lends support to the strategy of many development agencies who use adaptation to current climate variability as a way of building resilience to future climate change. There is a clear role for public policy in facilitating good adaptation. The ability of firms to respond to climate risks depends in no small measure on factors such as business environment that can be shaped through policy intervention.

"Entrepreneurship education has the potential to enable youth to gain skills and create their own jobs. In Tunisia, a curricular reform created an entrepreneurship track providing business training and coaching to help university students prepare a business plan. We rely on randomized assignment of the entrepreneurship track to identify impacts on students' labor market outcomes one year after graduation. The entrepreneurship track led to a small increase in self-employment, but overall employment rates remained unchanged. Although business skills improved, effects on personality and entrepreneurial traits were mixed. The program nevertheless increased graduates' aspirations toward the future."

"The vast majority of micro and small enterprises (MSEs) in developing countries are located in industrial clusters, and the majority of such clusters have yet to see their growth take off. The performance of MSE clusters is especially low in Sub-Saharan Africa. While existing studies often attribute the poor performance to factors outside firms, problems within firms are seldom scrutinized. In fact, entrepreneurs in these clusters are unfamiliar with standard business practices. Based on a randomized experiment in Ghana, this study demonstrates that basic-level management training improves business practices and performance."

"Business training is a widely used development tool, yet little is known about its impact. We study the effects of such a business training program held in Central America. To deal with endogenous selection into the training program, we use a regression discontinuity design, exploiting the fact that a fixed number of applicants are taken into the training program based on a pre-training score. Business training significantly increases the probability that an applicant to the workshop starts a business or expands an existing business. Results also suggest gender heterogeneity as well as the presence of financial constraints."