Papers in Innovation Studies, CIRCLE, Center for Innovation, Research and Competences in the Learning Economy, Lund University
Informal investors and value added: The contribution of investors’ experientially acquired resources in the entrepreneurial process
() and Jonas Gabrielsson
Abstract: This study explores the value added contribution of
informal investors in the entrepreneurial process, something that up to
date has received very limited attention. By analyzing the life experience
and career background of four informal investors the study examines the
personal resources these individuals build up and develop during their
careers and how these experientially acquired resources facilitate the
recognition and exploitation of entrepreneurial investment opportunities.
The overall results suggest that their careers can be described as an
experiential learning process that has facilitated the development of
valuable skills and knowledge that is of critical importance for the
entrepreneurial projects they later become engaged in as informal
investors. The case analysis also identifies two types of personal
resources: skill-specific resources (know-how) and network resources
(know-who) that have a significant influence on their ability to contribute
with value added in the entrepreneurial process.
Keywords: informal investors; entrepreneurial process; investment opportunity; opportunity recognition; opportunity exploitation; resources; (follow links to similar papers)
JEL-Codes: O30; (follow links to similar papers)
30 pages, November 1, 2006
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