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Başlangıç Sermayesi Girişimlerinin Öğrenmesinde Girişim Sermayesi Fonlarının Rolü

Year 2022, Volume: 24 Issue: 2, 197 - 211, 30.12.2022

Abstract

Başlangıç girişimleri yenilikçilik odaklı ve büyümeye çalışan işletmelerdir. Başlangıç girişimlerinin yenilikçi yapıları ve büyümeye odaklı stratejileri ölçeklenme aşamalarında onların finansal kaynaklara olan ihtiyaçlarını artırmaktadır. Büyüme, çoğu zaman finansal kaynaklarla ilgili olarak değerlendirilse de firmalar büyümek için bilgiye de ihtiyaç duymaktadırlar. Girişim sermayeleri ve bunlara benzer yatırım ağları, başlangıç işletmelerine finansal kaynak aktarmaktadır. Bu çalışmada “Startup” olarak adlandırılan başlangıç girişimlerinin öğrenme süreçlerinde girişim sermayesi fonları ile oluşturdukları ikili ilişkiler ve ağlar içerisindeki işbirlikleri incelenerek, bu işbirliklerinin yaratmış olduğu öğrenme ilişkisi incelenmesi amaçlanmıştır. Bu çalışmada veriler nitel yöntemlerle toplanmıştır. Bu kapsamda internette yer alan videolar incelenmiş bu videolardan elde edilen söylemler incelenmiştir. Buna göre girişim sermayesi firmaları, risk alarak yatırım yaptıkları başlangıç sermayesi işletmelerinin kârlılığa erişmesini amaçlamaktadırlar. Bunun için sadece finansal kaynak aktarmakla kalmayıp aynı zamanda sahip oldukları tecrübeyi başlangıç girişimlerinin ihtiyaç duydukları alanlarda desteklemek için kullanmaktadırlar. Başlangıç firmalarının başarılı olması için gerekli bilgileri aktarmak ve çeşitli becerileri geliştirmek girişim sermayesi işletmelerinin oluşturdukları ağlar da kullanılmaktadır. Bu ağlar girişim sermayelerinin çalıştığı diğer başlangıç girişimlerini kapsamaktadır. Başlangıç girişimleri girişim sermayelerinin “neyin nasıl yapılacağını” göstermeleri konusundaki rollerini gerekli bulurken girişim sermayeleri de yatırım yaptıkları başlangıç girişimlerinin öğrenmeye açık olmaları gerekliliğini vurgulamaktadırlar.

References

  • Acs, Z. J., Szerb, L., Lafuente, E., & Lloyd, A. (2018). The Entrepreneurial Ecosystem. Z. J. Ács, L. Szerb, E. Lafuente, & A. Lloyd (ed), Global Entrepreneurship and Development Index (s. 1-9) içinde. Switzerland AG: Springer Cham.
  • Appleyard, M. M. (1996). How Does Knowledge Flow? Interfirm Patterns In The Semiconductor Industry. Strategic Management, 17(52), 137-154.
  • Argyris, C., & Schön, D. (1978). Organizational Learning: A Theory of Action Perspective, Reading. Mass: Addison Wesley.
  • Avnimelech, G., & Teubal, M. (2006). Creating Venture Capital Industries That Co-evolve with High Tech: Insights From An Extended Industry Life Cycle Perspective of The Israeli Experience. Research Policy, 35(10), 1477-1498.
  • Baum, J. A., & Oliver, C. (1991). Institutional Linkages and Organizational Mortality. Organizational Ecology, 36(3), 187-218.
  • Baum, J. A., Calabrese, T., & Silverman, B. (2000). Don't Go It Alone: Alliance Network Composition and Startups' Performance in Canadian Biotechnology. Strategic Management Journal, 21(3), 267-294.
  • Blank, S. (2013). “Why The Lean Startup Changes Everything.” Harvard Business Review, No. 91, 63-72.
  • Brockman, B. K. (2013). The Evolution of Organizational Learning In New Venture Development. Journal of Small Business & Entrepreneurship, 26(3), 261-275.
  • Brown, J. S., & Duguid, P. (1991). Brown Organizational Learning and Communities-of-Practice: Toward a Unified View of Working, Learning, and Innovation. Organization Science, 2(1), 40–57.
  • Chaston, I., Badger, B., Mangles, T., & Sadler‐Smith, E. (2001). Organisational Learning Style, Competencies and Learning Systems in Small, UK Manufacturing Firms. International Journal of Operations & Production Management, 21(11), 1417-1432.
  • Coşkun, R. (2020). “Klasik Yönetim ve Kapalı Sistem mi? 1925 Yılından Önce Yazılmış Yönetim Ders Kitaplarında “Açık Sistem” İmaları.” Eskişehir Osmangazi Üniversitesi İİBF Dergisi, 15(1), 119–140.
  • Crossan, M., White, R. E., & Ivey, R. (1999). An Organization Learning Framework: From Intuition to Institution. The Academy of Management Review, 24(3), 522-537.
  • Dyer, J. H., & Singh, H. (1998). The Relational View: Cooperative Strategy and Sources of Interorganizational Competitive Advantage. The Academy of Management Review, 23(4), 660-679.
  • Dyer, J., & Nobeoka, K. (2000). Creating and Managing a High Performance Knowledge Sharing Network: The Toyota Case. Strategic Management Journal, 21(3), 345-367.
  • Eiriz, V., Gonçalves, M., & Areias, J. S. (2017). Inter-Organizational Learning Within an Institutional Knowledge Network: A Case Study In The Textile and Clothing Industry. European Journal of Innovation Management, 20(2), 230-249. European Startup Monitor, editor. European Startup Monitor2019/2020. Berlin, ESM, 2020.
  • Fiol, C. M., & Lyles, M. A. (1985). Organizational Learning. The Academy of Management Review, 10(4), 803-813. Flatten, T. C., Engelen, A., Zahra, S. A., & Brettel, M. (2011). A Measure Of Absorptive Capacity: Scale Development and Validation. European Management Journal, 29(2), 98-116.
  • Freeman, J., & Engel, J. S. (2007). Models of Innovation: Startups and Mature Corporations. California Management Review, 50(1), 94-119.
  • Galaskiewicz, J. (1979). Exchange Networks and Community Politics. CA: Sage.
  • Gardet, E., & Fraiha, S. (2012). Coordination Modes Established by the Hub Firm of an Innovation Network: The Case of an SME Bearer. Journal of Small Business Management, 50(2), 216-238.
  • Garvin, D. A. (1993). Building a Learning Organization. Harvard Business Review, 71(4), 78-91.
  • Gerlak, A. K., & Heikkila, T. (2011). Building a Theory of Learning in Collaboratives: Evidence from the Everglades Restoration Program. Journal of Public Administration Research and Theory, 21(4), 619-644.
  • Gibb, A. A. (1997). Organisation, Small Firms' Training and Competitiveness. Building Upon the Small Business as a Learning. International Small Business Journal: Researching Entrepreneurship, 15(3), 13-29.
  • Gulati, R., Dialdin, D. A., & Wang, L. (2017). Organizational Networks. J. A. Baum (Ed), The Blackwell Companion to Organizations (s. 281-303) içinde. Oxford: Wiley.
  • Hathaway, I. (2016). Accelerating Growth: Startup Accelerator Programs in the United States. Brookings: Erişim adresi: https://www.brookings.edu/research/accelerating-growth-startup-accelerator-programs-in-the-united-states/, Erişim tarihi: 02.05.2022
  • Huber, G. P. (1991). Organizational Learning: The Contributing Processes and the Literatures. Organization Science, 2(1), 88-115.
  • Human, S. E., & Provan, K. G. (2000). Legitimacy Building in The Evolution of Small-Firm Multilateral Networks: A Comparative Study of Success and Demise. Administrative Science Quarterly, 45(2), 327-365.
  • Hurley, R. F., & Hult, G. T. (1998). Innovation, Market Orientation, and Organizational Learning: An Integration and Empirical Examination. Journal of Marketing, 62(3), 42-54.
  • Iansiti, M., & Levien, R. (2004). The Keystone Advantage: What the New Dynamics of Business Ecosystems Mean for Strategy, Innovation, and Sustainability. Boston: Harvard Business School.
  • Jones, O., & Macpherson, A. (2006). Inter-Organizational Learning and Strategic Renewal in SMEs: Extending the 4I Framework. Long Range Planning, 39(2), 155-175.
  • Kagider. (2021). Girişimcilik Ekosistemi. Erişim adresi: https://kagider.org/tr/basin-odasi/haberler/girisimcilik-ekosistemi, Erişim tarihi: 06.05.2022.
  • Lee, S., Park, G., Yoon, B., & Park, J. (2010). Open Innovation in SMEs—An Intermediated Network Model. Research Policy, 39, 290-300.
  • Mason, C., & Brown, R. (2014). Entrepreneurial Ecosystems and Growth Oriented Entrepreneurship. Hague: OECD. Miner, A. S., Amburgey, T. L., & Stearns, T. M. (1990). Interorganizational Linkages and Population Dynamics: Buffering and Transformational Shields. Administrative Science Quarterly, 35(4), 689-713.
  • Minshall, T., Mortara, L., Probert, D., & Valli, R. (2010). Making 'Asymmetric' Partnerships Work. Research Technology Management, 53(3), 53-63.
  • Moore, J. (1993). Predators and Prey: A New Ecology of Competition. Harvard Business Review, 71, 75-86.
  • Pisano, G. P. (1990). The R&D Boundaries of The Firm: An Empirical Analysis. Administrative Science Quarterly, 35(1), 153-176.
  • Powell, W. W., Koput, K. W., & Smith-Doerr, L. (1996). Interorganizational Collaboration and The Locus of Innovation: Networks of Learning in Biotechnology. Administrative Science Quarterly, 41(1), 116-145.
  • Proven, K. G., & Kenis, P. (2007). Models of Network Governance: Structure, Management and Effectiveness. Public Administration, Research and Theory, 18(2), 229-252.
  • Reagans, R., & McEvily, B. (2003). Network Structure and Knowledge Transfer: The Effects of Cohesion and Range. Administrative Science Quarterly, 48(2), 240-267.
  • Ries, E. (2011). The Lean Startup: How Today's Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses. New York: Crown Publishing Group.
  • Senge, P. (1990). Beşinci Disiplin. İstanbul: Yapı Kredi Yayınları.
  • Shan, W., Walker, G., & Kogut, B. (1994). Interfirm Cooperation and Startup Innovation in The Biotechnology Industry. Strategic Management, 15(5), 387-394.
  • Soetanto, D. (2017). Networks and Entrepreneurial Learning: Coping with Difficulties. Journal of Entrepreneurial Behaviour and Research, 23(3), 547-565.
  • Thorpe, R., Holt, R., Macpherson, A., & Pittaway, L. (2005). Using Knowledge Within Small and Medium-Sized Firms: A Systematic Review of The Evidence. International Journal of Management Reviews, 7(4), 257-281.
  • Zhou, L., Wu, W.-p., & Luo, X. (2007). Internationalization and The Performance of Born-Global SMEs: The Mediating Role of Social Networks. Journal of International Business Studies, 38(4), 673-690.

The Role of Venture Capital Funds in the Learning of Startup

Year 2022, Volume: 24 Issue: 2, 197 - 211, 30.12.2022

Abstract

Startups are innovation-driven and growth-oriented firms. Innovative structures and growth-oriented strategies of startups increase their need for financial resources at growth stages. Although growth is often evaluated in relation to financial resources, firms also need the information for various issues of the scale-up process. Venture capital funds and some similar investment networks transfer financial resources to startup firms. In this study, it is aimed to examine the learning relationship created by these collaborations by examining the dyads and networks formed with the venture capital funds. In this study, qualitative data were collected. In this context, the videos on the internet were examined, and the discourses obtained from these videos were examined. Consequently, venture capital funds try to ensure startups reach their targeted profitability by taking risks. Therefore, venture capital funds not only transfer financial resources, but also use their experience to support startups in the areas needed. Networks created by venture capital funds are also used to convey the necessary information and develop various skills of startup companies. These networks include other startup firms that venture capital funds work with. While startup firms find "showing what to do and how to do" the role of venture capital funds is necessary, venture capitals emphasize that startups they invest in should be open to learning.

References

  • Acs, Z. J., Szerb, L., Lafuente, E., & Lloyd, A. (2018). The Entrepreneurial Ecosystem. Z. J. Ács, L. Szerb, E. Lafuente, & A. Lloyd (ed), Global Entrepreneurship and Development Index (s. 1-9) içinde. Switzerland AG: Springer Cham.
  • Appleyard, M. M. (1996). How Does Knowledge Flow? Interfirm Patterns In The Semiconductor Industry. Strategic Management, 17(52), 137-154.
  • Argyris, C., & Schön, D. (1978). Organizational Learning: A Theory of Action Perspective, Reading. Mass: Addison Wesley.
  • Avnimelech, G., & Teubal, M. (2006). Creating Venture Capital Industries That Co-evolve with High Tech: Insights From An Extended Industry Life Cycle Perspective of The Israeli Experience. Research Policy, 35(10), 1477-1498.
  • Baum, J. A., & Oliver, C. (1991). Institutional Linkages and Organizational Mortality. Organizational Ecology, 36(3), 187-218.
  • Baum, J. A., Calabrese, T., & Silverman, B. (2000). Don't Go It Alone: Alliance Network Composition and Startups' Performance in Canadian Biotechnology. Strategic Management Journal, 21(3), 267-294.
  • Blank, S. (2013). “Why The Lean Startup Changes Everything.” Harvard Business Review, No. 91, 63-72.
  • Brockman, B. K. (2013). The Evolution of Organizational Learning In New Venture Development. Journal of Small Business & Entrepreneurship, 26(3), 261-275.
  • Brown, J. S., & Duguid, P. (1991). Brown Organizational Learning and Communities-of-Practice: Toward a Unified View of Working, Learning, and Innovation. Organization Science, 2(1), 40–57.
  • Chaston, I., Badger, B., Mangles, T., & Sadler‐Smith, E. (2001). Organisational Learning Style, Competencies and Learning Systems in Small, UK Manufacturing Firms. International Journal of Operations & Production Management, 21(11), 1417-1432.
  • Coşkun, R. (2020). “Klasik Yönetim ve Kapalı Sistem mi? 1925 Yılından Önce Yazılmış Yönetim Ders Kitaplarında “Açık Sistem” İmaları.” Eskişehir Osmangazi Üniversitesi İİBF Dergisi, 15(1), 119–140.
  • Crossan, M., White, R. E., & Ivey, R. (1999). An Organization Learning Framework: From Intuition to Institution. The Academy of Management Review, 24(3), 522-537.
  • Dyer, J. H., & Singh, H. (1998). The Relational View: Cooperative Strategy and Sources of Interorganizational Competitive Advantage. The Academy of Management Review, 23(4), 660-679.
  • Dyer, J., & Nobeoka, K. (2000). Creating and Managing a High Performance Knowledge Sharing Network: The Toyota Case. Strategic Management Journal, 21(3), 345-367.
  • Eiriz, V., Gonçalves, M., & Areias, J. S. (2017). Inter-Organizational Learning Within an Institutional Knowledge Network: A Case Study In The Textile and Clothing Industry. European Journal of Innovation Management, 20(2), 230-249. European Startup Monitor, editor. European Startup Monitor2019/2020. Berlin, ESM, 2020.
  • Fiol, C. M., & Lyles, M. A. (1985). Organizational Learning. The Academy of Management Review, 10(4), 803-813. Flatten, T. C., Engelen, A., Zahra, S. A., & Brettel, M. (2011). A Measure Of Absorptive Capacity: Scale Development and Validation. European Management Journal, 29(2), 98-116.
  • Freeman, J., & Engel, J. S. (2007). Models of Innovation: Startups and Mature Corporations. California Management Review, 50(1), 94-119.
  • Galaskiewicz, J. (1979). Exchange Networks and Community Politics. CA: Sage.
  • Gardet, E., & Fraiha, S. (2012). Coordination Modes Established by the Hub Firm of an Innovation Network: The Case of an SME Bearer. Journal of Small Business Management, 50(2), 216-238.
  • Garvin, D. A. (1993). Building a Learning Organization. Harvard Business Review, 71(4), 78-91.
  • Gerlak, A. K., & Heikkila, T. (2011). Building a Theory of Learning in Collaboratives: Evidence from the Everglades Restoration Program. Journal of Public Administration Research and Theory, 21(4), 619-644.
  • Gibb, A. A. (1997). Organisation, Small Firms' Training and Competitiveness. Building Upon the Small Business as a Learning. International Small Business Journal: Researching Entrepreneurship, 15(3), 13-29.
  • Gulati, R., Dialdin, D. A., & Wang, L. (2017). Organizational Networks. J. A. Baum (Ed), The Blackwell Companion to Organizations (s. 281-303) içinde. Oxford: Wiley.
  • Hathaway, I. (2016). Accelerating Growth: Startup Accelerator Programs in the United States. Brookings: Erişim adresi: https://www.brookings.edu/research/accelerating-growth-startup-accelerator-programs-in-the-united-states/, Erişim tarihi: 02.05.2022
  • Huber, G. P. (1991). Organizational Learning: The Contributing Processes and the Literatures. Organization Science, 2(1), 88-115.
  • Human, S. E., & Provan, K. G. (2000). Legitimacy Building in The Evolution of Small-Firm Multilateral Networks: A Comparative Study of Success and Demise. Administrative Science Quarterly, 45(2), 327-365.
  • Hurley, R. F., & Hult, G. T. (1998). Innovation, Market Orientation, and Organizational Learning: An Integration and Empirical Examination. Journal of Marketing, 62(3), 42-54.
  • Iansiti, M., & Levien, R. (2004). The Keystone Advantage: What the New Dynamics of Business Ecosystems Mean for Strategy, Innovation, and Sustainability. Boston: Harvard Business School.
  • Jones, O., & Macpherson, A. (2006). Inter-Organizational Learning and Strategic Renewal in SMEs: Extending the 4I Framework. Long Range Planning, 39(2), 155-175.
  • Kagider. (2021). Girişimcilik Ekosistemi. Erişim adresi: https://kagider.org/tr/basin-odasi/haberler/girisimcilik-ekosistemi, Erişim tarihi: 06.05.2022.
  • Lee, S., Park, G., Yoon, B., & Park, J. (2010). Open Innovation in SMEs—An Intermediated Network Model. Research Policy, 39, 290-300.
  • Mason, C., & Brown, R. (2014). Entrepreneurial Ecosystems and Growth Oriented Entrepreneurship. Hague: OECD. Miner, A. S., Amburgey, T. L., & Stearns, T. M. (1990). Interorganizational Linkages and Population Dynamics: Buffering and Transformational Shields. Administrative Science Quarterly, 35(4), 689-713.
  • Minshall, T., Mortara, L., Probert, D., & Valli, R. (2010). Making 'Asymmetric' Partnerships Work. Research Technology Management, 53(3), 53-63.
  • Moore, J. (1993). Predators and Prey: A New Ecology of Competition. Harvard Business Review, 71, 75-86.
  • Pisano, G. P. (1990). The R&D Boundaries of The Firm: An Empirical Analysis. Administrative Science Quarterly, 35(1), 153-176.
  • Powell, W. W., Koput, K. W., & Smith-Doerr, L. (1996). Interorganizational Collaboration and The Locus of Innovation: Networks of Learning in Biotechnology. Administrative Science Quarterly, 41(1), 116-145.
  • Proven, K. G., & Kenis, P. (2007). Models of Network Governance: Structure, Management and Effectiveness. Public Administration, Research and Theory, 18(2), 229-252.
  • Reagans, R., & McEvily, B. (2003). Network Structure and Knowledge Transfer: The Effects of Cohesion and Range. Administrative Science Quarterly, 48(2), 240-267.
  • Ries, E. (2011). The Lean Startup: How Today's Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses. New York: Crown Publishing Group.
  • Senge, P. (1990). Beşinci Disiplin. İstanbul: Yapı Kredi Yayınları.
  • Shan, W., Walker, G., & Kogut, B. (1994). Interfirm Cooperation and Startup Innovation in The Biotechnology Industry. Strategic Management, 15(5), 387-394.
  • Soetanto, D. (2017). Networks and Entrepreneurial Learning: Coping with Difficulties. Journal of Entrepreneurial Behaviour and Research, 23(3), 547-565.
  • Thorpe, R., Holt, R., Macpherson, A., & Pittaway, L. (2005). Using Knowledge Within Small and Medium-Sized Firms: A Systematic Review of The Evidence. International Journal of Management Reviews, 7(4), 257-281.
  • Zhou, L., Wu, W.-p., & Luo, X. (2007). Internationalization and The Performance of Born-Global SMEs: The Mediating Role of Social Networks. Journal of International Business Studies, 38(4), 673-690.
There are 44 citations in total.

Details

Primary Language Turkish
Journal Section Issue
Authors

Eyüp Bayram Şekerli 0000-0003-1562-4716

Ali Yıldız 0000-0001-7670-5320

Publication Date December 30, 2022
Submission Date May 12, 2022
Published in Issue Year 2022 Volume: 24 Issue: 2

Cite

APA Şekerli, E. B., & Yıldız, A. (2022). Başlangıç Sermayesi Girişimlerinin Öğrenmesinde Girişim Sermayesi Fonlarının Rolü. Kastamonu Üniversitesi İktisadi Ve İdari Bilimler Fakültesi Dergisi, 24(2), 197-211. https://doi.org/10.21180/iibfdkastamonu.1116008