This paper argues that a large component of success in entrepreneurship and venture capital can be attributed to skill. We show that entrepreneurs with a track record of success are more likely to succeed than first time entrepreneurs and those who have previously failed. Funding by more...

Hacks, Fails und Erfolgsfaktoren - das Praxisbuch für alle Gründer. Immer mehr Gründungsfreudige wagen den Schritt in die Selbstständigkeit und wollen mit ihrem Start-up den grossen Coup landen. Doch was braucht es, um aus einer Idee ein erfolgreiches Business oder gar ein Unicorn zu machen?...

Many observers, and many investors, believe that young people are especially likely to produce the most successful new firms. We use administrative data at the U.S. Census Bureau to study the ages of founders of growth-oriented start-ups in the past decade. Our primary finding is that successful...

Using a unique firm-level dataset from China's "Silicon Valley," we investigate how multinational enterprises (MNEs) affect local entrepreneurship and R&D activities upon entry. We find that R&D activities of MNEs in an industry stimulate entry of domestic firms into the same industry and...