Two views of the entrepreneurial spawning process areexamined— that young firms prepare employees to be entrepreneurs by educatingthem about the entrepreneurial process and by exposing them to a network ofentrepreneurs and venture capitalists; and that individuals becomeentrepreneurs because...

We study how firm characteristics evolve from early business plan to initial public offering to public company for 49 venture capital financed companies. The average time elapsed is almost 6 years. We describe the financial performance, business idea, point(s) of differentiation, non-human...