This study contributes to nascent entrepreneurship research by investigating factors on the individual and opportunity levels of analysis that determine the exploitation of innovative venture ideas. As a result of the literature review three theoretical perspectives were chosen to organize the factors: human and social capital, entrepreneurial self-efficacy, and domain definition strategy. The analysis of the chosen factors is based on hypotheses formulated on the basis of the literature review concerning the impact of the factors on the performance of nascent entrepreneurs during the discovery process. Empirical data were collected from the survey of 409 nascent entrepreneurs who addressed a public advisory agency in Stockholm area. Research findings show that among all factors, statistically significant predictors of exploitation of venture ideas are social capital in terms of the contact with counselors and number of ties with different actors, planning and marshaling self-efficacy, initial investment, tangibility and innovativeness of the future offerings. As for the direction of relationships, too many ties with different networks and higher planning self-efficacy influence exploitation in a negative way. Among variables related to domain definition strategy, entrepreneurs with innovative venture ideas based on services have higher probability of exploiting their ideas. Those who have made initial investment into the development of venture ideas and have a frequent contact with counselors are more likely to continue exploitation efforts. Of five dimensions of entrepreneurial self-efficacy, higher marshaling self-efficacy was shown to positively contribute to the exploitation process. It is especially difficult during the early stages of entrepreneurial process to predict which venture ideas will survive, thus, nascent entrepreneurship assistance should encourage experimentation. Although it is difficult to make generalizations from the study about nascent entrepreneurs in the Stockholm area, it can be advised to encourage the development of new services and enhance the entrepreneurial potential of nascent entrepreneurs by developing their entrepreneurial self-efficacy, especially marshaling self-efficacy.

Purpose: This research aims to study the roles played by entrepreneurial human, social, cognitive capital and related process dynamics in venture emergence, exploring their main and combined effects on the model of the determinants of success in Nascent Entrepreneurship. This provides strong evidence for the connection from resources to process dynamics and ultimately to venture outcomes. Methodology Approach: An empirical model is developed to test a research's framework that focuses on formulating and testing coherent conceptual propositions utilising a longitudinal sample of secondary data from a mix gender sample of 816 nascent entrepreneurs in the United States who were tracked over four consecutive years. Findings: The empirical analysis showed significant support for the proposed conceptual model. The findings support the partial influence of the main attributes of nascent entrepreneurial capital (social, human and cognitive capitals) on the outcomes of new venture creation process, where the drivers of positive outcomes appear to coincide with variables that relate to cognitive capital. More importantly, the empirical analysis finds significant interaction effects between elements of nascent entrepreneurial capital and their interplay with the process dynamics confirming the conceptual proposition of an integrative framework encompassing significant associations that constitute the phenomenon of new venture creation. The integrative perspective has implications for Nascent Entrepreneurship theory and practice. First, the main effects of resource endowments should not be taken into account in isolation as predictors of new venture creation outcomes. Second, the role of process dynamics and cognitive capital is best theorised as a moderating variable between the startup capital's attributes and the venture creation outcomes. Therefore, the findings demonstrate a dominant role of the integrative modelling in driving the transition to the start-up phase. Limitations: There is no consensus on the measures of success for entrepreneurship research at the nascent phase of business venturing. There is substantial variation in the literature in terms of outcomes, definitions, conceptual works and design issues, and therefore further consideration to control for variations is deemed necessary to ensure valid, cumulative and definitive answers that must be built upon a solid and unified basis. ` Originality: Thesis is original in integrating cognitive abilities and process dynamics with social and human capital in a model of the determinants of success in Nascent Entrepreneurship. While we may consider alternative ways to look at interaction/moderation effects across the three different types of " start-up capital", integrating the three elements in a structured and dynamic model of Nascent Entrepreneurship is an original contribution.

Syfte: Syftet med denna studie är att jämföra entreprenörskap i Sverige och Japan och att få en förståelse för varför så olika länder båda har så lågt entreprenörskap. Jag har valt att avgränsa mig till data hämtade från GEM 2007. Metod: I detta arbete gör jag en jämförelse av entreprenörskap i Sverige och i Japan som jag gjort genom att införskaffa sekundär data från en rapport från GEM 2007. I detta arbete har mitt förhållningssätt främst varit abduktivt. Teoretiska Perspektiv: Wennekers (2006) har undersökt den U-kurva som uppstår när man studerar entreprenörskap i relation till ekonomisk utveckling. Länder tenderar att gå från en hög nivå av entreprenörskap till en låg nivå när man går från bondeekonomi till industriell ekonomi för att sedan öka igen när länder nått en avancerad nivå av ekonomisk utveckling. Trots dessa samband så skiljer sig länder fortfarande mycket åt när det kommer till entreprenörskap och förändringarna verkar vara ihållande. Wennekers (a.a.) menar att detta snarare beror på kulturella skillnader än ekonomiska skillnader eftersom kulturella skillnader är relativt oföränderliga över tiden. Empiri: GEM står för Global Entrepreneurship Monitor och är ett not-for-profit akademiskt forsknings konsortium. Deras mål är att göra internationell forskning av hög kvalité om entreprenöriska aktiviteter i världen som kan nå en så bred publik som möjligt. GEMs studie är den största enskilda studie av entreprenörisk aktivitet i världen och startade 1999. I detta arbete har jag använt mig av data från GEMs rapport från 2007 som är det år då både Japan och Sverige var med senast. Resultat: I en jämförelse av Japan och Sverige så hittar jag en del likheter, men främst skillnader. Detta antyder att det inte finns några enkla svar på varför entreprenörskap är lågt i ett land. Resultatet av studien indikerar att de nationella experterna hade rätt när de gav statlig politik som främsta problemområde för Sverige och kultur och sociala normer för Japan. / Purpose: The purpose with this thesis has been to compare entrepreneurship in Sweden and in Japan. It has also been to get a wider understanding why two so different countries both have a low level of entrepreneurship compared to other countries. Since the subject is wide I have chosen to delimitate to data from GEM 2007. Methodology: In this thesis I have compared entrepreneurship in Sweden and in Japan. This I have done by obtaining secondary data from GEM’s report from 2007. My approach in this thesis has foremost been abductive.  Theoretical perspectives: Wennekers (2006) have studied the U-shape curve that occurs when you put entrepreneurship in relation to economic growth. Countries tend to go from a high level of entrepreneurship to a low level when they go from agricultural economy to an industrial economy. Then they tend to go up again when they reach a advanced level of economic development. However countries seem to differ when it comes to entrepreneurship despite this relation and the differences seems to be lasting. Wennekers (a.a.) believe that these differences has to do with cultural differences rather than economics differences since cultural differences are relatively immutable over time. Empirical foundation: GEM stands for Global Entrepreneurship Monitor and is a not-for-profit academic research consortium. Their goal is to make international research of high quality about entrepreneurial activity in the world that is able to reach a wide public. GEM’s study is the biggest study in the world about entrepreneurial activity and started 1999. In this thesis I have used data from GEM’s report from 2007, which is the latest report with both Sweden and Japan. Conclusions: In a comparison between Japan and Sweden I have found some similarities but mostly differences. This suggests that there are no simple answers to a low level of entrepreneurship in a country. However, in my opinion, I think that the national experts were right to put government policies as the biggest problem for Sweden and Cultural, Social norms as Japan’s biggest problem.