La presente investigación se basa en el estudio de la percepción que tienen los usuarios respecto a dos grupos de startups Fintech en el Perú: uno de empresas en edad temprana de vida y otro de empresas consolidadas. El objetivo del estudio es poder proveer de un marco de orientación a los startups en etapa temprana de vida para poder reubicar sus recursos, identificando áreas de alta relevancia para los usuarios, con el propósito de poder implementar estrategias de cocreación de oportunidades que permitan enriquecer la relación entre empresa-cliente. Contrario a las presunciones hechas en instancias previas de la investigación, se comprueba que el nivel de interacción entre empresa y clientes constituye un arma de doble filo, ya que puede ser una señal sintomática de fallos fundamentales en la concepción del servicio. Además, se analiza cuál es el posicionamiento de las empresas estudiadas dentro de la consideración de los clientes y cómo esto repercute en asegurar estabilidad y rentabilidad en las acciones futuras de los startups en edad temprana de vida. Finalmente, se provee de recomendaciones sobre lo que el análisis de resultados propone, así como un paralelo con las tesis sostenidas por los autores, cuyos trabajos fueron usados de referencia para esta investigación. El estudio posee un carácter pionero en la delimitación de un marco de progreso para los startups jóvenes, aunque exhibe limitaciones en la extensión del análisis, puesto que se trabaja con una cantidad reducida de empresas, con propósito de poder mostrar resultados iniciales. / The investigation seeks to provide an effective framework for star-ups in early stage of life to successfully allocate resources in order to accurately address customer wants and needs. This work has been carried on by choosing start-ups from two different groups (early stage and experienced) and comparing customer’s perception on their services. Despite initial conceptions, establishing constant communication with customers is not regarded with the same effectiveness as thought, because it might hint failures and flaws in the way a service is shaped and provided. Moreover, it has been analysed what is the positioning in the imaginary from customer’s perception of the companies chosen to feature in this work, as well as how it affects to ensure profitability and sustainability of a start-up in early stage of life. Finally, recommendations have been provided in order to help young start-ups successfully allocate their resources and make profit of an adequate relationship with their costumers in the Peruvian context, besides proposing a parallel between other author’s works used to develop this investigation. This work shall be regarded as a pioneer in its field studying how young start-ups in Peru can develop from early stages, but must be taken in consideration the limitations of the analysis, given the narrow amount of companies used to build an initial framework. / Trabajo de investigación

Este trabajo de investigación tiene como propósito demostrar la relación entre los factores que los potenciales emprendedores perciben como críticos  en la etapa inicial de los startups en el Perú y su percepción de la probabilidad del éxito. Los pequeños negocios y startups en el Perú en estos últimos años han tomado relevancia y por ende el éxito en ellas en un proceso nuevo denominado escalamiento. Dichos factores pueden evidenciarse tanto en la etapa pre inicial de la startup como en la etapa de desarrollo de tal manera que, unos en gran medida que otros, impiden el éxito de estos emprendimiento. Según lo mencionado, se detallará diversos datos y opiniones de millennials que planeen instituir una startup a futuro y a fundadores de startups vigentes. De este modo se identificarán las distintas percepciones que argumenten si realmente estos factores atentan contra el escalamiento de las startups en la etapa inicial de estas. / This research work aims to demonstrate the relationship between the factors that potential entrepreneurs perceive as critical in the initial stage of startups in Peru and their perception of the probability of success. The startups in Peru are business models that in recent years have taken relevance and therefore the success in them in a new process called scaling. These factors can be evidenced both in the pre-initial stage of the startup and in the development stage in such a way that, some largely that others, prevent the success of these entrepreneurship. As mentioned, various data and opinions of millennials who plan to institute a startup in the future and founders of existing startups will be detailed. In this way, the different perceptions that argue if these factors actually threaten the escalation of startups in the initial stage of these will be identified. / Trabajo de investigación

This paper investigates the strategic framing approaches implemented by tech entrepreneurs in developing economies to attract financing from venture capital (VC) firms in developed economies. The study addresses the limited research in the field of entrepreneurship, specifically focusing on entrepreneurs’ subjective perspectives on strategically framing their startups to secure VC investment from developed economies. Additionally, it aims to make an initial contribution by exploring how these tech entrepreneurs in developing economies strategically frame their start-ups to attract VC funding from developed economies. The research methodology involves conducting semi-structured interviews with tech entrepreneurs who have successfully attracted VC financing through strategic framing.By analysing the interview data, we dive into the strategic framing approaches utilized by these tech entrepreneurs, with a particular emphasis on entrepreneurs in Kenya as the sample case, to secure financing from VC firms in developed economies. The insights shared by the interviewed tech founders highlight the crucial factors they strategically consider when framing their startups to attract VC financing. This strategic framing process involves extensive research, multiple iterations of pitch decks, metrics, and legal frameworks for a startup to raise VC financing. This study provides valuable insights into how entrepreneurs strive to understand venture capitalists’ perceptions of the Kenyan tech startup landscape and the criteria VC firms seek prior to making investments. Such knowledge empowers startup founders to position themselves strongly in terms of financial opportunities during the scaling and shaping phases of their tech startups. It is important to note that this study focuses on a small group of tech entrepreneurs in Kenya and may not capture potential industry, cultural, geographical, and personal variations. Nevertheless, it represents an initial attempt to explore the framing strategies of these startups when raising VC investments.

Sub-Saharan Africa is currently witnessing a proliferation of innovative startups, brimming with immense potential, yet grappling with formidable adversities that hinder the realisation of their latent capabilities to tangible economic benefits and substantial developmental progress for the region. Employing a qualitative research approach, this study investigates the internal and external factors that shape the growth and success trajectories of startups. Through startup strategic leadersand founders' lenses, the inquiry explores the tools employed to monitor progress and an examination of their understanding of sustainability as perceived from the vantage point of startup leadership. Drawing from a rich tapestry of conceptual frameworks and first-hand survey and interview findings, the analysis traverses’ diverse terrains. It encompasses an exploration of the transformative shift from resource-based to knowledge economies, discussing the phenomenon of leapfrogging and the profound impact of digital technology adoption on entrepreneurial endeavours in the region. The study also examines startup, growth and success definitions and their life cycles within the distinctive landscape of Sub-Saharan Africa, while concurrently delving into the pivotal role played by institutions in facilitating or impeding the trajectory of these nascent ventures. Ultimately, the paper ascertains that while internal factors undoubtedly exert influence on the rise of startups, external factors such as institutional policies, coupled with other constraints, continue to exert a significant influence on the potential progression of these enterprises as compared to internal factors. However, the study underscores that it is imperative for startups to remain cognizant, adequately prepared, and adept at managing both internal and external factors that shape their growth and success. It also calls for further research aimed at formulating effective strategies to support startups to navigate both internal and external challenges, particularly for startups operating within the confines of constrained budgets. / Subsahariska Afrika har för närvarande en explosionsartad tillväxt av innovativa startups, med enorm potential. Samtidigt brottas regionen med problem som hindrar förverkligandet av dessa latenta möjligheter till ekonomisk utveckling och framsteg för regionen. Med hjälp av en kvalitativforskningsansats undersöker denna studie de interna och externa faktorer som formar tillväxt och framgång för startups. Genom perspektiv från grundare och strategiska ledare för startups utforskar undersökningen de verktyg som används för att följa företagets framsteg och granska förståelsen för hållbarhet ur ett ledarskaps perspektiv. Med utgångspunkt från ett rikt spektrum av konceptuella ramverk samt resultat från en enkätundersökning och intervjuer omfattar analysen flera olika områden. Den omfattar en undersökning av transformationen från resursbaserade till kunskapsbaserade ekonomier, diskuterar fenomenet “leapfrogging” och effekten av implementeringen av digital teknologi på entreprenöriella företag i regionen. Studien diskuterar även definitioner av startups, tillväxt och framgång, samt företagens livscykler inom den särskilda kontext som utgör det subsahariska Afrika. Därutöver diskuteras den avgörande roll som institutioner spelar för att underlätta eller hindra dessa nystartade företags framgång. Slutligen visar uppsatsen att medans interna faktorer otvivelaktigt påverkar uppkomsten av startups, har externa faktorer såsom institutionella policys och andra begränsningar fortfarande en betydande inverkan på dessa företags potentiella framgång jämfört med interna faktorer. Studien betonar dock att det är avgörande för startups att vara medvetna, väl förberedda och skickliga på att hantera både interna och externa faktorer som formar deras tillväxt och framgång. Studien föreslår också till ytterligare forskning när det gäller att formulera effektiva strategier som stödjer startups att navigera både interna och externa utmaningar, särskilt för de som verkar inom begränsade budgetramar.

This dissertation explores the influence of corporate venture capital (CVC) on the innovation of startups. Applying the ordinary least squares (OLS) regression and propensity score matching approach to the CVC investment data on China’s listed companies, we document that the CVC investment can determine the innovation level of startups.For further insight, invention patents and utility patents will be considered, in addition to a separate examination of the number of patent applications and patent grants. It is found that CVC participation, the number of CVC syndicate investors, and the level of CVC involvement, all have significantly positive effects on the total patent applications, total patent grants, utility patent applications, and utility patent grants in those listed startups after four years of their Initial Public Offering. However, CVC investments have no significant influence on the number of invention patent applications and patent grants. This result indicates that the influence of CVC investments on the innovation level of startups is still in the preliminary stage, and CVC investments only slightly affect the development of more challenging invention patents. / Business Administration/Finance

Purpose - This study provides an updated understanding of effectuation in the new tech start up era of social commerce; specifically, it answered two questions: (1) How does a social commerce startup entrepreneur make decisions? (2) Why is it successful so far? Importance - It aims to contribute to the academic research on social commerce startup education. Methodology - Using a single case in-depth study, followed closely by the theory of effectuation in comparison with causation, to determine the behaviors of the observed. Limitation - The analysis provides detailed insight into these perspectives and suggestions for future research. Further studies on startup companies backed up with different sources and examinations on several startups together over a longer period of time are recommended to draw comparisons. Keywords - Effectuation in Entrepreneurship, tech startups, social media, social commerce, Berlin

Bakgrund: Hållbarhet är ett högaktuellt ämne som genomsyrar de flesta diskussioner i dagens samhälle. Företag förväntas i allt större utsträckning ta ansvar för sina bidrag till ekonomisk, social och ekologisk hållbarhet. De senaste decennierna har forskningsfältet hållbarhetsintegration, som berör processen då hållbarhet förenas med organisationens verksamhet med hjälp av ekonomistyrning, växt fram. Enligt organisatorisk livscykelteori har företag som befinner sig i olika faser av livscykeln olika karakteristika och förutsättningar. Forskningen gällande hållbarhetsintegration har dock främst berört stora och mogna företag som befinner sig i ett senare skede av livscykeln. Världen över återfinns däremot en stor mängd företag som befinner sig i ett tidigt skede av livscykeln. Mot bakgrund av detta föreligger ett behov, både teoretiskt och empiriskt, av att belysa hållbarhetsintegration i startupkontext. Syfte: Syftet med studien är att skapa en djupare förståelse för livscykelns betydelse när det kommer till hållbarhetsintegration i startups verksamhet. Metod: Studien är utformad enligt en kvalitativ metod med fallstudiedesign där ett realistiskt perspektiv tillämpas. Det empiriska materialet har samlats in via dokument och semistrukturerade intervjuer med sju respondenter från sju olika startups, vilka valdes ut med hjälp av ett kriteriestyrt bekvämlighetsurval. Resultat: Då startups befinner sig i ett tidigt skede av livscykeln, närmare bestämt födelse- eller tillväxtfasen, har de unika förutsättningar för hållbarhetsintegration jämfört med större och mer mogna företag som befinner sig i ett senare skede av livscykeln. Startups främsta fokus är att överleva vilket också präglar samtliga prioriteringar och avvägningar inom verksamheten. Därmed får ekonomisk hållbarhet störst uppmärksamhet av de tre hållbarhetsdimensionerna. Startups behöver även adressera social och ekologisk hållbarhet i viss utsträckning i syfte att erhålla legitimitet och tillfredsställa intressenter. Mer omfattande hållbarhetsarbete, utöver det som krävs för att överleva, är inte prioriterat. Vidare visar studiens resultat att ekonomistyrning spelar en central roll i att integrera hållbarhet i startups verksamhet. Ekonomisk hållbarhet adresseras främst med hjälp av formella styrmedel medan social och ekologisk hållbarhet främst adresseras med hjälp av informella styrmedel.

As a result of the large number of users on social media, brands need to rethink, adapt and search for new marketing opportunities. One of the fast-growing strategies applied by brands as a result of the shift is influencer marketing. For those brands who want to introduce influencer marketing in their digital strategy, strategic planning is of great importance to reach the right target group. Specifically, the challenges are relevant for start-ups that tend to lack both capital and experience regarding the strategy. Therefore the following study was carried out with the aim of increasing understanding of how strat-ups work with influencer marketing, influencer marketing as a marketing strategy and to highlight the possibilities with the strategy. Based on a qualitative method, semi-structured interviews were conducted where start-ups registered in 2018 or onward acted as informants. It was clarified that a strategic process often fails when a start-up company applies influencer marketing in its digital strategy. Despite this, the informants for the studies state that the strategy went with a successful result and further formed the basis for strong brand building. / Som resultat av den stora mängden användare på sociala medier har varumärken behövt tänka om, anpassa sig och se nya marknadsföringsmöjligheter. En av de snabbt växande strategierna som tillämpats av varumärken till följd av skiftet är influencermarknadsföring. För de varumärken som vill införa influencermarknadsföring i sin digitala strategi är strategisk planering av stor vikt för att träffa rätt målgrupp. Specifikt är utmaningarna aktuella för uppstartsbolag som saknar både kapital samt erfarenhet gällande strategin. Följande studie utfördes därför med syfte att öka förståelse för hur uppstartsbolag arbetar med influencermarknadsföring, influencermarknadsföring som marknadsföringsstrategi samt att belysa möjligheterna med strategin. Utifrån en kvalitativ metod har semistrukturerade intervjuer genomförts där uppstartsbolag registrerade senast år 2018 agerat informanter. Det tydliggjordes att en strategisk process ofta uteblir då ett uppstartsbolag tillämpar influencermarknadsföring i sin digitala strategi. Trots det uppger infomanterna för studien att strategin gått med lyckat resultat och vidare stått till grund för ett starkt varumärkesbyggande.

European Union (EU) healthcare systems are under financial and pandemic related pressure and will face further challenges not only due to a lack of medical workers and an ageing population. Technical innovation is seen as one of the ways to diffuse this ticking time bomb. Where innovation initiatives on corporate and governmental levels have in part failed, startups have the chance to be a grass-roots source for healthcare innovation in the future. This thesis explores the landscape of EU-based high performing healthcare startups. I try to answer the question: What types of EU-based healthcare startups are successful?In this thesis academic literature is examined for appropriate information on EU healthcare and healthcare innovation. Additionally, Crunchbase was utilized to identify one hundred high performing healthcare startups. Based on available academic literature I propose a new categorisation framework for healthcare innovation and use this framework to analyse the sample of one hundred high performing EU-based healthcare startups. The Crunchbase rank and funding amount were additionally used to quantitively analyse the sample.The results indicate that successful innovators in healthcare software mainly target consumers potentially due to lower entry barriers. Additionally, I find data supporting previous notions that pharmaceuticals use startups to outsource R&D activities. This coincides with relatively vast amounts of funding for some of these startups. Software innovations targeting medical care providers also see relatively high funding amounts potentially due to higher entry barriers. This research provides a better understanding of the landscape of high performing healthcare startups in the EU. Researchers and practitioners may use the new healthcare innovation categorization framework when analysing healthcare startups. Additionally, this work provides helpful insights on the stakeholders in healthcare, the state of healthcare innovation in the EU, and the landscape of innovative healthcare startups especially regarding funding.

The research adds to current management control system and textile and fashion management literature by developing a MCS framework which is specially targeting startups within the textile and fashion industry in order to implement and scale sustainability initiatives. The framework provides potential to impact and facilitate managers to foster sustainable development. Given the lack of research and the resulting lack of knowledge and understanding of sustainable development from a managerial perspective in the textile and fashion context, this research adds knowledge by examining fashion startups which find themselves at the development phase of MCSs.